What is Marshall Wace LLP?

Marshall Wace LLP is an investment management firm. While the filing doesn't provide extensive detail, it is known for its expertise in quantitative and fundamental equity strategies, particularly in the technology sector.

Why did KKR issue its own stock for this acquisition?

Issuing KKR Class A Common Stock as part of the consideration allows KKR to conserve cash while providing the sellers (Marshall Wace equityholders) with an ownership stake in KKR. This can be a strategic way to align interests and facilitate the transaction.

What is the significance of the Section 4(a)(2) exemption?

This exemption means that the shares were not registered with the Securities and Exchange Commission (SEC) because the transaction was deemed a private offering to a limited number of sophisticated investors (the Marshall Wace equityholders), who are presumed to have access to the kind of information that registration would otherwise provide.

Does this investment change KKR's business model?

This filing indicates a specific investment rather than a fundamental shift in KKR's business model. It suggests KKR sees strategic value in Marshall Wace's operations, potentially for partnership, future opportunities, or diversification within its investment portfolio.

KKR & Co. Inc. 8-K: Securities & Listing

Summary

KKR & Co. Inc. has announced the acquisition of a 5.0% equity interest in Marshall Wace LLP and its affiliates through a subsidiary. This strategic investment was completed on November 22, 2019. The transaction was funded using a mix of cash and the issuance of 5.7 million shares of KKR Class A Common Stock to existing equityholders of Marshall Wace. This issuance of shares was conducted as a private placement, exempt from registration requirements under Section 4(a)(2) of the Securities Act of 1933.

Key Highlights

1KKR acquired a 5.0% equity stake in Marshall Wace LLP.
2The investment was made through a KKR subsidiary.
3The transaction closed on November 22, 2019.
4Funding involved both cash and the issuance of KKR Class A Common Stock.
55.7 million shares of KKR Class A Common Stock were issued to Marshall Wace equityholders.
6The share issuance was a private placement, exempt from SEC registration.
7This move indicates a strategic partnership or investment in Marshall Wace's business.

KKR & Co. Inc. 8-K Report, Unregistered Securities Sale (Nov 22, 2019)

Summary

Key Highlights

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