KKR is a global investment firm specializing in asset management, capital markets, and insurance services. The company offers a diverse range of financial products and services, including private equity, real assets, credit strategies, and insurance products, catering to both its portfolio companies and third-party clients . KKR's asset management segment is a major revenue driver, with significant earnings from management fees . The firm's capital markets business provides comprehensive capital solutions, while its insurance operations, managed by Global Atlantic, focus on retirement, life, and reinsurance products .
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Asset Management - Manages investments across five business lines, generating revenue through management fees, incentive fees, carried interest, and transaction fees.
- Private Equity - Invests in private companies to drive growth and operational improvements.
- Real Assets - Focuses on investments in infrastructure and real estate.
- Credit and Liquid Strategies - Offers credit investment opportunities and liquid market strategies.
- Capital Markets - Provides capital solutions, including debt and equity financing and securities underwriting.
- Principal Activities - Engages in proprietary investment activities.
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Capital Markets - Provides traditional and non-traditional capital solutions, including arranging debt and equity financing, underwriting securities offerings, and offering capital markets advice to both KKR's portfolio companies and third-party clients.
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Insurance - Operated by Global Atlantic, offers retirement, life, and reinsurance products, earning income through the spread between investment income and policyholder benefits costs.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
George R. Roberts ExecutiveBoard | Co-Executive Chairman | Founder and Chairman of REDF; Trustee: Claremont McKenna College. | Co-founded KKR in 1976; served as Co-CEO until October 2021; extensive experience in private equity and global investment strategy. | |
Henry R. Kravis ExecutiveBoard | Co-Executive Chairman | Boards: Axel Springer, ICONIQ Capital; Trustee/Chairman Emeritus: Claremont McKenna College, Columbia Business School, Mount Sinai Hospital, Rockefeller University, Sponsors for Educational Opportunity. | Co-founded KKR in 1976; served as Co-CEO until October 2021; over four decades of experience in private equity and global investment leadership. | |
Joseph Y. Bae ExecutiveBoard | Co-Chief Executive Officer | Co-Founder and Board Member of The Asian American Foundation; Member of Harvard University’s Global Advisory Council; Board Member of Lincoln Center. | Joined KKR in 1996; architect of KKR’s Asia expansion; led private markets businesses and thematic investment strategies. | View Report → |
Scott C. Nuttall ExecutiveBoard | Co-Chief Executive Officer | Former Board Member of Fiserv, Inc.; Co-Chairman of Teach for America – New York. | Joined KKR in 1996; led strategic initiatives, including KKR’s public listing and development of capital markets and insurance businesses. | |
Dane E. Holmes Executive | Chief Administrative Officer | Chairman of Storycorps; Board Member of The Ron Brown Scholar Program. | Joined KKR as CAO in 2023; former CEO of Eskalera and Global Head of Human Capital Management at Goldman Sachs. | |
Kathryn K. Sudol Executive | Chief Legal Officer | Trustee of New York University School of Law. | Joined KKR in 2022; former Global Co-Head of M&A at Simpson Thacher; extensive legal expertise in corporate and private equity transactions. | |
Robert H. Lewin Executive | Chief Financial Officer | Board Member of Answer the Call. | Joined KKR in 2004; previously co-led credit and capital markets businesses; played a key role in KKR’s Asia expansion. | |
Ryan D. Stork Executive | Chief Operating Officer | None. | Joined KKR in 2022; former Deputy COO and Chairman of Asia Pacific at BlackRock; extensive experience in financial services. | |
Adriane M. Brown Board | Director | Boards: American Airlines, Axon Enterprise, eBay; Member of International Women’s Forum. | Joined KKR’s Board in 2021; former President and COO of Intellectual Ventures; extensive leadership experience in technology and industrial companies. | |
Arturo Gutiérrez Board | Director | CEO of Arca Continental; Boards: Piasa, Jugos del Valle; Member: U.S.-Mexico CEO Dialogue, Consumer Goods Forum in Latin America. | Joined KKR’s Board in 2021; extensive leadership experience in multinational operations and consumer goods. | |
Evan T. Spiegel Board | Director | CEO and Board Member of Snap Inc.; Founder of Spiegel Family Fund; Board Member of Berggruen Institute. | Joined KKR’s Board in 2021; co-founder and CEO of Snap Inc.; extensive experience in technology and innovation. | |
Kimberly A. Ross Board | Director | Boards: Nestlé, Northrop Grumman, The Cigna Group. | Joined KKR’s Board in 2023; former CFO of WeWork, Baker Hughes, and Avon; extensive expertise in corporate finance and strategy. | |
Mary N. Dillon Board | Director | President and CEO of Foot Locker; Former Board Member of Starbucks, Target, and Ulta Beauty. | Joined KKR’s Board in 2018; extensive experience in consumer-driven businesses; former CEO of Ulta Beauty. | |
Matthew R. Cohler Board | Director | Boards: Asana, 1stDibs; Trustee: Environmental Defense Fund; Vice President: San Francisco Symphony; Member: Chan Zuckerberg Initiative, Yale Investments Office. | Joined KKR’s Board in 2021; former General Partner at Benchmark; early executive at Facebook and LinkedIn; extensive experience in venture capital and technology. | |
Patricia F. Russo Board | Director | Chairman of Hewlett Packard Enterprise; Director of Merck & Co. and General Motors. | Joined KKR’s Board in 2011; former CEO of Alcatel-Lucent; extensive experience in corporate governance and leadership. | |
Robert W. Scully Board | Director | Boards: Zoetis, Chubb Limited; Member of Teach For All and Nassau Hall Society at Princeton University. | Joined KKR’s Board in 2010; over 35 years of experience in financial services; former executive at Morgan Stanley. | |
Xavier B. Niel Board | Director | Founder and Chairman of Iliad SA; Founder of Kima Ventures, 42, and Station-F. | Joined KKR’s Board in 2018; entrepreneur and leader in telecommunications and technology sectors. |
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Given that you don't expect $400-plus million to be the new quarterly run rate for your Capital Markets business , how do you plan to sustain or grow revenues in that segment, considering its significant contribution this quarter?
