KKR Exec Launches Policy Effort Aimed at Boosting Employee Ownership

An executive of KKR (NYSE: KKR), a private equity giant involved in the senior living industry, is spearheading a new effort aimed at promoting more employee ownership structures. The executive is Pete Stavros, co-head of global private equity at KKR. In 2019, the company became the capital partner of Waltham, Massachusetts-based Benchmark. The private equity […]

KKR Closes $4B Fund Aimed at Health Care Investments

KKR has closed a $4 billion fund aimed at health care investment, primarily in North America and Europe. The new fund, KKR Health Care Strategic Growth Fund II, is meant to serve as a successor to KKR’s Health Care Strategic Growth Fund, which held its final closing in 2017 with $1.45 billion in committed capital.  […]

KKR Closes $4.3B Real Estate Fund, Has Track Record in Senior Living

KKR has closed on a $4.3 billion real estate fund primarily aimed at U.S. markets. The fund, dubbed KKR Real Estate Partners Americas III, has won the backing of “a diverse group of new and existing global investors, including public pensions, sovereign wealth funds, insurance companies, family offices, high net worth individual investors and other […]

Transactions & Financings: Healthpeak’s $550M Cash Tender Offer; Bankruptcy Court Approves $76M Henry Ford Village Sale

Healthpeak Properties (NYSE: PEAK) continues to shore up its financial position. The Denver-based health care real estate investment trust (REIT) announced cash tender offers for up to $550 million in senior notes due in 2025. The offerings consist of $250 million in senior notes carrying a 3.4% interest rate, and $300 million in senior notes […]

Former LVMH Moët Hennessy-Louis Vuitton Exec: Senior Living Needs ‘Aesthetic Intelligence’

Senior living executives who are striving to differentiate their companies from the competition, meet rising consumer expectations and increase industry penetration rates could make progress toward those goals by increasing their aesthetic intelligence. That’s the message from Pauline Brown, former chairman of the North American division of LVMH Moët Hennessy-Louis Vuitton — an enterprise that […]

Private Equity Giant KKR Is Benchmark’s New Capital Partner

Global investment firm KKR (NYSE: KKR) is the new financial partner for Waltham, Massachusetts-based senior living provider Benchmark. At the end of July, real estate investment trust Welltower Inc. (NYSE: WELL) announced that it had disposed of its ownership interest in Benchmark for a gross sale price of $1.8 billion. At that time, Welltower and […]

PharMerica to Merge with Home Care Giant BrightSpring, Continue Assisted Living Push

Long-term care pharmacy PharMerica intends to merge with BrightSpring Health Services, a large provider of home- and community-based care. The two companies will be under the private equity ownership of KKR, with an affiliate of Walgreens Boots Alliance (Nasdaq: WBA) holding a minority stake, according to an announcement issued Tuesday. Full financial terms of the transaction […]

New $2 Billion KKR Fund to Invest in Senior Housing

Global investment firm KKR & Co. (NYSE: KKR) recently closed a $2 billion real estate fund that will be used to purchase value-add or opportunistic properties, including senior housing. The new fund has already spent or committed approximately $250 million of the capital raised, and a portion of that $250 million is going toward senior housing, […]

Movers & Shakers: Brookdale’s New Board Chairman

Brookdale Appoints New Director and Non-Executive Chairman of the Board Brookdale Senior Living (NYSE: BKD), the largest senior living operator in the U.S., announced that its Board of Directors has appointed Daniel Decker as Class I director and the non-executive chairman of the board in replacement of the late Granger Cobb, effective Oct. 1. “Dan is […]

Private Equity Groups Sold Sunrise Stake for $400 Million

The three private equity groups that invested in Sunrise Senior Living’s management business sold their stake for $400 million, according to a letter to investors obtained by Bloomberg News. Kohlberg Kravis Roberts & Co. L.P. (KKR), Beecken Petty O’Keefe & Company, and Coastwood Senior Housing Partners LLC purchased an 80% stake in the business for […]