KKR eyes UK and European pension risk transfer tie-ups – report

KKR is successful talks with insurers crossed Europe arsenic it seeks to broaden Global Atlantic's scope successful the region's pension hazard transportation market, the Financial Times (FT) reported, citing unnamed sources.

The US concern firm, which manages much than $700bn successful assets, is weighing concern structures nether which it and an insurer would nonstop superior into investments sourced by KKR.

One root said KKR is not pursuing an outright acquisition of a European insurer, a way that differs from approaches taken by rivals.

Potential arrangements could inactive impact KKR investing from its ain equilibrium expanse into a spouse institution to backmost its growth.

An security enforcement told the FT that KKR had held discussions successful caller months with immoderate of the UK's largest insurers, including starring groups successful the UK beingness security sector, and had explored a imaginable concern with them.

The enforcement said the steadfast had "big" ambitions for the marketplace and would purpose to summation its beingness implicit time.

According to the FT, KKR passed connected a accidental to put successful a pension hazard transportation task being acceptable up by UK insurer Standard Life, which is expected to person backing from CVC, partially due to the fact that the concern was viewed arsenic excessively small.

Another root said KKR could inactive articulation the marketplace done a akin associated task structure.

A abstracted enforcement said that KKR had assessed each large UK pension hazard transportation providers and could question an extracurricular concern akin to the statement betwixt L&G and Blackstone.

KKR bought a bulk involvement successful Global Atlantic successful 2021 and took afloat ownership successful 2024.

Global Atlantic does not person a large beingness successful Europe, dissimilar Apollo Global Management's insurer Athora.

Athora completed a large UK pension hazard transportation transaction past year.

KKR has, however, deployed Global Atlantic superior successful European investments, including a €1.4bn ($1.59bn) indebtedness earlier this twelvemonth to Global Sports Group, a conveyance created by CVC that holds shot and different sporting league assets.

"KKR eyes UK and European pension hazard transportation tie-ups – report" was primitively created and published by Life Insurance International, a GlobalData owned brand.