M&A Deal Summary

KKR Acquires Hoken Minaoshi Honpo Group

On September 16, 2025, private equity firm KKR acquired insurance company Hoken Minaoshi Honpo Group from Advantage Partners

Acquisition Highlights
  • This is KKR’s 14th transaction in the Insurance sector.
  • This is KKR’s 13th transaction in Japan.

M&A Deal Summary

Date 2025-09-16
Target Hoken Minaoshi Honpo Group
Sector Insurance
Buyer(s) KKR
Sellers(s) Advantage Partners
Deal Type Secondary Buyout

Target

Hoken Minaoshi Honpo Group

Tokyo, Japan
Hoken Minaoshi Hompo Group is an insurance distributor in Japan, with an omnichannel presence including in-store, call centers, and online. The Group aims to be a Life Support Platform Provider and is deeply committed to delivering peace of mind and enrichment to people's lives in the era of 100-year lifespans. It offers various services, including stores with integrated mortgage consultation and nursing care advisory services. Hoken Minaoshi Honpo Group is based in Tokyo, Japan.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 498 of 499
Sector: Insurance M&A 14 of 15
Type: Secondary Buyout M&A Deals 113 of 113
Country: Japan M&A 13 of 13
Year: 2025 M&A 12 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-04 Samhwa

Gyeonggi-do, South Korea

Samhwa is a cosmetic packaging supplier, providing comprehensive packaging solutions for the high-end cosmetics industry. Samhwa was founded in 1977 and is based in Gyeonggi-do, South Korea.

Buy $528M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-18 ISC

Carlsbad, California, United States

ISC is a multi-line insurance distributor that builds end-to-end insurance products utilizing advanced artificial intelligence (AI) engineering and data analytics. ISC has built an end-to-end insurance platform by connecting a broad network of insurance markets and distribution channels with proprietary data analytics capabilities. ISC was founded in 2017 and is based in Carlsbad, California.

Sell -

Seller(S) 1

SELLER

Advantage Partners

Singapore, Singapore

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 4.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Partners LLP is a Japanese private equity firm focused on investing public and private companies. Advantage targets businesses operating in the fields of distribution/retail, consumer products, manufacturing, telecommunications, IT/software and financial services. The Firm will consider a variety of transactions including corporate divestitures, acquisitions, buyouts, public to private, recapitalizations, and growth capital financings. Advantage Partners was formed in 1992 and is based in Tokyo.


DEAL STATS #
Overall 36 of 36
Sector: Insurance M&A 1 of 1
Type: Secondary Buyout M&A Deals 7 of 7
Country: Japan M&A 33 of 33
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-13 Toho Zinc

Tokyo, Japan

Toho Zinc operates in the smelting and refining, mineral resources, electronic components, advanced materials, and environment and recycling businesses. Toho Zinc was founded in 1937 and is based in Tokyo, Japan.

Buy -