KKR & Co. Inc. (NYSE: KKR) is a global investment firm known for its alternative asset management and capital markets expertise. As of March 31, 2025, the firm reported its first-quarter financial results, indicating a significant year-over-year performance rise. The company’s Fee Related Earnings (FRE) per share increased to $0.92, marking a 22% increase, while Total Operating Earnings (TOE) reached $1.24, up 16% compared to the same quarter last year. Adjusted Net Income (ANI) was noted at $1.15 per share, reflecting a 19% year-over-year rise.

KKR’s management fees were recorded at $917 million, up 13% year-over-year, bolstered by fundraising and deployment activities, contributing to total fee-related revenues of $1.2 billion, a 22% increase year-over-year. The firm raised an impressive $31 billion in new capital during the quarter. Management pay remained stable, representing 17.5% of fee-related revenues, maintaining the FRE margin at 69%. Total revenues showed a downward trend from last quarter’s $9.66 billion to $3.11 billion. Notably, insurance segment operating earnings came in at $259 million, while Strategic Holdings earned $31 million this quarter.

The firm’s investing activities demonstrated robust performance with realized performance income at $348 million and realized investment income at $218 million, yielding a total monetization activity of $566 million, which is nearly 40% higher year-over-year. KKR reported that its private equity portfolio appreciates 4% in the quarter and 11% over the past year. Insulated from volatility, the insurance division achieved stable earnings, with ongoing adjustments to extend its liabilities and capital management.

The growth trajectory is evident, supported by KKR’s uncalled commitments of $116 billion, with an increasing share of capital transitioning to more durable and lower-leverage investments. The Board of Directors declared a quarterly dividend of $0.185 per share, representing a 6% annualized increase from the previous year, marking the sixth consecutive year of dividend increases.

The current financial snapshot indicates that KKR is in a stable to rising condition overall, with strong momentum towards diversified capital management and an outlook that remains positive in earnings performance. The firm’s asset management segment continues to expand, showcasing strong growth reflected across various financial metrics year-over-year. The reported results delineate a well-rounded financial profile, reflective of KKR’s strategic positioning in the investment landscape.