Group 1 - The consortium is close to finalizing a deal to acquire ST Telemedia Global Data Centres, with the transaction valued at over $10 billion [1]

2026年1月20日，管理着7230亿美元资产的全球投资巨头KKR宣布，通过旗下美元基金及首支人民币基 金完成了对真菌生物技术公司施尔丰的追加投资。 参与本轮投资的机构还包括TPG NewQuest、平安资本、中邮保险等，阵容堪称豪华。而这已是KKR自 2018年首次投资施尔丰背后的中国公司江苏裕灌以来的第二轮主要投资。 事件回溯 这笔交易的背景可追溯至2018年，当时KKR向江苏裕灌现代农业科技有限公司投资约20亿元人民币， 该公司由中国"蘑菇大王"黄健光创立。 在获得KKR投资后，江苏裕灌的灌南基地迅速成长为全球最大的双孢菇生产单体，年营收可达5亿元。 同年，在KKR的协助下，江苏裕灌全资收购了成立于1932年的美国施尔丰公司。 施尔丰成立于1932年，是全球领先的蘑菇菌种和真菌生物技术企业，公司专注于开发真菌生物体系潜 力，为食品、健康、农业和材料领域提供可持续解决方案。目前，施尔丰在全球运营着多个生产基地， 为65个国家的客户提供服务。 2025年4月，施尔丰曾获得诺和控股的投资，而在此轮投资中，诺和控股也继续追加了持有份额。本次 追加投资后，KKR继续保持施尔丰的控股股东地位。 投资阵容 本次KKR ...

Group 1 - Private equity stocks have gained attention recently due to the bankruptcies of Tricolor and First Brands in late 2025, highlighting the underlying financial risks in the equity market [1]

Group 1 - Private equity stocks have gained attention recently due to the bankruptcies of Tricolor and First Brands in late 2025, highlighting the underlying financial risks in the equity market [1]

Core Viewpoint - KKR Inc. is experiencing a decline in stock performance, prompting long-term shareholders to consider the company's price-to-earnings (P/E) ratio as a potential indicator of future performance [1]. Group 1: Stock Performance - KKR Inc. is currently trading at $124.00, reflecting a decrease of 1.81% in the current session [1]. - Over the past month, KKR's stock has fallen by 7.02%, and it has decreased by 24.78% over the past year [1]. Group 2: P/E Ratio Analysis - The P/E ratio is a critical metric for long-term investors, comparing the current share price to the company's earnings per share (EPS) [3]. - A higher P/E ratio suggests that investors expect better future performance, potentially indicating overvaluation, while a lower P/E may suggest undervaluation or weaker growth prospects [3][6]. - KKR Inc. has a P/E ratio of 51.88, which is lower than the Capital Markets industry average of 60.89, leading to speculation that KKR may perform worse than its peers or could be undervalued [4]. Group 3: Investment Considerations - While the P/E ratio is a valuable tool for evaluating market performance, it should be used cautiously and in conjunction with other financial metrics and qualitative factors [6]. - A comprehensive approach to analyzing a company's financial health is essential for making informed investment decisions [6].

就 中 国 而 言 ， KKR 将 中 国 2026 年 GDP 增 长 预 期 上 调 至 4.6% （ 高 于 此 前 的 4.1% 和 市 场 共 识 的 4.4%），2027年增长预期上调至4.4%（高于市场共识的4.1%），预计"十五五"期间平均实际增 长率约为4.5%。 私募股权、实物资产和私募债权的5年预期回报最突出。 本文为IPO早知道原创 作者｜ 罗宾 微信公众号｜ipozaozhidao 据 IPO 早 知 道 消 息 ， 近 日 ， 知 名 另 类 资 产 管 理 机 构 KKR 发 布 了 主 题 为 《 组 合 高 质 化 （ High Grading）》的2026年全球宏观经济展望报告，预计在相对积极的政策发展环境与强劲的技术驱动 投资的支撑下，2026年经济增长将高于市场共识预期。报告同时指出，全球经济正处于由数字化、 自动化及人工智能加速渗透所引领的生产力复兴周期之中。 KKR表示，迈入2026年，全球前景依然向好，但市场显然处于债权周期后期， 而公开市场目前 能 够 较 好 反 映 近 期 生 产 率 改 善 带 来 的 成 果 。 在 此 背 景 下 ， KKR 建 议 采 ...

