kkR to take over Goldman Sachs backed insurer Global Atlantic


NEW YORK: kkR & Co Inc said on Wednesday it would acquire Goldman Sachs-backed Global Atlantic Financial Group Ltd, making it the latest private equity firm to add an annuities and life insurance provider to its platform.

kkR said it will become the manager of Global Atlantic’s investment portfolio, giving it a steady stream of lucrative fees and boosting its assets under management from US$207bil to US$279bil.

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