Jim Cramer Discussed 18 Companies That Hit $100 Billion in Market Cap in 2024

10. KKR & Co. Inc. (NYSE:KKR)

Number of Hedge Fund Holders: 66

Cramer, talking about how KKR & Co. Inc. (NYSE:KKR) joined the $100 billion club as of last Friday’s close, said:

“… Just like fellow corporate raider, well we don’t really wanna call them that but KKR, up 91%. That’s outstanding performance from two firms that truly know how to make money. It’s odd to think that they could have such good years without ringing the register by taking their portfolio companies public. Maybe holding onto positions isn’t such a bad move… These two private equity firms are part of a trend that allows startups to stay private longer internally because the process of coming public is brutal with a lot of pressure from regulators and then from money managers. Well, I mean, this is a great way to go. Formerly, these companies had to tap the public market for capital. Now they tap outfits like KKR and Apollo.”

KKR & Co (NYSE:KKR) is a private equity and real estate investment firm specializing in a broad range of investments, including acquisitions, buyouts, credit special situations, and growth equity across various industries. Recently, it has been in a competitive bid to take Fuji Soft, a Japanese IT services company, private. The firm’s approach has been marked by aggressive tactics, outbidding Bain Capital in a bidding war for the $4 billion software maker.

According to Reuters, KKR & Co (NYSE:KKR) acquired about 34% of Fuji Soft in the first stage of its tender offer and raised its bid to 9,451 yen per share, a move that surpassed Bain’s offer. Fuji Soft’s board subsequently expressed support for KKR, stating that Bain’s offer had become unviable. Analysts suggest that without management backing, Bain is unlikely to make a higher bid.