Core Viewpoint - KKR has announced an additional investment in Sylvan, a leading mushroom cultivation and fungal biotechnology company, through its managed USD and RMB funds, marking a continued commitment to support the company's expansion plans [2][7]. Group 1: Company Background - Sylvan is backed by Jiangsu Yuguan Modern Agricultural Technology Co., founded by Huang Jianguang, known as the "Mushroom King" in China [3]. - Huang Jianguang started his mushroom business in the 1980s, leading to his company becoming a major player in the canned mushroom market, with 68% of canned mushrooms exported from China being produced by his enterprise [5]. - In 2010, Jiangsu Yuguan began cultivating high-quality fresh white mushrooms, which account for approximately 40% of the edible mushroom market globally [6]. Group 2: Investment Details - KKR's initial investment in Jiangsu Yuguan was approximately RMB 2 billion in 2018, which helped the company become the largest single production unit for white mushrooms globally, generating revenues of RMB 500 million [6]. - The recent investment round was led by KKR and included participation from several global investors, such as TPG NewQuest, Ping An Capital, and Schroders Capital [6][7]. Group 3: Market and Growth Potential - The new investment will support Sylvan's plans to enhance production capacity, strengthen R&D capabilities, and expand into high-growth product lines, particularly in the rapidly industrializing mushroom and bioproduct markets in Asia [7]. - KKR's assets under management (AUM) reached USD 723 billion (approximately RMB 5 trillion) as of September 30, 2025, indicating its significant presence in private equity and credit markets [9].

本报讯(记者韩昱) 1月21日，《证券日报》记者获悉，全球投资公司KKR当日宣布通过其管理的基金完成对施尔丰的新一 轮投资。施尔丰成立于1932年，致力于开发利用真菌生物体系的潜力，创造可持续的解决方案，以应对 食品、健康、农业和材料领域的全球性挑战。如今，该公司在全球运营着多个生产基地，为65个国家的 客户提供服务。 此轮融资同时由新投资者参与，现有投资者诺和控股继续参与本轮融资、追加持有份额。本次投资完成 后，KKR继续作为施尔丰的控股股东。 KKR是一家提供另类资产管理、资本市场与保险解决方案的投资机构。KKR合伙人兼中国私募股权业 务负责人孙铮表示："在我们双方的战略合作下，施尔丰实现了持续增长，包括强劲的扩张、研发升级 和战略收购。我们与管理层紧密合作，拓展了施尔丰在全球真菌生物技术及更广泛领域的布局。KKR 很高兴欢迎来自海外和中国的新投资者加入我们，共同支持施尔丰扩展其平台和全球影响力。" 据了解，此轮新追加的投资标志着KKR对施尔丰下一阶段扩张计划的持续支持，包括提升产能、强化 研发能力、拓展高增长产品线，并深化公司在亚洲快速工业化蘑菇及生物制品市场的布局。 ...

BEIJING--(BUSINESS WIRE)--KKR-led Consortium Drives Further Investment in Sylvan. ...

Core Insights - Despite increasing warnings about relaxed loan approval standards and rising borrower pressures, demand for private credit remains strong [1][3] - The private credit market has evolved into a multi-trillion dollar industry, becoming a core allocation for institutional investors [3][5] Group 1: Market Dynamics - The case of First Brands Group highlighted the accumulation of aggressive debt structures under a prolonged period of loose financing [1] - JPMorgan's CEO Jamie Dimon warned that risks in private credit are "lurking in plain sight," suggesting potential widespread issues if economic conditions worsen [1] - Despite reports of over $7 billion in withdrawals from major Wall Street firms, capital continues to flow into private credit funds, with KKR raising $2.5 billion for its second Asian credit opportunities fund [1][2] Group 2: Investor Behavior - Institutional investors, including pension funds and insurance companies, have shifted their view of private credit from a niche alternative to a long-term portfolio component [3] - The demand for private credit is supported by structural factors, including ongoing financing needs from mid-sized companies and infrastructure developers [3][4] Group 3: Pressure Signals - Goldman Sachs warned that high interest rates are increasing borrowing costs, with approximately 15% of borrowers unable to generate sufficient cash to cover interest payments [7] - The impact of high interest rates is expected to permeate balance sheets, potentially deteriorating the credit quality of both high and low-quality borrowers by 2026 [8] - There are significant differences in leverage and borrower pressures across markets, with the Asian private credit market being less saturated compared to the U.S. and Europe [8]