Fee-related performance revenues were $54 million, up 45% year-over-year, driven by offshore Infrastructure K-Series vehicle performance allocation.
Fee-related performance revenues were $54 million, up 45% year-over-year, driven by performance allocation from offshore Infrastructure K-Series vehicle.
FRE margin improved by 360 basis points to 69%, and FRE per share increased 33% over the last 12 months.
FRE margin improved by 360 basis points to 69%, and FRE per share increased 33% over the last 12 months ending June 30, 2025.
Insurance segment operating earnings were $278 million, modestly ahead of prior guidance of $250 million plus/minus, with all-in pretax ROE approaching 20%.
Insurance segment operating earnings were $278 million, modestly ahead of prior guidance of $250 million plus/minus, with pretax ROE approaching 20% when including related economics.
KKR reported fee-related earnings (FRE) of $0.98 per share, total operating earnings (TOE) of $1.33 per share, and adjusted net income (ANI) of $1.18 per share for Q2 2025, all among the highest in company history.
Management fees in Q2 were $996 million, up 18% year-over-year, driven by Americas XIV fund activation and broader fundraising and deployment initiatives.
Private equity portfolio appreciated 5% in the quarter and 13% over 12 months; Real Assets and Credit portfolios showed positive returns across sub-segments.
Private equity portfolio appreciated 5% in the quarter and 13% over the last 12 months; Real Assets and Credit portfolios also showed positive returns.
Realized performance income was $419 million and realized investment income was $154 million, driven by public secondary sales, private transactions, and K-PRIME crystallization.
Strategic Holdings operating earnings were $29 million, with nearly 80% of segment earnings driven by recurring earnings streams.
Strategic Holdings operating earnings were $29 million, with nearly 80% of segment earnings from recurring streams over the last 12 months.
Total transaction and monitoring fees were $234 million, with $200 million from Capital Markets, over half from European activities.
Total transaction and monitoring fees were $234 million, with Capital Markets transaction fees at $200 million, over half from European activities.
Average deposits declined just over 1%, with non-interest bearing deposits stable at 38%.
Average loans grew almost 1% for the quarter and period-end loans increased approximately 3%.
Capitalization remained strong with an estimated CET1 ratio of 11.94%, well above the 10% strategic target.
Net charge-offs were 22 basis points, at the low end of the normal range and flat quarter-over-quarter.
Net interest income remained stable at $575 million for the third consecutive quarter.
Non-interest expenses decreased $23 million due to lower litigation expenses and salaries, with some offsetting increases in advertising and outside processing.
Non-interest income increased $20 million driven by higher loan volumes, capital markets income, and seasonal benefits.
Reported earnings per share of $1.42, a nearly 14% increase over the prior quarter.
Returned $193 million to shareholders through dividends and share repurchases, including $100 million in share repurchases in Q2.
Dafinchi