KKR agrees to buy Gen II Fund Services for $5.1 billion
KKR•KKR agreed to acquire Gen II Fund Services for a total enterprise value of $5.1 billion. The deal is expected to close in 2027, subject to customary closing conditions.
1. Deal details
KKR agreed to buy Gen II from Hg, General Atlantic and minority investors. Gen II provides fund administration to more than 275 private markets managers representing over $2 trillion in assets. CEO Steven Millner and the existing leadership team will continue to run the business. KKR plans to support U.S. and international expansion, broaden services, invest in proprietary technology and introduce an employee ownership program.
