KKR to buy fund administrator Gen II in $5.1 billion deal including debt
KKR•KKR agreed to buy Gen II Fund Services in a $5.1 billion deal including debt, with the transaction expected to close in 2027.
1. Deal details
KKR will buy Gen II from Hg, General Atlantic and other minority investors. Gen II co-founder and CEO Steven Millner will continue to lead the company, KKR said.
2. Gen II’s business
Gen II provides tax, compliance, treasury and technology services to private equity, private credit and other private-market managers. It serves more than 275 investment firms representing more than $2 trillion in private-fund capital.
