KKR Pitches Third Ivy Fund That Invests in Reinsurance Deals

KKR & Co. started approaching investors about committing to the third iteration of a fund that invests in reinsurance deals alongside its Global Atlantic unit, according to people with knowledge of the matter.

The alternative asset manager has started seeking commitments for Ivy Co-Invest Vehicle III LLC, the people said, asking not to be identified discussing confidential matters. The Ivy funds co-invest with Global Atlantic in reinsurance transactions for different liabilities, including fixed annuities and life insurance, according to a KKR investor presentation.

Reinsurance transactions allow insurers to manage their risk exposure by selling books of policies to another ...