KKR, Quadrantis to Acquire Minority Stake in Hong Kong’s Peak Re

KKR & Co. and Quadrantis Capital agreed to acquire minority stakes in Hong Kong-based Peak Reinsurance Co.

KKR and Quadrantis will hold about 11.3% and 1.8% of Peak Re, respectively, after the deal is completed, according to a statement Tuesday, which confirmed an earlier Bloomberg News report. Fosun International Ltd. will hold the remaining 86.7% in the reinsurer.

Prudential Financial Inc. has sold its indirect holding of about 13.1% in Peak Re following the deal with KKR and Quadrantis. The transaction is expected to close in the fourth quarter, pending regulatory approvals.

The investment from KKR and Quadrantis will ...