Question-and-Answer SessionRight. So let's start on the macro front. How are you thinking about rates, inflation, the broader economic outlook and what are you seeing lately in realizations and transaction activity? Will activity continue to accelerate in 2026?Robert LewinChief Financial Officer Yes. It's probably as nuanced a moment we've had the broader macro space in a long, long time. If you think about what's going on, from a macro perspective, you layer on to that geopolitics, both domestically in the ...

KKR 2026 Conference Call Summary Company Overview - KKR (NYSE: KKR) is one of the world's largest asset managers, overseeing approximately $744 billion in assets under management (AUM) as of year-end 2025. The company has a diversified platform that includes private equity, credit, infrastructure, real assets, and insurance [3][5]. Macro Economic Outlook - The macroeconomic environment is described as nuanced, influenced by factors such as rates, inflation, geopolitics, fiscal deficits, and public policy. KKR anticipates increased transaction activity in 2026, with a better deal flow compared to 2025 [5][6]. - The company is optimistic about early signs of market recovery despite recent volatility [6]. Financial Performance and Market Position - KKR's management fees increased by 35%, fee-related earnings rose over 50%, and adjusted net income grew in the mid-40s percentage range over the past two years. Capital raising in the last 12 months was up 90% compared to the previous year [7][8]. - The market is perceived to undervalue KKR's diversified business model, which includes significant contributions from private equity, real assets, and credit strategies [9][10]. Strategic Acquisition - KKR announced the acquisition of Arctos, which is expected to enhance its position in the sports asset class and the secondary market. The acquisition aligns with KKR's M&A strategy focused on large addressable markets [12][13]. - The deal is anticipated to create a business worth over $100 billion, leveraging KKR's global reach and capital access [13]. Fundraising Environment - KKR raised approximately $130 billion in 2025, up 90% from two years prior. The company aims to exceed its target of raising $300 billion between 2024 and 2026 [18][19]. - The institutional market is showing signs of recovery, with significant capital raised in both private equity and infrastructure products [19][20]. Adjusted Net Income Target - KKR has set a target of over $7 per share of Adjusted Net Income (ANI) for 2026, supported by growth in management fees, capital markets business, and operating leverage [26][27]. - The company has $18.6 billion in embedded gains and expects to generate over $900 million in monetization-related revenue [30][31]. Insurance Business Strategy - KKR's insurance business, Global Atlantic, is expected to generate around $1 billion in operating income in 2026. The strategy involves elongating liabilities and scaling third-party capital to enhance returns [34][37]. - The company is focused on migrating its portfolio into alternative investments, which is anticipated to yield cash income starting in 2027 and 2028 [35][36]. Wealth Management Platform - KKR emphasizes client experience as the primary KPI, with a focus on delivering exceptional investment performance. The company has introduced a two-year soft lock on its private equity vehicles to enhance durability [40][45]. - The wealth management channel is seen as an area for robust growth, with significant potential for capital raising as individual investors increase their allocation to alternatives [41][42]. Credit Market Insights - KKR manages approximately $135 billion in private credit, with a focus on asset-based finance and direct lending. The company remains optimistic about credit fundamentals despite market noise [55][56]. - The asset-based finance market is expected to grow significantly, with KKR positioned to capitalize on opportunities in this space [58][59]. Infrastructure and Real Estate Growth - KKR's infrastructure business has grown to about $100 billion in AUM, driven by global demand for infrastructure spending. The company is well-positioned to capture market share as client allocations to infrastructure increase [62][63]. - Real estate values are believed to have bottomed out, but capital raising remains challenging. KKR is preparing to take advantage of market recovery when it occurs [66][67]. Capital Markets Business - KKR's capital markets business is expected to grow, with opportunities arising from global expansion and partnerships, particularly with its insurance business. The company believes it has not yet reached its full potential in this area [68][69]. Conclusion - KKR is navigating a complex macroeconomic environment while positioning itself for growth through strategic acquisitions, diversified business models, and a focus on client experience. The company is optimistic about achieving its financial targets and capitalizing on market opportunities in the coming years [72][73].

