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Top related persons:
It's - 1 Ryan Stroker - 1 William Martiner - 1 Wall - 1 Stroker - 1 Martiner - 1 John Burns - 1 Ryan - 1
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New York Manhattan Axel Global Delaware , New York Iowa London U.S
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KKR - 3 Global - 2 Global Atlantic - 2 Thomson - 2 Service - 1 Business - 1 MetLife - 1 Wall - 1

Search resuls for: "Global Atlantic"


4 mentions found


☆ How one real-estate unicorn is getting past gutting layoffs and slowing deals
  + stars: | 2024-04-08 | by ( Alex Nicoll | ) www.businessinsider.com   time to read: +8 min
Rising interest rates have slammed the brakes on deals, and many real-estate companies have cut staff as revenues slowed. Founded in 2020 by real-estate executives Ryan Stroker and William Martiner, Avenue One was profitable by early 2021, company officials told Business Insider. AdvertisementAvenue One cofounder and CEO Ryan Stroker told BI in an interview how the company is navigating the difficult business environment. "I was told that I wasn't spending enough money six months before the layoffs," Stroker said. Layoffs and Big SpendingBoth Stroker and Avenue One's followup statement said the company is financially secure and described the layoffs as prudent rather than necessary.
Persons: It's, Ryan Stroker, William Martiner, Wall, Stroker, Martiner, John Burns, Ryan, Axel Springer Organizations: Service, KKR, Global, Business, MetLife, Wall, Amherst, John Burns Real Estate Consulting, BI Locations: Manhattan, Axel
☆ Private-asset binge exposes insurance to new risks
  + stars: | 2023-11-30 | by ( John Foley | ) www.reuters.com   time to read: +7 min
The concept is not new: Warren Buffett’s Berkshire Hathaway (BRKa.N) has used its insurance premiums to help fund everything from railways to cowboy-boot makers. The prospect of insurance companies buying risky loans or private equity investments has raised eyebrows. Many private credit assets, for example, rely on so-called private letter ratings based on confidential data. Given the private nature of private credit, it’s hard to see from the outside how big these risks are, or where they lurk. Besides, even if the share of life insurance assets that are mis-rated or undercapitalized is tiny, smaller insurers could carry more concentrated risk.
Persons: Blackstone, Warren Buffett’s Berkshire Hathaway, Fitch, Kroll, Egan, Jones, DBRS Morningstar, Banks, SVB, Jonathan Guilford, Neil Unmack, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, Apollo Global Management, KKR, Global Atlantic, Investments, National Association of Insurance, England’s Everton FC, Rivals, Reuters Graphics Reuters, Federal Reserve, Federal Deposit Insurance Corp, Athene, P Global, Insurance, SVB, Thomson Locations: Global, Delaware , New York, Iowa, New York, London
☆ KKR to buy remaining stake in insurer Global Atlantic for $2.7 billion
  + stars: | 2023-11-29 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 29 (Reuters) - KKR & Co (KKR.N) said on Wednesday it would buy a remaining 37% stake in Global Atlantic Financial Group that it does not already own for $2.7 billion in an all-cash deal. Private equity firm KKR has served as the manager of Global Atlantic's investment portfolio since 2021 and said in July 2020 that it would buy the annuities and life insurance provider. Global Atlantic's assets under management have grown to $158 billion from $72 billion in 2020, the companies said. Under the terms of the deal, KKR will pay Global Atlantic's minority shareholders an amount in cash equal to Global Atlantic's book value, with certain adjustments. Global Atlantic serves policyholders through its retirement and life insurance products.
Persons: Brendan McDermid, Joe Bae, Scott Nuttall, Goldman Sachs, Noor Zainab Hussain, Devika Organizations: KKR, New York Stock Exchange, REUTERS, Co, Global Atlantic Financial Group, Global, Global Atlantic, Thomson Locations: New York, U.S, Bengaluru, Chibuike
☆ KKR posts 26% drop in Q1 earnings, beating expectations
  + stars: | 2023-05-08 | by ( Chibuike Oguh | Thomson Reuters | Chibuike Reports On Mostly Large U.S.-Based Private Equity Firms | ) www.reuters.com   time to read: +2 min
NEW YORK, May 8 (Reuters) - KKR & Co Inc (KKR.N) said on Monday its after-tax distributable earnings fell 26% year-on-year in the first quarter due to a sharp drop in asset sales from its private equity portfolio and lower transaction fees. KKR and other private equity firms cashed out on fewer investments during the quarter as inflation, higher interest rates, geopolitical tensions and financial market volatility weighed on dealmaking. After-tax distributable earnings, which represents the cash available for paying dividends to shareholders, fell to $719.3 million, down from $974 million posted a year. For its quarterly fund performance, KKR said its private equity portfolio gained 2%, infrastructure funds added 7%, leveraged credit funds grew 4%, while opportunistic real estate funds fell 3%. In comparison, the private equity funds of Blackstone and Carlyle appreciated by 2.8% and 1%, respectively.
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