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Fly News Breaks for February 3, 2020
Feb 3, 2020 | 07:53 EDT
BMO Capital analyst James Fotheringham raised his price target on KKR to $43 and kept his Outperform rating after its Q4 earnings beat driven by higher performance fees and investment income. The analyst also cites the company's confidence in its management fee growth of over 50% over the next 3 years as well as its "particularly strong" fundraising pipeline over the next 12-24 months. Fotheringham maintains that KKR is his top pick among asset management stocks.
News For KKR From the Last 2 Days
Jun 21, 2021 | 05:21 EDT
KKR and Vini Cosmetics announced the signing of a definitive agreement pursuant to which the company's founder group will sell a majority stake in the company to KKR for approximately $625M. The co-founders will continue to hold a significant stake in Vini and collaborate with KKR in the next phase of the company's growth. In addition, existing investor WestBridge Capital will acquire a further stake from the founder group to increase its shareholding in Vini. Founded in 2010, Vini manufactures, markets and distributes its branded deodorants, cosmetics and toiletries through its brand FOGG and other widely recognized brands, such as OSSUM, GlamUp, and several others. Vini has built one of India's largest personal care products distribution networks with approximately 700,000 points of sale and 3,000 dealers, supported by a sales force of 1,200 people. Vini's products are also sold internationally through a network of general trade and modern trade channels covering 50 countries, with presence in South Asia and the Middle East. Upon completion of the transaction, the co-founders and WestBridge Capital will continue to hold a significant position in Vini. Darshan Patel will continue as the chairman of Vini's Board and Dipam Patel will be appointed as vice chairman of the Board. KKR is making its investment from its Asian Fund IV. The transaction is expected to close in July, subject to customary closing conditions.