人工智能技术带来的颠覆性浪潮正从软件行业向金融市场深处蔓延，私人信用债市场面临前所未有的不确定性。随着AI技术开始威胁传统软件公 司的商业模式，作为该行业主要融资来源的私人信用债投资组合正遭受严重的风险重估，引发市场对高达3万亿美元规模的私人信用债行业资产质 量的担忧。 上周，人工智能公司Anthropic发布的新型AI工具引发了软件数据供应商股票的抛售潮，这一震荡迅速传导至资产管理领域。市场担忧AI技术将削 弱借款企业的现金流并推高违约风险，拥有庞大私人信用债业务的资产管理公司股价遭遇重挫。Ares Management股价上周大跌超过12%，KKR下 跌近10%，Blue Owl Capital跌幅超过8%，TPG下跌约7%。相比之下，同期标普500指数仅微跌约0.1%。 KKR & Co Inc KKR NYSE: KKR ： 103.20 USD -11.30 (-9.87%) ↓ 过去 5 天 这一市场动荡凸显了投资者对私人信用债市场敞口的日益不安。PitchBook的分析指出，软件行业在过去数年中是私人信用债机构青睐的投资标 的，许多大规模的单层贷款都流向了此类公司。据华尔街见闻此前文章，软件业占 ...

Key Takeaways KKR agreed to acquire Arctos in a $1.4B stock-and-cash deal, pending regulatory and sports league approvals.KKR will pay $300M cash and $1.1B equity, plus earnout equity tied to share price and business performance.Arctos adds $15B AUM and sports ownership expertise, boosting KKR's long-term growth and solutions strategy.KKR & Co. Inc. (KKR) announced a strategic agreement to acquire Arctos Partners for $1.4 billion. This will expand the company’s reach to sports franchises and support long-te ...

KKR & Co. Inc. (NYSE:KKR) stock rose Friday following the announcement of a new strategic partnership with HMC Capital.The company will invest up to $603 million into HMC’s Energy Transition Platform, which is aimed at expanding renewable energy projects in Australia.KKR’s investment will support the Platform’s existing 652MW operational assets and its 5.7GW battery energy storage and wind development pipeline.This partnership is expected to help scale the Platform and identify growth opportunities, with HM ...

The New York-based KKR & Co. Inc. (KKR) is a global investment firm that offers alternative asset management, capital markets expertise, and insurance solutions. Holding a market cap of roughly $93.4 billion, it allocates capital across real assets, credit, and liquid strategies while serving institutional and individual clients with retirement, life, reinsurance, and bespoke capital solutions. Market performance, however, has tested investor patience. Over the past 52 weeks, KKR & Co.’s shares fell near ...

SYDNEY--(BUSINESS WIRE)--KKR Forms A$600m Energy Transition Strategic Partnership with HMC. ...

Shares of KKR & Co. Inc. ( KKR ) have been a poor performer over the past year, losing over a third of their value and approaching a 52-week low. While the company continues to report impressiveOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!Analyst’s Disclosure: I/we have no stock, o ...

In discussing Q4 earnings, the private-markets firm said it isn't changing its return forecasts despite market turbulence over the software sector. ...

Key Takeaways KKR reported Q4 adjusted EPS of $1.12, missing estimates, shares fell 2.9% in pre-market trading.KKR saw AUM rise 16.6% year over year to $743.9B, lifting management and transaction fees.KKR's segment revenues rose 13.6% Y/Y, but expenses climbed 10.3%, acting as a headwind.Shares of KKR & Co. Inc. (KKR) fell nearly 2.9% in the pre trading market session as it reported fourth-quarter 2025 net income per share of $1.12, missing the Zacks Consensus Estimate of $1.16. The bottom line declined fro ...