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☆ KKR raises $2.8 billion for second global impact fund
▼ + stars: | 2023-11-05 | by ( Greg Roumeliotis | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 5 (Reuters) - Private equity firm KKR & Co Inc (KKR.N) has completed the raise of its second global impact fund dedicated to investments that advance sustainability and social equity, amassing $2.8 billion. To fall within the impact fund's scope, investments must advance one or more of the United Nations 17 sustainable development goals in a measurable way. The impact fund can invest in companies alongside KKR's other private equity funds, though in the majority of its investments it is the sole KKR fund participating. KKR's global impact team, which has grown from four people when it launched in 2018 to more than 20, so far has made 18 investments. "We target middle-market private equity returns in line with our other businesses," Antablin said.

Persons: Brendan McDermid, Ken Mehlman, Robert Antablin, Mehlman, Antablin, Greg Roumeliotis, Will Dunham Organizations: KKR, New York Stock Exchange, REUTERS, Co Inc, Reuters, United Nations, Systems, Alliance, Thomson Locations: New York, U.S, India

☆ How Wall Street's REIT giants are reshaping U.S. real estate
▼ + stars: | 2023-09-01 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

U.S real estate investment trusts today manage $4.5 trillion in real estate worldwide. KKR's real estate business is one of the big players in the REIT game. The KKR Real Estate Select Trust, which currently manages $1.5 billion in assets, paid a dividend of 5.4% to its investors in July 2023. said Billy Butcher, CEO of KKR's global real estate business. Watch the video above to learn the fundamentals of real estate investment trusts.

Persons: Billy Butcher, Sher Hafeez, Jones Lang LaSalle, Michael Pestronk, REITs Organizations: KKR, Trust, CNBC, Jones, P Global Investments, Post, Invitation Locations: Philadelphia

☆ KKR's private equity co-head says it's a great time to do deals, but be sure to exercise caution
▼ + stars: | 2023-07-27 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Brendan McDermid | ReutersPrivate equity firms should be motivated to hunt for deals despite the challenging interest rate environment as the potential purchase price tends to be more in their favor, according to KKR's Global Co-Head of Private Equity Pete Stavros. "This is a great time to do deals," Stavros said in an interview with CNBC's Leslie Picker for the Delivering Alpha newsletter. Zoom In Icon Arrows pointing outwardsPrivate equity fundraising has slowed down drastically after a series of aggressive interest rate hikes made borrowing costs skyrocket. Globally, private equity funds raised $444.65 billion in the first half, down 20.5% year over year from, according to S&P Global Market Intelligence. "When the public markets are more volatile and when credit markets are tighter, better return deals are done.

Persons: Brendan McDermid, Private Equity Pete Stavros, Stavros, CNBC's Leslie Picker Organizations: KKR, New York Stock Exchange, Reuters, KKR's Global, Private Equity, Delivering Alpha, P Global Market Intelligence

While there has been some scrambling to amend contracts linked to Libor over the past month, the transition was well telegraphed and no major issues are expected, loan and derivatives market participants and lawyers said in interviews. "I feel like it has been two to three years now that we have been re-papering all the legacy loans and legacy securities we purchased tied to Libor," said Scott DiMaggio, co-head of fixed income, at Alliance Bernstein. Friday at 11:55 a.m. British Summer Time (1055 GMT) marked the last publication for the 1-month, 3-month and 6-month U.S.-dollar Libor interest rates. Other U.S. dollar tenors were largely phased out for new contracts at the end of 2021 along with Libor rates linked to other currencies. Derivatives markets based on Libor had already mostly moved to new benchmarks without major disruption, while some corners of the loan markets, such as syndicated loans, have been busy with contract amendments, market participants said.

Persons: Scott DiMaggio, Alliance Bernstein, Shah, Federal Reserve Bank of New York's, Libor, Tal Reback, Gennadiy Goldberg, John McCrank, Gertrude Chavez, Dreyfus, Alden Bentley, Stephen Coates Organizations: YORK, Alliance, Regulators, Federal Reserve Bank of New, U.S, Britain's, Authority, Libor, TD Securities, Thomson Locations: London, Iran, U.S, New York

☆ Analysis: Clock ticking for loan market as Libor nears its end
▼ + stars: | 2023-02-16 | by ( John Mccrank | ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, Feb 16 (Reuters) - It's crunch time for the corporate loan market. "The shot clock is on," said Tal Reback, who leads KKR's global Libor transition efforts. The Libor transition began in 2017 and had been smooth until 2022, when rising interest rates, decades-high inflation, Russia's war on Ukraine and recessionary fears rocked markets. "The new issue market shut down," said Ian Walker, head of legal innovation at financial information provider Covenant Review. Libor was phased out for new contracts at the end of 2021, though most existing U.S. dollar-denominated contracts have until June 30 to switch.

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