Earnings / Asset Management
KKR Reports Record Fee Related Earnings as Assets Under Management Reach $804 Billion
A record run of fee income and asset sales leaves the firm expecting its biggest year of client returns yet.
TickerGrove Newsroom · Published
KKR reported Adjusted Net Income of $1.78 per adjusted share for the third quarter on Monday, above the $1.59 LSEG estimate.
On a GAAP basis, net income was $1.19 a diluted share. That compares with $0.90 a share in the third quarter of 2025.
GAAP net income attributable to common stockholders was $1.12 billion. Adjusted Net Income totaled $1.65 billion in the quarter.
Ahead of the LSEG estimate
Reuters put the LSEG average estimate at $1.59 a share. No LSEG revenue estimate was carried in the reports retrieved.
Adjusted Net Income therefore beat the estimate by about 11.9%. That margin is a TickerGrove calculation from the two figures.
Fee earnings set the record
Fee Related Earnings rose to $1.32 billion in the quarter. Fee Related Earnings are profit from recurring management fees.
That compares with $1.03 billion a year earlier, up 27%. Per adjusted share, the figure reached $1.42, from $1.15.
Management fees rose to $1.2 billion, from $1.06 billion. Fee related performance revenues jumped to $326 million, from $73 million.
Total Operating Earnings reached $1.74 billion, up 25%. Total Operating Earnings sum fee, insurance and strategic holdings earnings.
KKR called its per-share figures records as a public company. That claim covers fee, operating and adjusted income alike.
Over the last twelve months, Fee Related Earnings reached $4.5 billion. Total Operating Earnings reached $5.9 billion over the same period.
Revenue fell even as profit rose
Total GAAP revenue fell to $4.56 billion in the quarter. That compares with $5.53 billion in the third quarter of 2025.
The decline works out to 17.4%. That rate is a TickerGrove calculation, not a company figure.
Insurance revenue fell to $2.8 billion, from $3.78 billion. Asset management and strategic holdings revenue edged up to $1.76 billion.
Insurance lagged the firm
Sources & evidence
Sources used for this piece.
KKR & Co. Inc. via Business Wire
Reuters
Reuters - KKR profit hits record as asset sales, fees surge, Nov. 9, 2026
KKR & Co. Inc. via Business Wire
Corrections
We do not silently rewrite a published line. Material corrections receive a visible correction note, and we preserve the article’s update history.
Discuss this story. Join TickerGrove on Discord to talk companies, earnings, and markets, or request future coverage.
