KKR's AUM passes $723bn on record fundraising and historic investment…

Team S · 2025-12-05T09:43:44.000Z

KKR & Co. delivered another standout quarter, underscoring its strength across asset management and insurance. The firm raised $43bn in new capital, set a record for fee-related earnings at $1bn, and continued to scale its platform with double-digit growth across strategies. Adjusted net income reached $1.3bn in the third quarter of 2025, up 8% year-on-year, while total operating earnings climbed 12% to $1.4bn. Assets under management (AUM) rose 16% YoY to $723bn, with fee-paying AUM at $585bn. KKR’s dry powder stood at $126bn, providing ample capacity to execute on new opportunities. Deployment remained brisk. The firm invested $26bn during the quarter - its most active period on record - and $85bn over the past twelve months, reflecting strong conviction across private equity, credit, infrastructure, and asset-based strategies. Insurance continues to be a growth engine. Global Atlantic contributed $305m in operating earnings and expanded its AUM to $212bn. The segment was further bolstered by a $2bn strategic investment from Japan Post Insurance, enhancing KKR’s footprint in retirement and reinsurance markets. KKR also advanced its sector reach with recent acquisitions. The purchase of HealthCare Royalty Partners added roughly $3bn to AUM and broadened exposure to biopharma royalty streams, complementing existing healthcare investments and income-oriented strategies. Across segments, momentum remained broad-based: private equity AUM climbed 17% YoY to $222bn, supported by fundraising for North America Fund XIV and K-Series vehicles; real assets rose 14% to $186bn; and credit and liquid strategies expanded 16% to $315bn, driven by CLO issuance and inflows to asset-based finance. The Strategic Holdings segment, focused on long-duration equity investments, delivered $58m in operating earnings and is projected to exceed $1bn annually by 2030, signaling a growing contribution from permanent capital-style positions. KKR declared a quarterly dividend of $0.185 per share, maintaining consistent returns to shareholders as the firm scales fee-based revenues and diversifies its earnings mix.

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KKR's AUM passes $723bn on record fundraising and historic investment… | Newnex