KKR & Co. Inc.'s $185.3 Billion Assets Under Management

By Bobby Samwell • Sunday, August 11 07:59 • Permanent Link

In its latest 10-Q filing, KKR & Co. Inc. reported its unaudited condensed consolidated financial statements, showcasing its performance and financial condition. The company is a global investment firm offering alternative asset management, capital markets, and insurance solutions.

KKR's asset management business encompasses five main lines: Private Equity, Real Assets, Credit and Liquid Strategies, Capital Markets, and Principal Activities. As of June 30, 2024, KKR had a total of $185.3 billion in assets under management (AUM) in its Private Equity business line. This included $131.0 billion in traditional private equity, $36.1 billion in core private equity, and $18.2 billion in growth equity, with $4.6 billion attributed to impact investments.

Within the Real Assets business line, KKR managed a total AUM of $151.5 billion, comprising $75.2 billion in real estate, $72.7 billion in infrastructure, and $3.6 billion in energy.

The filing also provided detailed information on the performance of specific investment funds and vehicles. For instance, the legacy funds dating back to as early as 1976 showed strong internal rates of return (IRRs) ranging from 12.1% to 48.1%, with net IRRs between 8.9% and 39.2%. These funds demonstrated gross multiples of invested capital between 2.4 and 17.1, illustrating the benefits of KKR's investment approach.

Furthermore, the filing detailed the specific investment vehicles within each business line, providing insights into the commitments, invested amounts, realized and unrealized values, and gross IRRs for each fund or vehicle.

KKR also discussed its insurance business operated by Global Atlantic, which it acquired a majority controlling interest in February 2021 and subsequently acquired the remaining equity interests in January 2024. Global Atlantic serves over three million policyholders and primarily generates income through investment spread.

The filing provided a comprehensive overview of KKR's operations, investment strategies, and financial performance, offering investors and stakeholders valuable insights into the firm's activities and results. Following these announcements, the company's shares moved 1.0%, and are now trading at a price of $113.87. If you want to know more, read the company's complete 10-Q report here.

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