Kirkland & Ellis advised KKR on its definitive agreement to invest in Charter Next Generation (“CNG”), a leading producer of specialty films used in flexible packaging, industrial, healthcare, and consumer applications. KKR will be joining Leonard Green & Partners, L.P. as an equal co-owner of the business, and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will also be investing in the transaction to become a minority owner. KKR is making the investment in CNG through its Americas XII Fund. Further terms were not disclosed.
The Kirkland team was led by corporate partners Jen Perkins, Andrew Arons and Francisco Morales Barron and associates Colin Zelicof, Aidan Murphy and Giorgia Nagalli, and debt finance partner Eric Wedel and associates Caroline Epstein and Peter Bang.