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Jun 30, 2024
KKR Q2 2024 Earnings Report
KKR reported record Fee Related Earnings and experienced acceleration across its key operating metrics and financial results.
Key Takeaways
KKR reported a strong quarter with record Fee Related Earnings. The company raised $32 billion of new capital, bringing Assets Under Management to over $600 billion. KKR deployed $23 billion during the quarter, an increase from $10 billion in the previous year. Momentum across the firm remains high, and KKR is confident in its team, model, and growth prospects.
Fee Related Earnings (FRE) were $755 million ($0.84/adj. share), up 25% year-over-year.
Total Operating Earnings (TOE) were $1.0 billion ($1.17/adj. share), up 36% year-over-year.
Adjusted Net Income (ANI) was $972 million ($1.09/adj. share), up 49% year-over-year.
Assets Under Management (AUM) reached $601 billion, up 16% year-over-year.
Revenue by Segment
Forward Guidance
KKR anticipates Strategic Holdings Operating Earnings to be modest in 2024, with expectations of $300+ million by 2026, $600+ million by 2028, and $1+ billion by 2030.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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