LATEST
Wittington Investments agreed to acquire BootsnewMiddle River Power acquired Panoche Energy CenterAltaris acquired Simulations PlusCD&R agreed to acquire Option Care HealthKKR agreed to acquire Gen II Fund ServicesClean Harbors acquired EnviroServeAurora Capital Partners acquired SoftdocsSamfara acquired Chr. Olesen SynthesisMontagu acquired a majority stake in HelixBanner Capital agreed to acquire Seaway Plastics Engineering, MME Group, and Wright Engineered PlasticsDiversis Capital acquired Tideworks Technology®Advent / CONTPAQi: majority stake
Open App
Agreement signedPublished 6 Oct 2026

KKR /
Gen II Fund Services

KKR agrees to buy fund administrator Gen II from Hg and General Atlantic

Buy side: KKR
Buy sideKKR
Hg · 6 Oct 2026Source
See the source
Follow KKR Follow Gen II Fund Services
Buy side: KKR
Buy sideKKR
01 / BuyerKKR
02 / SellerHg, General Atlantic
03 / TargetGen II Fund Services
Source for the buyer, seller and target: Hg

For the buyer, seller and target.

buyer and target

“NEW YORK, October 6 – KKR, a leading global investment firm, today announced the agreement to acquire Gen II Fund Services, LLC (“Gen II”), a global leader in private capital fund administration, for a total enterprise value of $5.1 billion.”

seller

“KKR is acquiring Gen II from Hg, General Atlantic and other minority investors through its Core Private Equity strategy.”

Published 6 Oct 2026

Open the source
01

What happened

KKR has agreed to acquire Gen II Fund Services at a total enterprise value of $5.1 billion, Hg said on October 6, 2026. The sellers are Hg, General Atlantic and other minority investors, and KKR is buying through its Core Private Equity strategy. [01]

CEO Steven Millner and the existing leadership team will continue to run Gen II. Closing is expected in 2027, subject to customary conditions and regulatory approvals. [01]

02

The source

Everything on this page comes from the source below, quoted word for word.

01
Source · Hg

KKR agrees to buy fund administrator Gen II from Hg and General Atlantic

This document is the source for the companies, stage, figure and people on this page.

Open the source
03

Timeline

Every date the source states, in order, each with the words it comes from. Anything marked ahead is a target the source gives, not something that has happened.

  1. Announced

    “KKR agrees to buy fund administrator Gen II from Hg and General Atlantic KKR has agreed to acquire Gen II Fund Services at a total enterprise value of $5.1 billion, Hg said on October 6, 2026”

    Open the source

  2. Published by Hg

    The source this page is built from.

    Open the source

The same firms, in other deals

The firms' deal history and connections across other deals.

These firms' full profiles are part of Pro.

Request an inviteAlready invited? Sign in

Carrywatch Pro is by invitation. An invite lets you buy Pro.

04

Deal Web

Every firm and person on this deal, and how they connect. Open any name to see their other deals.

Deal Web · 4 firms · 0 peopleHover a name to see how it connects
This dealKKR / Gen II Fund ServicesAgreement signed · Published 6 Oct 2026
BuyerKKRTargetGen II Fund ServicesSellerHgSellerGeneral Atlantic
This dealKKR / Gen II Fund Services

Agreement signed · KKR agreed to acquire Gen II Fund Services from Hg, General Atlantic (Agreement signed, published 6 Oct 2026).

Announced 6 Oct 2026
Timeline
  1. Announced
  2. Published by Hg
Hover or tap a name to see how it connects, and when
Deal Web as a list
  • KKR (Buyer) agreed to acquire this deal. KKR: 4 deals on Carrywatch.
  • Gen II Fund Services (Target) target this deal. Gen II Fund Services: 1 deal on Carrywatch.
  • Hg (Seller) selling this deal. Hg: 2 deals on Carrywatch.
  • General Atlantic (Seller) selling this deal. General Atlantic: 1 deal on Carrywatch.