KKR, Quadrantis Capital to acquire minority stakes in Peak Re

Peak Reinsurance and KKR (KKR) announced that funds managed by KKR and Quadrantis Capital have entered into definitive agreements to acquire minority stakes in Peak Re via Peak Reinsurance. Upon completion, KKR and Quadrantis Capital are expected to hold approximately 11.27% and approximately 1.80% of Peak Re’s issued share capital, respectively, with the remaining approximately 86.71% continuing to be held by the majority shareholder, Fosun International Limited. Prudential Financial, which indirectly held an approximate 13.07% minority stake, has divested its stake in Peak Re following the signing of definitive agreements by funds managed by KKR and Quadrantis Capital. The investments by KKR and Quadrantis Capital into Peak Re are expected to close in Q4, subject to customary closing conditions including regulatory approvals.