Earnings
KKR Posts Record Fee Earnings as Assets Reach $804 Billion
The buyout giant raised $25 billion in the third quarter and says it expects to return more than $40 billion to clients in 2026.
HedgeWeekly News Desk ·
KKR & Co. reported adjusted net income of $1.6 billion, or $1.78 per adjusted share, for the quarter ended September 30. That was 29% higher than a year earlier. GAAP net income attributable to common stockholders came to $1.1 billion.
Fee related earnings, the steadier management-fee stream that investors prize, rose 27% to $1.3 billion, or $1.42 per adjusted share. KKR said fee earnings, total operating earnings and adjusted net income per share were all records for a second straight quarter.
Assets under management reached $804 billion, up 11% from a year ago. The firm raised $25 billion of new capital in the quarter and $116 billion over the past twelve months, and it deployed $20 billion in the quarter. Realised performance income was $602 million and realised investment income $150 million. The board declared a quarterly dividend of $0.195 per share, payable December 3 to holders of record on November 19.
For allocators, the figure to watch is cash returned. KKR said it is returning capital to clients at record levels and expects to hand back more than $40 billion in 2026, over 50% above its previous annual record. Distributions of that scale help limited partners that have waited for exits to recycle money into new commitments, and the release gives a benchmark for how quickly private-markets managers are turning holdings into cash.