The statements contained in this presentation are made as of the date of this presentation, other than financial figures, which are as of March 31, 2025, unless another time is specified in relation to such statements or financial figures, and access to this presentation at any given time shall not give rise to any implication that there has been no change in the facts set forth in this presentation since such date. This presentation contains certain forward-looking statements pertaining to KKR, including w ...

Summary of KKR Conference Call Company Overview - KKR is a global investment firm specializing in alternative asset management, capital markets, and insurance solutions, managing over $664 billion in assets under management [2][11][21]. Key Points Discussed Capital Markets Platform - KKR has the largest and most specialized capital markets platform among asset managers, which drives investment performance and serves as a significant revenue stream [5][21]. - The capital markets platform is responsible for arranging debt and equity financing across all investment strategies globally, serving both KKR's internal needs and external clients [6][10]. Revenue Generation - KKR completed approximately 400 transactions annually, generating over $400 billion in debt and equity financings last year, with a cumulative total of $2 trillion since inception [9][11]. - The capital markets business has evolved from generating $1 million in fees in 2007 to $1 billion last year, driven by firm growth and an expanded client base [11][12]. Diversification and Resilience - The revenue base has diversified significantly, with traditional private equity activities accounting for only 50% of revenues from 2020 to 2024, compared to 91% from 2012 to 2015 [13][14]. - KKR demonstrated resilience during market downturns, generating $600 million in revenue during the recession years of 2022 and 2023, showcasing the strength of its diversified revenue streams [15][17]. Growth Orientation - KKR's growth in capital markets is closely tied to the firm's overall growth, with a strong correlation between assets under management (AUM) and capital markets fees [18][50]. - The firm is focused on expanding its party business, which has generated over $1 billion in revenue since its inception, targeting a larger client base beyond KKR-owned companies [20][21]. Market Outlook - The capital markets outlook is cautiously optimistic, with $7 trillion in cash on the sidelines waiting to be invested, indicating strong liquidity [25]. - M&A activity is seen as a key driver for future deal-making, with expectations for a resurgence in corporate activity [28]. Geographic and Sector Opportunities - KKR is expanding its presence in Asia, which is expected to see significant growth in capital markets due to a shift from bank-driven financing to institutional capital [66][67]. - Japan and India are highlighted as key markets, with Japan undergoing corporate governance reforms and India benefiting from a large service-based economy [67][68]. Private Credit Market - KKR manages over $100 billion in private credit, with direct lending and asset-based financing emerging as significant growth areas [70][72]. - The firm anticipates rapid growth in the asset-based financing sector, driven by increased investor interest and borrower demand for flexible financing structures [73]. Additional Insights - KKR's capital markets business is characterized by a high degree of operational efficiency, with a relatively small team generating substantial revenue [33]. - The firm is focused on building specialized capabilities in structured capital markets and asset-based financing to capture new revenue streams [57][59]. This summary encapsulates the key insights and strategic directions discussed during the KKR conference call, highlighting the firm's robust capital markets platform, diversification strategies, and growth potential in various markets.

Core Viewpoint - KKR Real Estate Finance (KREF) has maintained its quarterly cash dividend at $0.25 per share, resulting in an annualized dividend of $1 per share, which translates to a 10.87% dividend yield, reflecting an expansion year-to-date [1]. Group 1: Company Performance - KREF's dividend yield has increased year-to-date, indicating strong performance in the equity market [1]. Group 2: Investment Strategy - Pacifica Yield focuses on long-term wealth creation by targeting undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1].

