KKR 3Q Profit Rises on Fee-Related Earnings Growth
By Kelly Cloonan
KKR reported higher quarterly profit as fee-related earnings grew, helped by higher management fees.
The New York investment firm on Monday posted a third-quarter profit of $1.12 billion, or $1.19 a share, compared with $859.9 million, or 90 cents a share, a year earlier.
Adjusted earnings per share were $1.78, compared with analyst estimates of $1.58, according to FactSet.
Fee-related earnings climbed 27% to $1.32 billion, driven by growth in management fees and fee-related performance revenue.
Revenue fell to $4.56 billion from $5.53 billion a year earlier.
The firm's insurance division recorded revenue of $2.8 billion, down from $3.78 billion last year. Revenue from its asset-management and strategic-holdings segment ticked up to $1.76 billion from $1.74 billion a year earlier.
KKR's assets under management rose 11% year over year to $804.39 billion, compared with analysts' estimate of $816.6 billion. The firm said it raised $25.17 billion in organic new capital in the quarter.
Dry powder, which is unspent capital available for future investments, stood at $146 billion, the firm said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
November 09, 2026 07:54 ET (12:54 GMT)
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