KKR & Co. has achieved a significant milestone in the industry by surpassing $500 billion in fee-paying assets under management, making it the fourth private-markets firm to do so.
The firm's third-quarter results, released on Thursday, revealed a 19% year-over-year increase in fee-paying assets, bringing the total to $506 billion. This growth reflects KKR's strategic shift beyond its traditional buyout roots, as it aims to attract more client assets and secure steadier fee income in a competitive market.
As a result of this announcement, KKR's shares experienced a notable rise, reaching a record high of $143.04 shortly after the market opened in New York.