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Mar 31, 2024
KKR Q1 2024 Earnings Report
KKR reported a solid quarter with year-over-year growth in Fee Related Earnings, Total Operating Earnings and Adjusted Net Income, and raised new capital.
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
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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