Key Takeaways
- • KKR reported record quarterly profit on November 9, 2026, with adjusted net income up 29% to $1.6 billion, or $1.78 per share, beating the LSEG-compiled analyst estimate of $1.59 per share, according to Reuters.
- • Fee-related earnings jumped 27% to $1.3 billion, driven by higher management fees and fee-related performance revenue.
- • KKR raised $25 billion of new capital in the third quarter, pushing assets under management above $800 billion, mainly from credit, liquid strategies and real assets.
- • KKR expects to return more than $40 billion to clients in 2026, more than 50% above its previous annual record.
- • A pending $17 billion sale of USI Insurance Services to Aon is expected to close in the fourth quarter and add roughly $2 billion to adjusted profit.
Summary
KKR reported record quarterly profit on Monday, November 9, 2026, as the New York-based investment firm extended a strong run of asset sales and earned higher fees from managing client capital. Shares rose 3% in premarket trading, according to Reuters. Adjusted net income climbed 29% to $1.6 billion, or $1.78 per share, ahead of the $1.59 average analyst estimate compiled by LSEG.
The firm ramped up investment exits during the year and returned more capital to investors, even as higher interest rates have slowed asset sales across the industry. In the third quarter, KKR closed a series of transactions, including the sale of data center cooling company CoolIT Systems and private aviation infrastructure platform Atlantic Aviation. Co-CEOs Joseph Bae and Scott Nuttall said in a statement that the firm continues to "monetize investments and return capital to our clients at record levels." KKR expects to return more than $40 billion to clients this year.
Assets under management rose above $800 billion after KKR raised $25 billion in new capital during the three months ended September 30. Inflows were driven mainly by its credit and liquid strategies and real assets platform. KKR, which began as a buyout pioneer, has broadened beyond private equity and aims to surpass $1 trillion in assets by 2030. Fee-related earnings rose 27% to $1.3 billion.
Investment performance was mixed. The infrastructure portfolio returned a gross 4%, traditional private equity was flat, and leveraged credit and alternative credit composites returned 1% and 3%, respectively. KKR also repurchased $567 million of shares from June 30 through November 4 and last week increased its share-buyback authorization by $500 million. The pending $17 billion sale of USI Insurance Services to Aon is expected to close in the fourth quarter and add roughly $2 billion to adjusted profit.
The firm ramped up investment exits during the year and returned more capital to investors, even as higher interest rates have slowed asset sales across the industry. In the third quarter, KKR closed a series of transactions, including the sale of data center cooling company CoolIT Systems and private aviation infrastructure platform Atlantic Aviation. Co-CEOs Joseph Bae and Scott Nuttall said in a statement that the firm continues to "monetize investments and return capital to our clients at record levels." KKR expects to return more than $40 billion to clients this year.
Assets under management rose above $800 billion after KKR raised $25 billion in new capital during the three months ended September 30. Inflows were driven mainly by its credit and liquid strategies and real assets platform. KKR, which began as a buyout pioneer, has broadened beyond private equity and aims to surpass $1 trillion in assets by 2030. Fee-related earnings rose 27% to $1.3 billion.
Investment performance was mixed. The infrastructure portfolio returned a gross 4%, traditional private equity was flat, and leveraged credit and alternative credit composites returned 1% and 3%, respectively. KKR also repurchased $567 million of shares from June 30 through November 4 and last week increased its share-buyback authorization by $500 million. The pending $17 billion sale of USI Insurance Services to Aon is expected to close in the fourth quarter and add roughly $2 billion to adjusted profit.
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