(Reuters) -Global investment firm KKR and Portuguese private equity firm Quadrantis Capital will acquire a minority stake in Fosun International ( FOSUF ) majority-owned Peak Reinsurance Company, the parties said on Tuesday.

KKR will acquire approximately 11.3% of Peak Reinsurance from Prudential Financial ( PRU ), while Quadrantis will take a 1.8% stake. Fosun International ( FOSUF ), a Hong Kong-listed Chinese conglomerate, will retain its majority ownership of 86.71% in the reinsurance company.

The deal comes on the heels of KKR's acquisition of Japanese insurance distributor Hoken Minaoshi Hompo Group last month, as the firm continues to strengthen its footprint in Asia's insurance sector.

"As Asia emerges as a global growth engine for insurance and reinsurance, Peak Re is well-positioned to meet the needs of global clients with its established regional platform, disciplined underwriting approach, and strong governance," said Bing Gu, managing director at KKR.

The investments are expected to close in the fourth quarter of 2025.