Steadfast Group acquired by KKR & Dragoneer Investment Group

In August 2026, a private equity consortium comprising KKR, Dragoneer Investment Group, and global wholesale broker Amwins Group entered into a definitive Scheme Implementation Deed to execute the public-to-private acquisition of Steadfast Group (ASX: SDF). Under the terms of the court-approved scheme of arrangement, Steadfast shareholders will receive A$6.00 per share in cash, representing an equity value of approximately A$7.7 billion and a 52% premium over the unaffected closing price of A$3.95 on 9 June 2026. The binding agreement concluded a competitive bidding progression that saw initial unsolicited proposals of A$5.50 and A$5.83 per share from Amwins and Dragoneer revised upward following the introduction of KKR as joint equity co-lead.The transaction architecture executes an immediate structural separation of Steadfast’s core operating engines upon closing: Amwins acquires 100% of the specialized underwriting agency division to integrate delegated authority capacity into its global specialty network, while KKR and Dragoneer take joint control of the corporate insurance broking network and proprietary technology infrastructure. The Steadfast board of directors, led by Managing Director and Chief Executive Officer Robert Kelly, unanimously recommended that shareholders vote in favor of the scheme, subject to an independent expert opinion confirming the proposal is in the best interests of shareholders and the absence of a superior proposal. Closing remains subject to customary closing conditions, including Australian Securities and Investments Commission (ASIC) and foreign investment regulatory approvals, court sanction, and shareholder clearance at an extraordinary general meeting, with final completion scheduled for December 2026.