KKR to buy Global Atlantic in $4.4bn deal
Deal gives private-equity giant a stronger hold in the insurance sector
New York — KKR has agreed to buy Global Atlantic Financial in a deal that gives it a major presence in the insurance industry and adds long-term capital.
The alternative-investment manager will acquire closely held Global Atlantic’s outstanding shares, according to a statement on Wednesday, in a transaction that could be valued at about $4.4bn. Global Atlantic, which was founded within Goldman Sachs in 2004 and became independent in 2013, had more than 2-million policyholders through its retirement and life insurance products and almost $70bn in invested assets as of March 31...