KKR's announced sale of USI to Aon late last month highlights the fact that the company continues to outperform our expectations, which have arguably been suppressed by concerns about the private credit market.
KKR, with $638.4 billion in fee-earning AUM at the end of June 2026, is a go-to firm for institutional and high-net-worth investors looking for exposure to alternative assets.
Bears
Private equity and real estate are both highly cyclical and heavily reliant on elevated market returns and regular exits to generate incentive income.
KKR is one of the world's largest alternative-asset managers, with $796.5 billion in total managed assets, including $638.4 billion in fee-earning assets under management, at the end of June 2026. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance).