KKR Announces Intra-Quarter Monetization Activity Update for the First Quarter

Rhea-AI Summary

KKR reported a significant update on monetization activities for the period from January 1, 2023 to March 23, 2023. The firm has earned over $325 million in gross realized carried interest and total realized investment income, with a balanced contribution of approximately 50% from each source. This positive performance stems from strategic transactions and income from its balance sheet portfolio. However, KKR cautioned that this figure does not forecast total revenues for the quarter ending March 31, 2023, as it excludes other income sources and expenses.

Positive

• KKR earned over $325 million in gross realized carried interest and investment income.
• Monetization activity consists of approximately 50% carried interest and 50% investment income.
• Positive performance driven by strategic transactions and income from the portfolio.

Negative

• The estimate does not predict total revenues for the full quarter ending March 31, 2023.
• Excludes impact from other income sources and expenses.

NEW YORK--(BUSINESS WIRE)-- KKR today announced a monetization activity update for the period from January 1, 2023 to March 23, 2023. Based on information available to us as of today, with respect to the period through March 23, 2023, KKR has earned gross realized carried interest and total realized investment income in excess of $325 million. Our monetization activity quarter-to-date is made up of approximately 50% gross realized carried interest and approximately 50% realized investment income. This activity is driven primarily by strategic 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 total realized performance income, total realized investment income or total revenues for the full quarter ending March 31, 2023, because it does not include the results or impact of any other sources of income, including fee income, or expenses, and we may realize further gains or losses relating to total realized performance income and total realized investment income after the date of this press release. 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, 2023.

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/20230323005505/en/

Investor Relations:

Craig Larson

1-877-610-4910 (U.S.) / 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 the recent monetization update for KKR?

KKR reported over $325 million in gross realized carried interest and investment income from January 1 to March 23, 2023.

What factors contributed to KKR's recent financial performance?

KKR's performance was driven by strategic transactions and income from its balance sheet portfolio.

Does KKR's recent estimate indicate future revenues?

No, the estimate does not predict total revenues for the quarter ending March 31, 2023, as it excludes other income sources and expenses.

What percentage of KKR's monetization is from carried interest?

Approximately 50% of KKR's monetization activity comes from gross realized carried interest.