KKR to Acquire Gen II Fund Services for $5.1 Billion

GA Group Acquires G2 Capital Advisors

April 6, 2026

Financial Services

GA Group, backed by Oaktree Capital Management funds, announced the successful acquisition of Boston-headquartered investment bank and restructuring advisory firm G2 Capital Advisors. The deal is intended to create a full-lifecycle advisory and investment banking platform serving the middle market, combining GA Group’s advisory/valuation/field exam and asset services with G2’s capital markets and restructuring capabilities.

Gen II Fund Services Acquires Crestbridge

July 12, 2023

Financial Services

Gen II Fund Services, LLC agreed to acquire Crestbridge, a European private capital fund administrator, expanding Gen II’s international footprint and product capabilities. The deal (signed July 2023) closed April 16, 2024, increasing Gen II’s assets under administration to over $1 trillion and creating a combined roster of roughly 1,700+ professionals across North America and Europe.

Warburg Pincus Acquires K2 Insurance Services from Lee Equity Partners

December 1, 2022

Insurance

Warburg Pincus has agreed to acquire K2 Insurance Services from Lee Equity Partners to support the company's next phase of growth, including M&A and de-novo incubation. K2, a San Diego-based specialty insurance program manager that services over $1 billion in premiums through a portfolio of MGAs, will be backed by Warburg Pincus to expand its underwriting and distribution capabilities.

Gen II Fund Services Acquires Update Capital

March 14, 2022

Software

Gen II Fund Services has acquired Update Capital, a Vancouver-based provider of cloud-based investment management technology for the real estate asset class. The acquisition brings Update Capital’s product and its co-founder Ran Kohavi (who will join Gen II as Chief Product Technology Officer) into Gen II to strengthen the firm’s technology capabilities for alternative asset managers.

Gen II Fund Services Secures Strategic Investment from General Atlantic, Hg and IHS Markit

November 6, 2020

Financial Services

Gen II Fund Services, a leading independent alternative asset fund administrator headquartered in New York and Luxembourg, has secured a new strategic investment led by General Atlantic and Hg, with IHS Markit making a minority investment. The founders and management will retain a significant stake while the capital and partners will be used to expand Gen II's technology-enabled fund administration capabilities and global reach.

KKR & Co. Inc. Acquires Global Atlantic Financial Group

July 8, 2020

Financial Services

KKR & Co. Inc. has agreed to acquire all outstanding shares of Global Atlantic Financial Group Limited, a leading retirement and life insurance company, in a transaction valued at approximately 1.0x Global Atlantic's book value. Global Atlantic will continue to operate as a separate business with its existing management team and will gain access to KKR's asset management and origination capabilities to support growth and expand KKR's permanent capital base.