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.

Japanese insurers have come under pressure to diversify investments and boost returns as a declining population hampers growth opportunities at ...