Snapshot
Global investment firm across private equity, infrastructure, real estate, credit and insurance. It fully owns Global Atlantic (annuities and reinsurance) and runs a large Capital Markets business.
Talking points
- Global Atlantic is a regulated insurer needing policy admin and actuarial modernization.
- Japan corporate carve-outs (KKR is active there) need separation and TSA expertise.
Likely opportunities
- Portfolio carve-outs and value creation. Global Atlantic systems modernization. Infrastructure program delivery.
Outreach plans
3 plans for the main opportunities, in outreach wave 1. All budgets, deal sizes and dates are planning estimates made from the public brief, not from client data or Accenture financials. Executive names are used only where the brief also names them; verify roles and names before outreach.
1Portfolio carve-outs and value creationCost & operationsIdentified$2.8M–$11M
The KKR & Co. brief flags this opportunity: Portfolio carve-outs and value creation. Lead with a fixed-scope 4-week entry offer that proves value quickly, then grow it into a rolling set of value-creation programs across the largest holdings.
From opportunity: Portfolio carve-outs and value creation
- Why now
- Internal data and tech platforms.
- Buyers
- Head of Portfolio Operations · Deal partners for the 3-5 largest holdings · CFO Robert Lewin · Head of Value Creation (AI)
- Our sponsor
- Accenture Private Equity practice MD, with the Strategy & Consulting value-creation lead
- Entry
- A 4-week portfolio scan of 10-15 holdings that ranks AI and cost levers by EBITDA impact and time to value, delivered at no fee in exchange for first-call status on the top three programs.. Existing CAL relationship. Account lead (David.Cullen-Jones) brokers the first meeting with the Head of Portfolio Operations, and the sponsor brings the point of view.
- Proof points
- Portfolio company value creation case studies
Deal size$2.8M–$11M
Pursuit cost$145K
Win probability35%
Estimate: Estimate. Pursuit cost is about 29 person-weeks of account, sponsor and SME time at a blended $5,000 per person-week. The entry offer itself is a fixed fee of roughly $100k, or an Accenture investment if the pursuit is contested. The deal range is the 12-24 month follow-on (a rolling set of value-creation programs across the largest holdings), scaled for a large client from a reference range of $5-20M. It is not based on client budget data. Win probability of 35% is a planning assumption for a Mega Diamond.
Outreach sequence
- Week 1Screen public data on the largest portfolio companies and size AI and cost levers per holding. Map the buying group (Head of Portfolio Operations, Deal partners for the 3-5 largest holdings, CFO Robert Lewin) and known Accenture relationships.Account lead (David.Cullen-Jones) with an industry SME
- Week 2Confirm the sponsor, pick two reference clients, and line up support from Microsoft and AWS for AI build credits.Sponsor
- Week 3Reach the Head of Portfolio Operations with a one-page note on portfolio carve-outs and value creation, through the account lead.Account lead (David.Cullen-Jones)
- Week 4-5Executive meetings with the Head of Portfolio Operations and the Deal partners for the 3-5 largest holdings: test the hypotheses and offer the entry offer.Sponsor and account lead
- Week 6-7Run a value-creation working session with the operating partners using two comparable portfolio case studies.Industry and technical SMEs
- Week 8Scope and price the entry offer with the client's working team; agree success measures.Pursuit lead
- Week 9-10Proposal review with the economic buyer (CFO Robert Lewin) and procurement.Sponsor
- Week 11-12Sign the entry offer and mobilize the 4-week team.Delivery lead
- Week 16Read out results and propose the follow-on: a rolling set of value-creation programs across the largest holdings.Sponsor and delivery lead
Timeline
Nov 2026Mar 2027
Prepare and engageFirst executive meeting held with the Head of Portfolio Operations
ShapeEntry offer scoped with the client's working team
ProposeEntry offer signed
Deliver entry offerResults read out and follow-on proposal submitted
ExpandFollow-on program signed
Success measures
- Portfolio scan accepted and 3 holdings prioritized
- First portfolio-company program signed within 120 days
- EBITDA uplift of 3-8% at programs delivered (target, client's measure)
Risks
- Operating partners prefer boutique firms and in-house teams for value creation
- Hold periods and exit timing can cancel programs mid-flight
- Competition (from the brief): Capstone (KKR's in-house operations team) plus strategy firms and SIs at portfolio level.
