KKR Announces Intra-Quarter Monetization Activity for the Third Quarter

Rhea-AI Summary

KKR provided a monetization activity update for the period from July 1, 2022 to September 22, 2022. The firm reported over $725 million in gross realized carried interest and realized investment income, with approximately two-thirds stemming from carried interest and one-third from investment income. This performance is driven by strategic and secondary sales, along with dividends and interest from their portfolio. However, these figures do not predict revenues for the full quarter ending September 30, 2022 and may not represent future performance.

Positive

• Gross realized carried interest and realized investment income exceeded $725 million for the reported period.
• Approximately two-thirds of the income was derived from gross realized carried interest, indicating strong investment performance.

Negative

• The reported estimate does not include full-quarter revenue, which may lead to uncertainty regarding overall performance.
• The figures are not necessarily indicative of expected results for future periods, including the year ending December 31, 2022.

NEW YORK--(BUSINESS WIRE)-- KKR today announced a monetization activity update for the period from July 1, 2022 through September 22, 2022. Based on information available to us as of today, with respect to the period through September 22, 2022, KKR has earned gross realized carried interest and realized investment income in excess of $725 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 September 30, 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/20220922005633/en/

Investor Relations:

Craig Larson

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

investor-relations@kkr.com

Media:

Kristi Huller, Miles Radcliffe-Trenner or Julia Kosygina

+ 1 (212) 750-8300

media@kkr.com

Source: KKR

FAQ

What is KKR's reported gross realized carried interest for July to September 2022?

KKR reported over $725 million in gross realized carried interest and realized investment income for the period.

How much of KKR's income comes from carried interest in 2022?

Approximately two-thirds of the $725 million reported is from gross realized carried interest.

Is KKR's reported income predictive of future revenues?

No, the reported figures do not predict or represent total revenues for the full quarter or future periods.

What led to KKR's income increase in 2022?

The increase was primarily driven by strategic and secondary sale transactions and dividends and interest from KKR's portfolio.