KKR said its Credit and Liquid Strategies business line had $314.7 billion of AUM as of September 30, 2025, an increase of $38.5 billion compared to $276.2 billion as of December 31, 2024.

10-QQuarterly reportFiled Nov 7, 2025Period of report Sep 30, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

KKR said its Credit and Liquid Strategies business line had $314.7 billion of AUM as of September 30, 2025, an increase of $38.5 billion compared to $276.2 billion as of December 31, 2024.
KKR said its Private Equity business line had $149.7 billion of FPAUM as of September 30, 2025, an increase of $30.1 billion compared to $119.6 billion as of December 31, 2024. The company cited investment funds sponsored or managed by HealthCare Royalty Management, LLC, which it acquired on July 30, 2025, as one of the factors driving the increase.
KKR said it invested $15.2 billion in its Private Equity business line for the 9 months ended September 30, 2025, compared to $9.8 billion for the same period in the prior year; $19.2 billion in its Real Assets business line, compared to $21.5 billion in the prior year; and $28.4 billion in its Credit and Liquid Strategies business line, compared to $29.6 billion in the prior year.
KKR said Insurance operating earnings increased for the 9 months ended September 30, 2025 compared to the prior year, citing as factors the increase in average assets under management, higher portfolio yields, and a favorable impact of $41.0 million from the annual assumption review in Q3.

Key figures

Quarter ended September 30, 2025

Revenue: $5.5B
Net income: $900M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Credit and Liquid Strategies AUM Increase

KKR said its Credit and Liquid Strategies business line had $314.7 billion of AUM as of September 30, 2025, an increase of $38.5 billion compared to $276.2 billion as of December 31, 2024.

Source · Based on the MD&A text of the filing

Private Equity FPAUM and HealthCare Royalty Acquisition

KKR said its Private Equity business line had $149.7 billion of FPAUM as of September 30, 2025, an increase of $30.1 billion compared to $119.6 billion as of December 31, 2024. The company cited investment funds sponsored or managed by HealthCare Royalty Management, LLC, which it acquired on July 30, 2025, as one of the factors driving the increase.

Source · Based on the MD&A text of the filing

Capital Invested in 9 Months

KKR said it invested $15.2 billion in its Private Equity business line for the 9 months ended September 30, 2025, compared to $9.8 billion for the same period in the prior year; $19.2 billion in its Real Assets business line, compared to $21.5 billion in the prior year; and $28.4 billion in its Credit and Liquid Strategies business line, compared to $29.6 billion in the prior year.

Source · Based on the MD&A text of the filing

Insurance Operating Earnings Change and Assumption Review

KKR said Insurance operating earnings increased for the 9 months ended September 30, 2025 compared to the prior year, citing as factors the increase in average assets under management, higher portfolio yields, and a favorable impact of $41.0 million from the annual assumption review in Q3.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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