India, Oct. 6 -- KKR & Co. Inc. (KKR) announced an agreement to acquire Gen II Fund Services, LLC or Gen II, a private capital fund administration firm, for a total enterprise value of $5.1 billion. The investment firm is acquiring Gen II from shareholders Hg, General Atlantic, and other minority investors through its Core Private Equity strategy.
The transaction is subject to customary closing conditions and regulatory approvals, with an expected close in 2027.
Gen II, founded in 2009 by Steven Millner, Steven Alecia, and Norman Leben, serves the private markets industry, providing fund administration services to more than 275 investment managers representing over $2 trillion in assets. The company also offers tax, compliance, treasury, ...