KKR announces investment in FGS Global

KKR (KKR) announced an agreement to make a growth investment in strategic advisory and communications firm, FGS Global. Under the terms of the agreement, WPP (WPP) will remain the company’s majority owner and FGS employees will remain substantial shareholders. FGS also plans to expand its employee ownership to include nearly half of its staff worldwide. Golden Gate Capital, an FGS shareholder since 2016, will exit its investment through the sale of its interest to KKR. The transaction is expected to close before the end of the third quarter of 2023, subject to regulatory approvals and other customary closing conditions.