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With the potential impacts of tariffs and a trade war on your portfolio companies , what specific measures are you taking to mitigate these risks, especially for sectors that might be negatively affected?
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Regarding your target of 14%-15% pretax ROE for Global Atlantic , given the upfront costs and variability in growth you've mentioned, can you elaborate on the concrete steps you're taking to achieve this target, and whether the 2026 timeline is still realistic?
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Your asset-backed finance business has grown over 40% to $66 billion in AUM , can you provide more details on the credit quality and risk management practices in place, especially considering the rapid expansion in this area?
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In light of the challenges in the real estate market and evolving investor sentiment , how confident are you in scaling your real estate equity platforms, and what strategies are you implementing to address potential headwinds in fundraising and deployment?
Research analysts who have asked questions during KKR & Co. earnings calls.
Craig Siegenthaler
Bank of America
4 questions for KKR
Glenn Schorr
Evercore ISI
4 questions for KKR
Michael Cyprys
Morgan Stanley
4 questions for KKR
Patrick Davitt
Autonomous Research
4 questions for KKR
Steven Chubak
Wolfe Research
4 questions for KKR
Alexander Blostein
Goldman Sachs
3 questions for KKR
Benjamin Budish
Barclays PLC
3 questions for KKR
Brian Bedell
Deutsche Bank
3 questions for KKR
Daniel Fannon
Jefferies Financial Group Inc.
3 questions for KKR
Kyle Voigt
Keefe, Bruyette & Woods
3 questions for KKR
Michael Brown
Wells Fargo Securities
3 questions for KKR
William Katz
TD Cowen
3 questions for KKR
Arnaud Giblat
BNP Paribas
2 questions for KKR
Brian McKenna
Citizens JMP Securities
2 questions for KKR
Alex Blostein
Goldman Sachs
1 question for KKR
Ben Budish
Barclays PLC
1 question for KKR
Bill Katz
TD Securities
1 question for KKR
Christoph Kotowski
Oppenheimer & Co. Inc.
1 question for KKR
John Barnidge
Piper Sandler
1 question for KKR
Vikram Gandhi
HSBC
1 question for KKR
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
USI Insurance Services | 2025 | KKR announced plans to increase its stake in USI Insurance Services as part of a broader $1.1 billion investment in its Strategic Holdings segment, with the transaction expected to close in the first half of 2025 and executed in partnership with Chubb. |
1-800 Contacts | 2025 | KKR arranged to boost its ownership in 1-800 Contacts as part of the same Strategic Holdings initiative, contributing to roughly $3.7 billion of revenue and slated for completion in the first half of 2025. |
Heartland Dental | 2025 | KKR is set to increase its stake in Heartland Dental along with USI and 1-800 Contacts through a total investment of $2.1 billion, aligning with its long-term private equity strategy and expected to close in the first half of 2025. |
The Global Atlantic Financial Group LLC | 2024 | KKR completed the acquisition of the remaining 37% of Global Atlantic Financial Group LLC on January 2, 2024, for approximately $2.6 billion in cash and $41 million in exchangeable securities, resulting in 100% ownership and a reduction in noncontrolling interests. |
FGS Global | 2023 | KKR acquired FGS Global, a leading strategic communications advisory firm, as part of its European Private Equity operations, leveraging over a decade-long management relationship to bolster its proprietary opportunities. |
Vantage Towers | 2023 | In a take‐private transaction executed with Vodafone, KKR acquired Vantage Towers—the second‐largest telecom tower company in Europe—funded primarily by its diversified core Infrastructure Fund. |
Mitsubishi Corp.-UBS Realty Inc. | 2022 | KKR completed an all-cash acquisition of Mitsubishi Corp.-UBS Realty Inc. for approximately JPY 230 billion (about $1.8 billion), subsequently renaming it to KJR Management to enhance its real estate asset management business in Japan. |
Recent press releases and 8-K filings for KKR.
- KKR's ToltIQ inaugurated an AWS region in Dublin to extend its AI-powered due diligence platform to UK and European private markets, ensuring local data residency under GDPR and EU AI Act requirements.
