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KKR & Co. (KKR)

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 .

  1. 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.
  2. 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.

  3. 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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NamePositionExternal RolesShort 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.

  1. 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?

  2. 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?

  3. 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?

  4. 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?

  5. 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

Also covers: AB, AMP, AMTD +24 more

Glenn Schorr

Evercore ISI

4 questions for KKR

Also covers: APO, BAC, BEN +14 more

Michael Cyprys

Morgan Stanley

4 questions for KKR

Also covers: AAMI, AMP, AMTD +29 more

Patrick Davitt

Autonomous Research

4 questions for KKR

Also covers: ABL, AMG, APO +10 more

Steven Chubak

Wolfe Research

4 questions for KKR

Also covers: AMP, AMTD, APO +16 more

Alexander Blostein

Goldman Sachs

3 questions for KKR

Also covers: AB, AMG, AMP +30 more

Benjamin Budish

Barclays PLC

3 questions for KKR

Also covers: AB, APO, ARES +23 more

Brian Bedell

Deutsche Bank

3 questions for KKR

Also covers: AMG, AMTD, APO +21 more

Daniel Fannon

Jefferies Financial Group Inc.

3 questions for KKR

Also covers: AB, AMG, AMTD +27 more

Kyle Voigt

Keefe, Bruyette & Woods

3 questions for KKR

Also covers: AMTD, APO, ARES +16 more

Michael Brown

Wells Fargo Securities

3 questions for KKR

Also covers: APO, ARES, BAM +18 more

William Katz

TD Cowen

3 questions for KKR

Also covers: AB, AMG, AMTD +25 more

Arnaud Giblat

BNP Paribas

2 questions for KKR

Also covers: BX, TPG

Brian McKenna

Citizens JMP Securities

2 questions for KKR

Also covers: ARCC, ARES, BX +14 more

Alex Blostein

Goldman Sachs

1 question for KKR

Also covers: AB, AMG, AMP +22 more

Ben Budish

Barclays PLC

1 question for KKR

Also covers: AB, APO, ARES +19 more

Bill Katz

TD Securities

1 question for KKR

Also covers: AB, AMTD, BRDG +6 more

Christoph Kotowski

Oppenheimer & Co. Inc.

1 question for KKR

Also covers: AOMR, GCMG, OWL +3 more

John Barnidge

Piper Sandler

1 question for KKR

Also covers: AFL, AIZ, AMP +15 more

Vikram Gandhi

HSBC

1 question for KKR

Also covers: BAM, CB, TRV
Program DetailsProgram 1
Approval DateNot specified
End Date/DurationNo expiration date
Total Additional Amount$500 million
Remaining Authorization$69 million
DetailsThe program automatically adds an additional $500 million when the remaining available amount becomes $50 million or less. It can be suspended, extended, modified, or discontinued at any time.
YearAmount Due (Billions)Debt TypeInterest Rate (%)% of Total Debt
20240.750Revolving Credit FacilitiesN/A1.6% = (0.750 / 45.642) * 100
20240.348KKR Yen Senior Notes1.670.8% = (0.348 / 45.642) * 100
20293.469Revolving Credit FacilitiesN/A7.6% = (3.469 / 45.642) * 100
20290.750KKR USD Senior Notes4.231.6% = (0.750 / 45.642) * 100
20290.909KKR Yen Senior Notes1.672.0% = (0.909 / 45.642) * 100
20290.724KKR Euro Senior Notes1.631.6% = (0.724 / 45.642) * 100
20310.001KKR Group Finance Co. XI LLC Yen Notes1.7620.0% = (0.001 / 45.642) * 100
20340.026KKR Group Finance Co. XI LLC Yen Notes2.0830.1% = (0.026 / 45.642) * 100
20440.010KKR Group Finance Co. XI LLC Yen Notes2.7190.0% = (0.010 / 45.642) * 100
20540.010KKR Group Finance Co. XI LLC Yen Notes3.0080.0% = (0.010 / 45.642) * 100
After 5 Years4.250KKR USD Senior Notes4.239.3% = (4.250 / 45.642) * 100
After 5 Years0.648KKR Yen Senior Notes1.671.4% = (0.648 / 45.642) * 100
After 5 Years0.500KKR Subordinated Notes4.631.1% = (0.500 / 45.642) * 100
After 5 Years0.690KFN USD Senior Notes5.441.5% = (0.690 / 45.642) * 100
After 5 Years0.259KFN Junior Subordinated Notes8.000.6% = (0.259 / 45.642) * 100
After 5 Years3.900Other Debt ObligationsN/A8.5% = (3.900 / 45.642) * 100
NameStart DateEnd DateReason for Change
Deloitte & Touche LLP2006 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

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.

