Funding agency KKR has joined the consortium of Amwins Group and Dragoneer Funding Group in a non-binding, indicative proposal to accumulate Australian insurance coverage dealer Steadfast Group.
Steadfast mentioned it entered an exclusivity and course of deed with Amwins and Dragoneer on 10 June 2026.
Below that association, the consortium is pursuing a attainable scheme of association to accumulate all of Steadfast’s excellent share capital for A$6 (US$4.17) per share in money, much less any dividends or distributions declared or paid after 5 June 2026.
Below the proposed construction, Dragoneer would assume Steadfast’s retail brokerage operations, whereas Amwins would purchase the corporate’s underwriting company arm.
The proposal implies an enterprise worth of roughly A$7.7bn for Steadfast.
In line with Steadfast, Amwins and Dragoneer have suggested the corporate that KKR, appearing on behalf of funds, automobiles and entities it manages or advises, has joined the consortium as a co-lead funding accomplice alongside Dragoneer in Steadfast’s retail brokerage enterprise.
Steadfast confirmed that it obtained KKR’s joinder to the Steadfast Confidentiality Deed on 8 July 2026.
The corporate mentioned Amwins and Dragoneer have confirmed that KKR’s participation is not going to alter the transaction timetable and isn’t a situation to Amwins and Dragoneer getting into right into a binding Scheme Implementation Deed with Steadfast.
The Steadfast Board mentioned there is no such thing as a assure {that a} binding settlement will probably be reached with the consortium and no certainty that the proposal will result in a transaction.
Steadfast mentioned shareholders don’t have to take any motion in relation to the proposal at this stage and that it’ll present additional market updates as applicable.
The corporate operates insurance coverage dealer and company networks in Australia, New Zealand, Singapore and the US.
“KKR joins consortium pursuing Steadfast acquisition proposal” was initially created and revealed by Life Insurance coverage Worldwide, a GlobalData owned model.