2Global Atlantic systems modernizationCloud & coreIdentified$11M–$33M
The KKR & Co. brief flags this opportunity: Global Atlantic systems modernization. Lead with a fixed-scope 8-week entry offer that proves value quickly, then grow it into a multi-year modernization program delivered in migration waves.
From opportunity: Global Atlantic systems modernization
- Why now
- Global Atlantic is a regulated insurer needing policy admin and actuarial modernization.
- Buyers
- CIO · CTO · COO · CFO Robert Lewin
- Our sponsor
- Accenture Technology MD for the account, with the Cloud First lead for Financial Services
- Entry
- An 8-week modernization blueprint: application portfolio scan, target architecture, migration waves and a self-funding business case, using Accenture tooling for code and dependency analysis.. Existing CAL relationship. Account lead (David.Cullen-Jones) brokers the first meeting with the CIO, and the sponsor brings the point of view.
- Proof points
- Core and platform modernization case studies
Deal size$11M–$33M
Pursuit cost$195K
Win probability35%
Estimate: Estimate. Pursuit cost is about 39 person-weeks of account, sponsor and SME time at a blended $5,000 per person-week. The entry offer itself is a fixed fee of roughly $200k, or an Accenture investment if the pursuit is contested. The deal range is the 12-24 month follow-on (a multi-year modernization program delivered in migration waves), scaled for a large client from a reference range of $20-60M. It is not based on client budget data. Win probability of 35% is a planning assumption for a Mega Diamond.
Outreach sequence
- Week 1Estimate the legacy estate and run cost from public tech spend and peer benchmarks. Map the buying group (CIO, CTO, COO) and known Accenture relationships.Account lead (David.Cullen-Jones) with an industry SME
- Week 2Confirm the sponsor, pick two reference clients, and line up support from the client's hyperscaler and core platform vendor.Sponsor
- Week 3Reach the CIO with a one-page note on global Atlantic systems modernization, through the account lead.Account lead (David.Cullen-Jones)
- Week 4-5Executive meetings with the CIO and the CTO: test the hypotheses and offer the entry offer.Sponsor and account lead
- Week 6-7Show a gen-AI-assisted code analysis of a comparable legacy estate and a wave plan from a peer migration.Industry and technical SMEs
- Week 8Scope and price the entry offer with the client's working team; agree success measures.Pursuit lead
- Week 9-10Proposal review with the economic buyer (CFO Robert Lewin) and procurement.Sponsor
- Week 11-12Sign the entry offer and mobilize the 8-week team.Delivery lead
- Week 20Read out results and propose the follow-on: a multi-year modernization program delivered in migration waves.Sponsor and delivery lead
Timeline
Dec 2026May 2027
Prepare and engageFirst executive meeting held with the CIO
ShapeEntry offer scoped with the client's working team
ProposeEntry offer signed
Deliver entry offerResults read out and follow-on proposal submitted
ExpandFollow-on program signed
Success measures
- Blueprint signed
- First migration wave live on schedule
- Run cost down 15-30% on migrated scope (target)
Risks
- Core vendors and offshore integrators bid aggressively on rates
- Multi-year programs need sustained board funding
- Competition (from the brief): Capstone (KKR's in-house operations team) plus strategy firms and SIs at portfolio level.
3Infrastructure program deliveryCost & operationsIdentified$2.8M–$8.2M
The KKR & Co. brief flags this opportunity: Infrastructure program delivery. Lead with a fixed-scope 4-week entry offer that proves value quickly, then grow it into program controls across the infrastructure portfolio.
From opportunity: Infrastructure program delivery
- Why now
- Diversified alternatives plus insurance (Global Atlantic); CFO upbeat on the 2026 deal outlook.
- Buyers
- Head of Infrastructure / Real Assets · Portfolio company CEOs · COO · CFO Robert Lewin
- Our sponsor
- Accenture Infrastructure and Capital Projects lead, with the Financial Services client lead
- Entry
- A 4-week capital program assurance review on one flagship asset: schedule, cost and supplier risk, with a digital program-controls setup.. Existing CAL relationship. Account lead (David.Cullen-Jones) brokers the first meeting with the Head of Infrastructure / Real Assets, and the sponsor brings the point of view.
