KKR Q1 2024 Earnings Report
Key Takeaways
KKR's First Quarter 2024 results showed solid growth, with Fee Related Earnings up 22% year-over-year, Total Operating Earnings up 28% year-over-year and Adjusted Net Income up 20% year-over-year. The company raised $31 billion of new capital and closed on the acquisition of the remaining stake in Global Atlantic. KKR is now reporting financial results through three segments: Asset Management, Insurance and Strategic Holdings.
Fee Related Earnings (“FRE”) of $669 million ($0.75/adj. share) in the quarter, up 22% year-over-year
Total Operating Earnings ("TOE") of $962 million ($1.08/adj. share) in the quarter, up 28% year-over-year
Adjusted Net Income (“ANI”) of $864 million ($0.97/adj. share) in the quarter, up 20% year-over-year
New Capital Raised of $31 billion in the quarter
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KKR Revenue by Segment
Forward Guidance
Expect Strategic Holdings Operating Earnings will be modest in 2024, $300+ million by 2026, $600+ million by 2028 and $1+ billion by 2030. Note: Expectations about Strategic Holdings Operating Earnings over time are forward-looking statements. These are estimated based on various assumptions, and there is no guarantee that our expectations will be realized as presented.