KKR & Co. Inc. shares gained 0.49% in after-hours on Tuesday, December 21, 2021, and closed at $72.51. Even in the regular trading session of Tuesday, KKR’s stock gained 2.24%. KKR shares have risen 81.76% over the last 12 months, and they have moved down 1.20% in the past week. Over the past three months, the stock has gained 13.46%, while over the past six months, it has surged 21.56%.
Let’s briefly discuss its recent news.
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KKR activity update for Q4
On December 21, 2021, KKR reported a monetization activity update for the period from October 1, 2021, to December 21, 2021.
- The company has earned a record total income above $1.15 billion for the quarter.
- The monetization activity is made up of approximately 50% gross realized carried interest, approximately 30% realized incentive fees, and approximately 20% realized investment income.
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KKR acquired healthcare real-estate asset
On December 20, 2021, KKR Real Estate Select Trust Inc. (KREST) acquired a portfolio of core medical office buildings and ambulatory surgery centers located in seven Sun Belt states. The transaction will recapitalize the Portfolio with Montecito Medical retaining its interest in and operational responsibility for the properties.
The Portfolio consists of 15 outpatient medical office buildings and ambulatory surgery centers totaling approximately 400,000 square feet. The properties are located across the southern United States in growth submarkets within Arkansas, Florida, Georgia, North Carolina, Tennessee, Texas, and South Carolina.
KKR acquiring Yayoi
On December 17, 2021, KKR, signed a definitive agreement under which KKR will acquire Yayoi Co., Ltd., a software developer, distributor, and support service provider for small- and medium-sized enterprises in Japan from ORIX Corporation.
The Yayoi Series has been Japan’s number-one cloud accounting software for six consecutive years by the number of users, and the number-one desktop business software for 22 consecutive years, with over 2.5 million registered users.
Self-Storage Investment Platform
On December 15, 2021, KKR, launched a platform to invest in self-storage real estate across the United States. Industry veteran Jonathan Perry will serve as CEO of the platform, Alpha Storage Properties (ASP), and work closely with KKR’s real estate team to acquire and manage a portfolio of self-storage assets in high-growth markets and strategic infill locations across the country.
KKR acquired Bettcher
On December 15, 2021, KKR completed the acquisition of Bettcher from MPE Partners. Dan Daniel, a KKR Executive Advisor, will assume the role of Chairman of Bettcher. Mr. Daniel will support Tim Swanson, CEO of Bettcher, in setting the strategic direction of the company and in overseeing Bettcher’s operating performance.
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Conclusion
The recent activity update for Q4 was the reason behind its better performance on Tuesday. We can expect it to further climb in the coming trading sessions.
