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Dec 31, 2024
KKR Q4 2024 Earnings Report
KKR reported strong growth in fee-related earnings, total operating earnings, and adjusted net income, driven by an improved operating environment.
Key Takeaways
KKR reported strong Q4 2024 results, with key financial metrics including Fee Related Earnings, Total Operating Earnings and Adjusted Net Income all growing significantly year-over-year. The firm raised a substantial amount of capital, invested a record amount on behalf of clients, and generated $1 billion in revenues in its capital markets business for the first time.
Fee Related Earnings (FRE) increased by 25% year-over-year to $843 million.
Total Operating Earnings (TOE) increased by 19% year-over-year to $1.1 billion.
Adjusted Net Income (ANI) increased by 33% year-over-year to $1.2 billion.
Assets Under Management (AUM) reached $638 billion, a 15% increase year-over-year.
Forward Guidance
KKR anticipates continued growth in Strategic Holdings Operating Earnings, projecting $350+ million by 2026, $700+ million by 2028, and $1.1+ billion by 2030.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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