KKR to Buy Stake in Datavant

KKR agreed to acquire a significant minority stake in healthcare data platform Datavant alongside Neuberger on 15 September 2026. Funds and accounts managed by KKR's Strategic Investments Group are leading the investment. New Mountain Capital, which has backed Datavant since 2014 and manages about $60 billion in assets, will retain its controlling position.

The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions. J.P. Morgan Securities LLC acted as sole placement agent and lead financial advisor to Datavant, while Jefferies LLC and Wells Fargo also advised the company. Ropes & Gray served as legal counsel to Datavant and New Mountain, and Latham & Watkins LLP advised KKR and Neuberger.

Datavant operates a health data ecosystem connecting more than 80,000 providers, 75 of the top 100 health systems, and over 350 ecosystem partners. The platform facilitates the transfer of more than 60 million records across organizations and touches 90% of the U.S. population as well as 80% of Medicare Advantage participants.

Neuberger participated through Neuberger Capital Solutions, which manages approximately $12 billion in assets, and Neuberger Private Markets, which held over $165 billion in commitments as of 31 March 2026. KKR aims to provide partnership capital to support platform digitization and long-term expansion.