KKR agrees to acquire Gen II for $5.1 billion
The pending transaction would transfer the fund administrator from Hg and General Atlantic; closing is expected in 2027.
KKR agreed to acquire Gen II Fund Services from Hg, General Atlantic and other minority investors for a total enterprise value of $5.1 billion. The fund administrator serves more than 275 investment managers representing over $2 trillion in assets, with tax, compliance, treasury and technology services alongside administration.
KKR plans to invest through its Core Private Equity strategy. Gen II's current leadership will continue to run the business.
The transaction remains subject to customary closing conditions and regulatory approvals and is expected to close in 2027.
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