General Atlantic to Sell Stake in Gen II Fund Services to KKR in $5.1 Billion Deal

Paul, Weiss is advising General Atlantic on the sale of its stake in Gen II Fund Services, LLC, a global leader in private capital fund administration, to KKR, for an enterprise value of $5.1 billion. Under the agreement, KKR will acquire Gen II from General Atlantic, Hg Capital and other minority investors. The deal is expected to close in 2027, subject to customary closing conditions and regulatory approvals.

The Paul, Weiss team is led by corporate partners Matthew Abbott and Neil Goldman and includes partner Ji Lu.