KKR to up direct stakes in trio of companies including USI as Chubb co-invests
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KKR is increasing its direct stakes in USI Insurance Services, 1-800 Contacts, and Heartland Dental by approximately $1.1 billion, with Chubb co-investing an additional $1.0 billion. KKR's CFO highlighted that this investment will enhance their Strategic Holdings segment, which currently owns about 20% of KKR's core private equity business. The firm believes these investments will significantly contribute to long-term earnings growth. KKR previously acquired USI in 2017 and recently became its largest shareholder after a $1 billion equity investment in September 2023.
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