KKR Announces Intra-Quarter Monetization Activity for the Third Quarter

Rhea-AI Summary

KKR reports a monetization update for July 1 to September 23, 2021, revealing over $800 million in gross realized carried interest and investment income. About 50% of this figure is from each category, primarily due to strategic sales and dividends from its portfolio. KKR emphasizes that this estimate does not project total revenues for Q3 2021 or the full year, as it excludes other income sources. The firm continues to focus on generating attractive investment returns through its disciplined investment strategies.

Positive

• Gross realized carried interest and investment income exceeded $800 million.
• Estimate driven by successful strategic and secondary sale transactions.

Negative

• The estimate does not represent total revenues for Q3 2021 or the full year, lacking other income sources.

NEW YORK--(BUSINESS WIRE)-- KKR today announced a monetization activity update for the period from July 1, 2021 through September 23, 2021. Based on information available to us as of today, with respect to the period through September 23, 2021, KKR has earned gross realized carried interest and realized investment income in excess of $800 million, of which approximately 50% is gross realized carried interest and approximately 50% 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 September 30, 2021, 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, 2021.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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/20210923005920/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 from July 1 to September 23, 2021?

KKR earned over $800 million in gross realized carried interest and investment income during this period.

What percentage of KKR's earnings was from carried interest?

Approximately 50% of KKR's earnings were from gross realized carried interest.

What factors drove KKR's monetization update?

The update was primarily driven by strategic and secondary sale transactions, as well as dividend and interest income.

Is KKR's estimate for Q3 2021 total revenues?

No, the estimate does not predict total revenues for Q3 2021 as it excludes other income sources.

How does KKR plan to generate investment returns?

KKR aims to generate returns through a patient and disciplined investment approach, enhancing portfolio companies.