KKR Files 8-K on Asset Acquisition/Disposition, Regulation FD

TL;DR

**KKR just completed an asset deal, details pending, could impact future performance.**

AI Summary

KKR & Co. Inc. filed an 8-K on January 2, 2024, to report the completion of an acquisition or disposition of assets, though specific details of the transaction were not provided in the excerpt. The filing also included Regulation FD Disclosure and Financial Statements and Exhibits. This matters to investors because KKR, an investment advice company, frequently engages in such transactions, and the nature and terms of these deals can significantly impact its asset base, revenue streams, and overall financial health, potentially affecting stock performance.

Why It Matters

This filing indicates KKR has completed a significant transaction, which could alter its investment portfolio and financial outlook. Investors need to understand the specifics of such deals to assess KKR's strategic direction and potential for future growth or risk.

Risk Assessment

Risk Level: medium — The risk is medium because while a transaction occurred, the lack of specific details about the acquisition or disposition prevents a full assessment of its financial impact or strategic implications.

Analyst Insight

A smart investor would monitor KKR's subsequent filings and news releases for specific details regarding the completed acquisition or disposition, as these details are crucial for assessing the transaction's impact on KKR's financial health and strategic direction.

Key Numbers

• 2024-01-02 — Date of Report (earliest event reported in the 8-K filing)
• 001-34820 — Commission File Number (identifies KKR's filings with the SEC)
• 88-1203639 — IRS Employer Identification No. (tax identification number for KKR & Co. Inc.)
• 4.625% — Interest Rate (on Subordinated Notes due 2061 of KKR Group Finance Co. IX LLC)

Key Players & Entities

• KKR & Co. Inc. (company) — registrant filing the 8-K
• KKR Group Finance Co. IX LLC (company) — issuer of 4.625% Subordinated Notes due 2061
• New York Stock Exchange (company) — exchange where KKR Common Stock and Subordinated Notes are registered
• Delaware (company) — state of incorporation for KKR & Co. Inc.

Forward-Looking Statements

• KKR will release more specific details about the asset acquisition/disposition in a subsequent filing or press release. (KKR & Co. Inc.) — high confidence, target: 2024-01-31
• The transaction will be material enough to impact KKR's next quarterly earnings report. (KKR & Co. Inc.) — medium confidence, target: 2024-03-31

FAQ

Key Financial Figures

• $2.6 b — d not already own will be approximately $2.6 billion, which is subject to certain post

Filing Documents

• ef20017900_8k.htm (8-K) — 37KB
• ef20017900_99-1.htm (EX-99.1) — 11KB
• 0001140361-24-000173.txt ( ) — 226KB
• kkr-20240102.xsd (EX-101.SCH) — 4KB
• kkr-20240102_def.xml (EX-101.DEF) — 17KB
• kkr-20240102_lab.xml (EX-101.LAB) — 27KB
• kkr-20240102_pre.xml (EX-101.PRE) — 19KB
• ef20017900_8k_htm.xml (XML) — 6KB

01

Item 2.01. Completion of Acquisition or Disposition of Assets. On January 2, 2024, KKR & Co. Inc. (together with its subsidiaries, "KKR") completed the merger contemplated by the previously announced Agreement and Plan of Merger, dated as of November 28, 2023, by and among KKR Magnolia Holdings LLC ("Parent"), an indirect subsidiary of KKR, Sweetbay Merger Sub LLC, a direct subsidiary of Parent ("Merger Sub") and The Global Atlantic Financial Group LLC ("TGAFG" and, together with its subsidiaries, "Global Atlantic"), pursuant to which KKR acquired the remaining 36.7% of Global Atlantic that KKR did not already own. At the closing of the transaction (the "Closing"), Merger Sub merged with and into TGAFG, with TGAFG surviving the merger, resulting in Global Atlantic becoming a wholly-owned subsidiary of KKR. The total cash purchase price for the 36.7% of Global Atlantic that KKR did not already own will be approximately $2.6 billion, which is subject to certain post-Closing purchase price adjustments as provided in the Merger Agreement. Additionally, in connection with the Closing, certain Global Atlantic employees who participated in Global Atlantic's management equity incentive plan rolled over a majority of their equity interests in Global Atlantic into KKR equity. The outstanding debt securities of Global Atlantic will remain outstanding obligations of solely Global Atlantic entities and are not being assumed or guaranteed by KKR. The foregoing description of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is subject to and qualified in its entirety by reference to the Merger Agreement, a copy of which is attached hereto as Exhibit 2.1, and the terms of which are incorporated by reference herein. The Merger Agreement has been included as an exhibit hereto solely to provide investors and security holders with information regarding its terms. It is not intended to be a source of financial, business or operati

01

Item 7.01. Regulation FD Disclosure. On January 2, 2024, KKR and Global Atlantic issued a joint press release announcing the Closing. The joint press release is furnished as Exhibit 99.1 and incorporated by reference in this Item 7.01. The information in this Item 7.01 (including Exhibit 99.1) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (a) Financial Statements of Businesses Acquired . No financial statements are required by Item 9.01(a) of Form 8-K because the financial statements of Global Atlantic have been reflected in the audited consolidated financial statements of KKR & Co. Inc. for more than a complete fiscal year. (b) Pro Forma Financial Information . The pro forma financial information relating to the transaction that is required by Item 9.01(b) of Form 8-K will be filed by amendment no later than 71 calendar days after the date on which this Current Report on Form 8-K is required to be filed. (d) Exhibits Exhibit No. Description 2.1 Merger Agreement, dated as of November 28, 2023, by and among KKR Magnolia Holdings LLC, Sweetbay Merger Sub LLC and The Global Atlantic Financial Group LLC (incorporated by reference to Exhibit 2.1 to KKR & Co. Inc.'s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 29, 2023). 99.1 Joint press release of KKR & Co. Inc. and The Global Atlantic Financial Group LLC, dated January 2, 2024, announcing the Closing (this exhibit is furnished and not filed). 104 Cover Page Interactive Data File, formatted in Inline XBRL.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KKR & CO. INC. Date: January 2, 2024 By: /s/ Christopher Lee Name: Christopher Lee Title: Secretary

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View this 8-K filing on SEC EDGAR