- Proof points
- Infrastructure and real-asset programs case studies
Deal size$2.8M–$8.2M
Pursuit cost$105K
Win probability35%
Estimate: Estimate. Pursuit cost is about 21 person-weeks of account, sponsor and SME time at a blended $5,000 per person-week. The entry offer itself is a fixed fee of roughly $100k, or an Accenture investment if the pursuit is contested. The deal range is the 12-24 month follow-on (program controls across the infrastructure portfolio), scaled for a large client from a reference range of $5-15M. It is not based on client budget data. Win probability of 35% is a planning assumption for a Mega Diamond.
Outreach sequence
- Week 1List the flagship infrastructure and data-center assets and their public build timelines. Map the buying group (Head of Infrastructure / Real Assets, Portfolio company CEOs, COO) and known Accenture relationships.Account lead (David.Cullen-Jones) with an industry SME
- Week 2Confirm the sponsor, pick two reference clients, and line up support from engineering and construction partners on the asset.Sponsor
- Week 3Reach the Head of Infrastructure / Real Assets with a one-page note on infrastructure program delivery, through the account lead.Account lead (David.Cullen-Jones)
- Week 4-5Executive meetings with the Head of Infrastructure / Real Assets and the Portfolio company CEOs: test the hypotheses and offer the entry offer.Sponsor and account lead
- Week 6-7Show program controls and supply-chain risk dashboards from comparable builds.Industry and technical SMEs
- Week 8Scope and price the entry offer with the client's working team; agree success measures.Pursuit lead
- Week 9-10Proposal review with the economic buyer (CFO Robert Lewin) and procurement.Sponsor
- Week 11-12Sign the entry offer and mobilize the 4-week team.Delivery lead
- Week 16Read out results and propose the follow-on: program controls across the infrastructure portfolio.Sponsor and delivery lead
Timeline
Jan 2027May 2027
Prepare and engageFirst executive meeting held with the Head of Infrastructure / Real Assets
ShapeEntry offer scoped with the client's working team
ProposeEntry offer signed
Deliver entry offerResults read out and follow-on proposal submitted
ExpandFollow-on program signed
Success measures
- Assurance review signed
- Program controls in place on the flagship asset
- Schedule and budget variance held within agreed bands (client's measure)
Risks
- Engineering firms and specialist project managers own most of this scope
- Capital programs depend on financing and permitting
- Competition (from the brief): Capstone (KKR's in-house operations team) plus strategy firms and SIs at portfolio level.
01Strategic priorities
- Co-CEOs Joe Bae and Scott Nuttall target $1T AUM and strong fee-related earnings growth by about 2029-30, through infrastructure, Asia, private wealth (K-series) and insurance.
- Partnership with Capital Group to bring public-private funds to retail. Energy transition and AI data-center infrastructure (ECP partnership).
02Financial health and spend signals
- The CFO sees a better 2026 deal outlook and says diversified earnings aren't priced in (Feb 2026). Strong strategic-holdings earnings.
03Leadership changes
- Bae and Nuttall are co-CEOs, with founders Henry Kravis and George Roberts as co-executive chairs. Robert Lewin is CFO.
04Regulatory pressure
- Insurance regulation of Global Atlantic (private credit in insurers). SEC private fund oversight.
05M&A and restructuring
- Full ownership of Global Atlantic (2024). Portfolio deals worldwide, for example Telecom Italia's NetCo, Japan carve-outs and Assura.
06Tech stack and vendor footprint
- Internal data and tech platforms. Portfolio Capstone team for operating value creation, with an AI push across the portfolio.
07Competitor engagements
- Capstone (KKR's in-house operations team) plus strategy firms and SIs at portfolio level.
08Risk disclosures
- Valuation and realization risk, insurance credit risk, and regulation.
Workforce
No workforce data tracked yet. Add it in briefs/_intel/kkr.yaml.
Earnings call themes
No call themes tracked yet.
Regulatory actions
No consent orders, MRAs or fines tracked. See Regulatory pressure above for context.
Recent public signals
Sourcing. Bullets without a source link or a ✓ mark come from model knowledge (public information up to mid-2026) and have not been verified. Check them against the latest filings before using them with a client. Recent public signals were found by web search; most were judged from the headline and source, not a full read.