KKR Announces Intra-Quarter Monetization Activity for the First Quarter

Rhea-AI Summary

KKR reported a significant monetization activity update for the period from January 1, 2022 to March 24, 2022, earning over $850 million in gross realized carried interest and investment income. Approximately two-thirds of this total came from carried interest, with the remainder from investment income. This positive financial performance is attributed to strategic and secondary sale transactions as well as dividend and interest income. However, KKR cautioned that these figures do not predict full quarter revenues or represent total income.

Positive

• Gross realized carried interest and realized investment income exceeded $850 million.
• Approximately two-thirds of the earnings were from strategic sale transactions.

Negative

• The estimate does not predict total revenues for the full quarter ending March 31, 2022.
• The estimate does not include fee income, losses, or expenses.

NEW YORK--(BUSINESS WIRE)-- KKR today announced a monetization activity update for the period from January 1, 2022 through March 24, 2022. Based on information available to us as of today, with respect to the period through March 24, 2022, KKR has earned gross realized carried interest and realized investment income in excess of $850 million, of which approximately two-thirds is gross realized carried interest and approximately one-third is realized investment income. This is driven primarily by strategic and secondary sale transactions that have closed quarter to-date, as well as dividend and interest income from KKR’s balance sheet portfolio.

The estimate disclosed above is not intended to predict or represent the total revenues for the full quarter ending March 31, 2022, because it does not include the results or impact of any other sources of income, including fee income, losses or expenses. This estimate is also not necessarily indicative of the results that may be expected for any other period, including the entire year ending December 31, 2022.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Forward-Looking Statements

This press release may contain forward-looking statements, including estimated operating results from certain monetization activities. Words such as “expect,” estimate,” “will,” “may” and “believe” or similar expressions may identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those included in these forward-looking statements, and investors should not place undue reliance on such statements. These forward-looking statements speak only as of the date of this press release, and we do not undertake any obligation to update or revise any of the forward-looking statements to reflect future events or circumstances, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220324005358/en/

Investor Relations:

Craig Larson

+1 (877) 610-4910 (U.S.) / +1 (212) 230-9410

investor-relations@kkr.com

Media:

Kristi Huller, Cara Major or Miles Radcliffe-Trenner

+ 1 (212) 750-8300

media@kkr.com

Source: KKR

FAQ

What were KKR's earnings between January 1 and March 24, 2022?

KKR earned over $850 million in gross realized carried interest and realized investment income.

What is the breakdown of KKR's $850 million earnings?

Approximately two-thirds were from gross realized carried interest and one-third from realized investment income.

Does KKR's earnings estimate predict total revenues for the quarter?

No, the estimate is not intended to predict total revenues and does not include all sources of income.

What contributed to KKR's monetization activity in 2022?

The positive performance was driven by strategic and secondary sale transactions, along with dividend and interest income.

When does KKR's full quarter end?

KKR's full quarter ends on March 31, 2022.