KKR Announces Intra-Quarter Monetization Activity Update for the Third Quarter
Rhea-AI Summary
KKR announces monetization activity update, earning over $475 million in gross realized carried interest and total realized investment income. Two-thirds of the activity is from gross realized carried interest and one-third from realized investment income. The activity is driven by strategic and secondary sale transactions, as well as dividend and interest income. This estimate does not include other sources of income or expenses and may not predict full quarter or annual results.
Positive
KKR earned over $475 million in monetization activity, showing strong performance in gross realized carried interest and realized investment income.
Activity driven by strategic and secondary sale transactions, as well as dividend and interest income.
Positive outlook for KKR's financial performance.
09/25/2023 - 06:50 AM
NEW YORK --(BUSINESS WIRE)--
KKR today announced a monetization activity update for the period from July 1, 2023 to September 25, 2023. Based on information available to us as of today, with respect to the period through September 25, 2023, KKR has earned gross realized carried interest and total realized investment income of greater than $475 million . Our monetization activity quarter-to-date is made up of approximately two-thirds gross realized carried interest and approximately one-third realized investment income. This activity is driven primarily by strategic and secondary sale transactions that have closed quarter-to-date, as well as dividend and interest income from KKR’s balance sheet portfolio.
The estimate disclosed above is not intended to predict or represent total realized performance income, total realized investment income or total revenues for the full quarter ending September 30, 2023, because it does not include the results or impact of any other sources of income, including fee income, or expenses, and we may realize further gains or losses relating to total realized performance income and total realized investment income after the date of this press release. This estimate is also not necessarily indicative of the results that may be expected for any other period, including the entire year ending December 31, 2023.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com . For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com .
Forward-Looking Statements
This press release may contain forward-looking statements, including estimated operating results from certain monetization activities. Words such as “expect,” estimate,” “will,” “may” and “believe” or similar expressions may identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those included in these forward-looking statements, and investors should not place undue reliance on such statements. These forward-looking statements speak only as of the date of this press release, and we do not undertake any obligation to update or revise any of the forward-looking statements to reflect future events or circumstances, except as required by law.
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Investor Relations:
Craig Larson
1-877-610-4910 (U.S. ) / 212-230-9410
investor-relations@kkr.com
Media:
Kristi Huller, Miles Radcliffe-Trenner or Julia Kosygina
1-212-750-8300
media@kkr.com
Source: KKR
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Finance, Investment Managers, Finance and Insurance, Securities and Commodity Exchanges
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About KKR
founded in 1976 and led by henry kravis and george roberts, kkr is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. kkr aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. kkr invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. references to kkr's investments may include the activities of its sponsored funds. for additional information about kkr & co. l.p. (nyse:kkr), please visit kkr's website at www.kkr.com. twitter: @kkr_co