- Mat Stephens, former EMEA IT head at KKR, was appointed Head of European Operations while retaining his role as Global CISO, to drive regional expansion.
- European clients will access the full suite of AI capabilities—including automated document analysis, risk assessment, and financial insight extraction—previously available to US users.
- KKR will pay $950 million for a 50% stake in TotalEnergies’ North American solar portfolio, valuing the assets at $1.25 billion.
- The portfolio comprises six utility-scale solar assets (1.3 GW) and 41 distributed generation projects (140 MW), primarily in the U.S..
- Proceeds will aid TotalEnergies in its strategy to divest up to half of renewable assets at commercial operation and help reduce its $26 billion debt as of June 30, 2025.
- KKR has now committed over $23 billion to energy transition projects, reinforcing its focus on long-term renewable investments.
- KKR is making a growth investment into Infobric, becoming a significant shareholder alongside majority investor Stirling Square and Infobric’s management team.
- The investment will support Infobric’s continued product innovation, geographic expansion, and strategic M&A activities to accelerate growth.
- Infobric currently serves over 12,000 general contractors, 75,000 subcontractors, and 450,000 app users across the Nordics and the UK.
- As part of the transaction, Summa Equity will exit its minority stake; financial terms of the deal are not disclosed.
- KKR & Co. joins majority investor Stirling Square Capital Partners and Infobric’s management in a funding round valuing the company at €600 million ($702 million) to accelerate product innovation, geographic expansion, and M&A.
- Infobric’s construction software platform supports over 12,000 general contractors, 75,000 subcontractors, and 450,000 app users across the Nordics and the UK, with a focus on workforce management, equipment tracking, compliance, and safety.
- KKR operates through two core segments—asset management (private equity, credit, infrastructure, energy, and real estate) and public markets (credit and hedge fund platforms)—and has expanded into insurance via the acquisition of Global Atlantic Financial Group.
- ContourGlobal, KKR’s independent power producer, commissioned Black Hollow Sun I (185 MWp) in Severance, Colorado, as its first operational renewable plant in the United States.
- The next phase, BHS II (139 MWp), is under construction and expected online by end-2026, bringing the Black Hollow Sun complex to 324 MWp total capacity.
- Upon full completion, the facility will produce about 608 GWh annually—powering over 73,000 homes and avoiding nearly 450,000 tonnes of CO₂ emissions each year.
- BHS I contributes to ContourGlobal’s US portfolio, now at 2.8 GW of renewable and thermal capacity (including 1.5 GW operating and 1 GW solar PV plus 0.3 GW BESS planned).
- ContourGlobal, a KKR subsidiary, commissioned its first US renewable plant, Black Hollow Sun I (185 MWp), near Severance, Colorado.
- BHS I is phase one of the Black Hollow Sun project, with a 139 MWp second phase expected by end-2026, totaling 324 MWp.
- The complex will produce 608 GWh annually for Platte River Power Authority—powering 73,000 homes and avoiding 450,000 metric tons of CO₂ per year.
- The launch commemorates ContourGlobal’s 20-year US presence and its strategy to become a predominantly renewable IPP.
- ContourGlobal (a KKR company) has commissioned Black Hollow Sun I, a 185 MWp photovoltaic plant in Severance, Colorado, supplying power to Platte River Power Authority.
- Black Hollow Sun I is the first phase of the Black Hollow Sun complex; phase two (BHS II, 139 MWp) is under construction and expected online by end-2026.
- Upon full completion, the 324 MWp project will generate ~608 GWh annually—enough to power over 73,000 homes and avoid ~450,000 tons of CO₂ per year.
- The addition increases ContourGlobal’s US renewables portfolio to 2.8 GW of operational, under-construction, or late-stage projects; its current operational capacity is 1.5 GW, including thermal and oil-fired plants.
- Phase 1 trials launched for TLN-121 (BCL6 degrader), TLN-372 (pan-KRAS inhibitor) and TLN-254 (EZH2 inhibitor) in lymphoma and KRAS-altered cancer patients.
- $200 million Series A extension closed, bringing total funding to $1.1 billion; investors include KKR & Co., ARCH Venture Partners, OrbiMed and GV.
- SOVRA appointed Tom Spengler as CEO, with Luc Filiatreault moving to the board and an advisory role.
- The company acquired Ontopical, an AI-driven government intelligence platform, to enhance pre-RFP insights and launch an AI Center of Excellence.
- SOVRA completed the divestiture of six non-core businesses—Polygon, The Broker Forum, Carrus, Jobboom, KCentric and Orckestra—to Valsoft and another vertical SaaS acquirer.
- Completed offering of $900 million 5.100% Senior Notes due 2035, guaranteed by KKR Group Partnership L.P., on August 7, 2025.
- Notes bear 5.100% interest, payable semi-annually on February 7 and August 7, maturing August 7, 2035; unsecured and unsubordinated.
- Priced at 99.752% of par (plus accrued interest), with an underwriting discount of 0.650%, yield to maturity 5.132% (spread T+93 bps).
- Covenants limit secured indebtedness and asset dispositions; make-whole redemption prior to May 7, 2035, par redemption thereafter; change-of-control repurchase at 101% of principal.