On July 8, 2020, we announced that Global Atlantic entered a strategic partnership with KKR and would be acquired by KKR, kicking off an exciting new chapter of growth and opportunity.
KKR shares our deep commitment to the Retirement and Life markets, and Global Atlantic is a core part of KKR’s strategy. With KKR's acquisition, Global Atlantic will be positioned to meaningfully extend our leadership positions in the marketplace and deepen our position as a leading retirement and life insurance company.
Upon closing the transaction, Global Atlantic will operate as a stand-alone business led by our current leadership team. Our partnership with KKR will afford us a long-term capital structure and complementary investment management expertise that provides us with even greater flexibility and strengthens our position for future growth. The deal is expected to close in late 2020 or early 2021, subject to customary closing conditions, including regulatory approvals and shareholder approval.
KKR is an industry leading global financial services firm with over $200bn in assets under management, employees in 20 cities around the world and a market capitalization of roughly $29bn.
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