Global investment firm KKR and Portugal-based Quadrantis Capital are set to acquire minority interests in Peak Reinsurance Company, according to a report by Reuters. The firm is majority-owned by Hong Kong-listed Fosun International.
Under the terms of the transaction, KKR will purchase approximately 11.3% of Peak Reinsurance from Prudential Financial, while Quadrantis will acquire a 1.8% stake. Following the investment, Fosun will retain 86.71% ownership.
Both deals are expected to close in the final quarter of this year.
The acquisition supports KKR’s strategic build-out in Asia’s insurance and reinsurance sectors, following its recent investment in the Japanese insurance distributor Hoken Minaoshi Hompo Group.
