KKR Phoenix Aggregator LP

KKR Phoenix Aggregator LP liquidates entire 14.67M BTSG stake (14,669,771 shares) for $857.5M at $58.45 on 2026-06-05

KKR Phoenix Aggregator LP, a 10% owner, completely exited its BrightSpring position by selling 14,669,771 shares (14.67M shares) for $857,492,124.26 ($857.5M) at $58.45, reducing holdings from 14,669,771 shares to 0 shares (-100.0%). The sale occurs with BTSG trading at $57.40 currently, down 7.6% from its 52-week high of $62.11, though up 8.8% over 30 days and 38.4% over 90 days. Examining KKR's prior BTSG trades reveals a mixed pattern: a buy on 2024-09-11 that returned +36.2% (30-day) and +64.1% (90-day), but four subsequent sells at BTSG in which only 1 of 5 prior trades was well-timed at the 90-day mark, with the three most recent sales in 2025–2026 followed by positive 90-day returns (+30.5%, +32.8%, +44.9%, +20.2%), indicating the stock rose after those exits. The complete liquidation, combined with BTSG's strong revenue growth of +14.6% year-over-year and net income of $148,767,000 ($148.8M) on $3,613,721,000 revenue, eliminates KKR's significant strategic ownership stake in a healthcare operator trading at a P/E of 35.88.

KKR Phoenix Aggregator L.P. (10% owner) liquidates entire 19,715,000 share BTSG stake for $807.5M at $40.96 on 2026-03-04

KKR Phoenix Aggregator L.P. exited its complete 19.72M share position in BrightSpring Health Services via a single open-market sale, reducing holdings from 19,715,000 shares to 0 shares (-100.0%). The sale occurred at $40.96 per share with total value of $807,546,115.00, just 2.4% below the current price of $41.96 and at the 52-week high. At the BTSG ticker specifically, this entity's prior three sells (2025-10-22, 2025-06-24, 2025-06-12) generated 90-day returns of +34.6%, +30.5%, and +32.8% respectively—indicating the stock rallied consistently after each prior exit. The timing pattern shows 0 of the prior 4 BTSG trades were well-timed at the 90-day mark, with sells followed by gains rather than declines. The company's fundamentals remain solid: $3.3B quarterly revenue, +14.6% annual growth, and a P/E of 23.98 at $8.1B market cap.

KKR Phoenix Aggregator L.P. exits BTSG entirely, selling 14,745,000 shares for $424,390,590.00 at $28.78 on 2025-10-22.

KKR Phoenix Aggregator L.P., a 10% owner, fully liquidated its entire 14,745,000 share position in BrightSpring Health Services for $424.4M, reducing holdings to 0 shares. This represents a complete exit by a significant stakeholder from a company trading at a P/E of 89.03 with negative full-year net income, despite the stock currently trading at $32.94 (12.8% above the $28.78 sale price) and showing strong recent momentum (+19.4% over 30 days, +59.4% over 90 days). The timing pattern across the insider's prior BTSG trades shows only 1 of 3 trades were well-timed at the 90-day mark—no evidence of consistent forward-looking accuracy at this ticker. A 10% institutional holder liquidating entirely merits careful investor attention, particularly given the company's elevated valuation multiples and lack of profitability.

KKR Phoenix Aggregator sold 2,100,000 BTSG shares at $21.15; 77.10M shares remain. Current price $23.08.

KKR Phoenix Aggregator L.P., a 10% owner, sold 2,100,000 shares (2.10M shares) at $21.15 on 2025-06-24 for $44,418,990.00, reducing holdings by 2.7% to 77,096,337 shares. The sale occurred 12 days after a prior sale on 2025-06-12 at the same insider, suggesting a pattern of recent liquidation. The current price of $23.08 is 9.1% above the transaction price, indicating the insider sold below subsequent market levels. At BTSG specifically, the insider's only prior buy on 2024-09-11 delivered a +64.1% 90-day return and proved well-timed, but the track record at this ticker is limited to one measurable prior trade. Fundamentally, the company trades at a P/E of 69.94 despite reporting negative full-year net income, suggesting elevated valuation risk that may warrant scrutiny of insider conviction at these levels.

KKR Phoenix Aggregator (10% owner) exits BTSG completely: sold 13,288,101 shares for $281.1M on 2025-06-12

KKR Phoenix Aggregator's complete exit of a 13.29M share position (100.0% of holdings) at $21.15 per share represents a significant material transaction. The sale occurred near the 52-week high ($24.43), and the stock has since declined 12.7% over 30 days, suggesting the timing of this exit preceded a period of weakness. At the SAME-TICKER level, KKR's prior 2024-09-11 purchase of BTSG has produced a 90-day positive return (+64.1%), establishing a track record of profitable entry timing at this ticker. However, the company's fundamental profile—$2.9B revenue with a $3.7B market cap, 27.6% annual revenue growth but full-year net income negative and a 64.61 P/E—presents a mixed picture: growth-oriented valuation in a healthcare services business that remains unprofitable. A complete institutional exit by a 10% stakeholder warrants attention regarding confidence in near-term prospects or capital reallocation priorities.

KKR Phoenix Aggregator buys 11.62M BTSG shares at $11.13, raises stake to 92.96M shares

KKR Phoenix Aggregator, already a 10% owner, purchased 11,619,998 shares of BrightSpring Health Services at $11.13 per share on 2024-09-11, increasing holdings by 14.3% from 81,339,986 to 92,959,984 shares. The $129.3M acquisition occurred when the stock traded 1.4% below its 52-week high of $14.04, having already appreciated 32.3% over the prior 90 days. This substantial accumulation by a major institutional stakeholder—nearly 11.62M shares in a single transaction—represents a material commitment to the healthcare services operator that commands a $2.4B market cap and generated $2.7B in quarterly revenue.