KKR’s Global Atlantic Nets $2 Billion From Japan Post Insurance

A KKR & Co. unit is raising $2 billion from one of Japan’s largest life insurers, as the industry seeks to boost returns through new types of investment.

Japan Post Insurance Co. will invest the funds into a new vehicle that will be managed by KKR’s Global Atlantic Financial Group, a New York-based insurer. Japan Post will own a majority stake in the entity, which will invest in all of Global Atlantic’s businesses, including annuity products and life insurance.