KKR joins consortium to acquire ASX-listed Steadfast

Global investment firm KKR has joined a consortium, including Amwins Group and Dragoneer Investment Group, as a co-lead investment partner to acquire ASX-listed general insurance broker Steadfast.

Steadfast received KKR's joinder to the deed on July 8.

Amwins and Dragoneer said KKR's participation will not impact the transaction timeline to which the parties are currently working on. They also confirmed KKR's participation is not a condition to the firms to enter into a binding deed with Steadfast.

Steadfast shares were in a trading halt prior to the announcement.

Steadfast entered into an exclusivity deed with the consortium on June 10 to undertake due diligence on the firm. The consortium has offered to pay $6 per share in cash, less any dividends or distribution declared or paid by Steadfast after June 5.

The Steadfast board, however, noted there is still no guarantee that a binding agreement will be reached with the consortium and there is no certainty that the proposal will result in a transaction.

It told shareholders to not take any action in relation the proposal at this time.

Last year, Steadfast chief executive Robert Kelly stepped aside for two weeks on full pay to enable an external investigation after workplace complaint made against him.

The share price for the firm has fallen even since falling from $6.20 from October 2025 to $3.95 prior to takeover bid was announced on July 10. It has since risen in value currently sitting at $5.27.