KKR announces that its total sales reached $9.65 billion in Q1, more than tripling compared to the same period a year earlier ($3.12 billion).
In detail, it was the Insurance division in particular that exploded in the 1st quarter, rising from $2 to $7.7 billion in twelve months, while the Asset Management & Strategic Holdings segment also saw its sales rise sharply, from $1.1 to $1.9 billion.
Assets under management reached $578 million, compared with $510 million a year earlier. Net income, group share, more than doubled from $322 million to $682 million.
On an adjusted basis, KKR posted net income of $864 million, up 20%, giving adjusted EPS of $0.97.
Finally, Joseph Y. Bae and Scott C. Nuttall, co-CEOs of KKR, recalled that they had raised $31 billion in new capital. Against this backdrop, they believe that KKR is 'well positioned for the years ahead'.
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KKR & Co. Inc. is a financial services group organized around 2 areas of activity:
- insurance (67% of revenues): notably life insurance and pensions. The group also offers reinsurance solutions for private and institutional clients;
- asset management (33%): management of private equity funds, equity funds, alternative credits, real estate assets, energy and infrastructure assets, investment funds, etc. In 2024, KKR & Co. Inc. has USD 637,572 million of assets under management.
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