On June 27, KKR fell 3.03% in regular trading, trading at $89.64/share, with turnover of $373 million.
On the news front, KKR announced it has signed an agreement with French utility giant EDF to irrevocably acquire the operations and assets of EDF Power Solutions in the United States and Canada. The large-scale acquisition implies increased near-term capital expenditure, with market participants divided over the transaction valuation and integration prospects.
Adding to the pressure, the broader asset management sector faced selling, with peer Ares Management declining 3.24% on the same day. The sector had already experienced volatility in recent weeks following redemption restrictions imposed by Swiss asset manager Partners Group on an $8.6 billion private equity fund in early June, which triggered widespread concerns over liquidity risks across the alternative asset management industry.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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