BrightSpring Health Services reports Q3 2025 results and raises 2025 guidance
·$KKR
Earnings
Guidance Update
M&A
  • Revenues of $3,334 million in Q3 2025, up 28.2% year-over-year; Gross Profit of $392 million, up 21.3%; Adjusted EBITDA of $160 million, up 37.2%
  • Net income from continuing operations of $37.5 million versus a net loss of $25.7 million in Q3 2024
  • Raised full-year 2025 Revenue guidance to $12,500–12,800 million (24.1–27.1% growth) and reiterated Adjusted EBITDA guidance of $605–615 million (31.5–33.7% growth)
  • Planned divestiture of the Community Living business to Sevita expected to close in Q1 2026; Leverage was 3.31x at September 30, 2025
2 days ago
KKR in talks to acquire Costa Coffee
·$KKR
M&A
  • KKR, with $686 billion AUM, is in talks to acquire Costa Coffee from Coca-Cola for around £1.5 billion, facing competition from Bain Capital and TDR Capital.
  • The news sparked a 2.3% premarket stock rise for KKR shares.
  • Costa Coffee operates over 2,000 UK and 3,000 global stores, with 2023 revenues of £1.22 billion (up 9% YoY but below the £1.3 billion 2018 pre-acquisition level).
  • KKR’s financials show a 3-year revenue decline of -3.2%, net margin of 12.82%, and an Altman Z-Score of 0.67, indicating potential distress.
4 days ago
KKR and Quadrantis to Acquire Minority Stakes in Peak Re
·$KKR
M&A
New Projects/Investments
  • KKR and Quadrantis Capital will acquire minority stakes in Hong Kong-based reinsurer Peak Re, with KKR obtaining approximately 11.27% and Quadrantis 1.80%, while Fosun retains about 86.71%.
  • The transaction follows Prudential Financial’s divestment of its roughly 13.07% indirect stake in Peak Re.
  • The deal is expected to close in Q4 2025, subject to regulatory approvals.
  • KKR underscores Asia’s emergence as a growth engine for insurance and highlights Peak Re’s disciplined underwriting and strong governance; Peak Re expects the partnerships to enhance global client service without impacting stability.
Oct 21, 2025, 1:31 AM
BrightSpring Health Services reports preliminary Q3 2025 results and raises guidance
·$KKR
Earnings
Guidance Update
M&A
  • BrightSpring posted preliminary third quarter revenue of $3.334 billion, up 28.2% year-over-year, net income of $37.5 million versus a $25.7 million loss last year, and Adjusted EBITDA of $160 million (+37.2%).
  • Full-year 2025 guidance was increased to $12.4 billion–$12.7 billion in revenue (23.1%–26.1% growth) and $605 million–$615 million in Adjusted EBITDA (31.5%–33.7% growth).
  • The company plans to divest its Community Living business to Sevita, expected to close in early Q1 2026.
Oct 20, 2025, 8:13 PM
KKR launches $500M Galaxy container leasing platform
·$KKR
Product Launch
New Projects/Investments
  • KKR launched Galaxy Container Solutions, a new container leasing and financing company with $500 million in committed capital under its Asset-Based Finance strategy.
  • Galaxy aims to serve shipping lines worldwide, offering leasing and financing options to support fleet growth and balance sheet optimization.
  • The platform is led by CEO Jeffrey Gannon, COO Adrian Dunner, and CFO Stephen Controulis, who bring experience from Global Container International.
  • The launch coincides with container leasing industry consolidation, including Brookfield’s acquisition of Triton International and Stonepeak’s purchase of Textainer.
Oct 20, 2025, 9:24 AM
KKR & Co. leads $350M financing for BOND premium fractional aviation
·$KKR
New Projects/Investments
Debt Issuance
Product Launch
  • KKR & Co.-managed credit funds led $320 million in preferred equity and debt financing, alongside $30 million from founding partners—totaling $350 million—to launch BOND, the world’s first premium fractional aviation company.
  • BOND placed a $1.7 billion firm order and service agreement with Bombardier for 50 Challenger 3500 and Global 6500 aircraft, plus options for 70 additional jets, potentially exceeding $4 billion in value.
  • The service offers fractional ownership with the lowest owner-to-aircraft ratio, a 100% super-mid and large cabin fleet, flight attendants on every flight, and an integrated OEM–operator service agreement for enhanced reliability.
  • Under Bill Papariella as Chairman and Group CEO, members will begin flying in early 2027 through a high-touch, capital-efficient model designed for exclusivity and reliability.
Oct 14, 2025, 10:00 PM
KKR and PAG in talks to acquire Sapporo real estate unit
·$KKR
M&A
  • Sapporo Holdings selected a consortium led by KKR and PAG as preferred bidders for its office buildings and commercial facilities subsidiary.
  • The proposed sale values the real estate unit at approximately 400 billion yen (about $2.6 billion).
  • Sapporo aims to finalize the deal by year-end, with an agreement expected in November, though a final deal is not guaranteed.
  • News of the potential transaction drove increased trading activity in KKR shares.
Oct 14, 2025, 3:29 PM
KKR launches ToltIQ Dublin data center for AI due diligence in Europe
·$KKR
Product Launch
  • 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.
Oct 6, 2025, 6:24 AM
KKR & Co. acquires 50% stake in TotalEnergies’ North American solar portfolio
·$KKR
M&A
New Projects/Investments
  • 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 $23 billion to energy transition projects, reinforcing its focus on long-term renewable investments.
Sep 29, 2025, 6:14 AM
KKR makes growth investment in Infobric with Stirling Square
·$KKR
New Projects/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.
Sep 29, 2025, 6:00 AM