KKR North America Fund XIII SCSp, managed by KKR & Co. Inc. (NYSE:KKR) agreed to acquire 50% stake in Cotiviti, Inc. from Veritas Capital Fund Management, L.L.C, managed by Veritas Capital Fund V, L.P. on February 14, 2024. Paul Hastings LLP is advising the lead arrangers on the $5.6 billion financing for the investment by KKR. Veritas will further invest in Cotiviti with it's new fund Veritas Fund VIII leading to which, both KKR and Veritas will co-own the company. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions, including regulatory approvals. As of February 13, 2024, The European Commission approved the transaction. Colin Zelicof, Daniel A. Guerin, Jennifer S. Perkins, Adam Shapiro, Jason Kanner, Conor O'Muiri, Adam Kool, Michael Beinus, Nicole Washington, Charles B. Tanenbaum, Rohit A. Nafday, John Kleinjan of Kirkland & Ellis LLP acted as legal advisor and Jason Caron, Joseph Hudzik, and Bay Area of Latham & Watkins LLP acted as legal advisor to KKR & Co. Inc. J.P. Morgan Securities LLC acted as financial advisor to Veritas Capital Fund Management, L.L.C. Evercore Inc. (NYSE:EVR) and Barclays Capital Inc. acted as financial advisor to KKR & Co.

KKR North America Fund XIII SCSp, managed by KKR & Co. Inc. (NYSE:KKR) completed the acquisition of 50% stake in Cotiviti, Inc. from Veritas Capital Fund Management, L.L.C, managed by Veritas Capital Fund V, L.P. on May 1, 2024.