Core Insights - HarbourView Equity Partners has successfully closed an additional $500 million in debt financing through a new private securitization backed by its diversified music portfolio, bringing its total regulatory assets under management to approximately $2.67 billion [1][8] - The financing was supported by KKR-managed insurance vehicles, which also participated in a previous financing round of nearly $500 million in 2024 [2][4] - HarbourView aims to leverage this additional capital to accelerate its strategy in the media, sports, and entertainment markets, focusing on investing in evergreen intellectual property that is historically uncorrelated to broader market volatility [3][5] Company Overview - Established in 2021, HarbourView has built a diverse portfolio featuring over 70 music catalogs and approximately 35,000 songs across various genres and artists [5][8] - The firm has engaged in notable projects, including financing Hip Hop biopics in partnership with Will Smith's Westbrook Studios and investing in Usher's 2024 concert film [5] - HarbourView's strategy emphasizes data analytics and value creation to deliver differentiated returns within the creative ecosystem [5][8] KKR's Role - KKR's Asset-Based Finance strategy focuses on credit investments backed by diversified pools of financial and hard assets, with approximately $74 billion in ABF assets under management globally [4] - KKR's continued support for HarbourView highlights the strong demand for uncorrelated assets in the market [6][10] - The partnership with KKR exemplifies the breadth of investment opportunities in music intellectual property [3][4]

KKR and PSP Investments have jointly acquired a 19.9% equity interest investment in AEP's Ohio and Indiana Michigan transmission companies. The transaction proceeds will be used to support AEP's five-year, $54 billion capital plan.COLUMBUS, Ohio, June 5, 2025 /PRNewswire/ -- American Electric Power (Nasdaq: AEP), KKR and PSP Investments have completed the transaction announced in January 2025 for KKR and PSP Investments to jointly invest $2.82 billion for a 19.9% equity interest in AEP's Ohio and Indiana M ...

泰晤士水务公司在一份声明中表示，KKR在股权融资过程中的优先合作伙伴地位现已失效。公司计划 与ofwa和其他利益相关者就优先债权人的计划进行讨论。（彭博） ...

Core Insights - KKR & Co. Inc. has launched a new exchange-traded fixed-income security, specifically the 6.875% Subordinated Notes due June 1, 2065 [1] Group 1 - The new security offers a fixed interest rate of 6.875%, which may attract investors looking for stable income [1] - The notes are subordinated, indicating they will be repaid after other debts in the event of liquidation, which may present a higher risk compared to senior debt [1] - The issuance of these notes is part of KKR's strategy to diversify its funding sources and enhance its capital structure [1]

Group 1 - KKR's Co-CEO Scott Nuttall participated in the Bernstein 41st Annual Strategic Decisions Conference, discussing the current economic landscape and inflation concerns [1][2]. - The company acknowledges the recent volatility in the market, highlighting concerns about persistent inflation, prolonged high interest rates, and potential economic slowdown or stagflation [4]. - KKR's internal view suggests that inflation rates are expected to remain elevated for a longer period, which aligns with the company's historical perspective over its 49 years of operation [5].

Financial Data and Key Metrics Changes - The company has a long-term view on inflation and interest rates, expecting them to remain higher for longer, which aligns with historical trends [4][5][9] - The company has $116 billion of dry powder available for investment, indicating strong capital reserves for future opportunities [7] Business Line Data and Key Metrics Changes - The private equity portfolio is marked at over 60% at more than 1.5 times the cost, while public names are marked at an average of four times the cost, reflecting strong performance [18][19] - The company has been actively exiting investments, including sales in Japan and infrastructure, contributing to a mature portfolio [19] Market Data and Key Metrics Changes - More than 70% of the company's deployment in infrastructure over the last five years has been outside the United States, showcasing a global investment strategy [34] - The company has seen a shift in investor sentiment, with a more balanced approach to global allocations, particularly towards Europe and Asia [36] Company Strategy and Development Direction - The company is focusing on building portfolios that can navigate different economic cycles, emphasizing long-term investments [15][16] - Strategic holdings have been introduced to capture lower-risk, attractive reward investments, diversifying the company's offerings [23][25] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the realization outlook, citing a strong pipeline of realizations and a disciplined investment approach [15][21] - The company does not foresee significant stress in its portfolios despite macroeconomic concerns, indicating confidence in its investment strategy [12][14] Other Important Information - The company is expanding its product offerings for high-net-worth individuals through partnerships, aiming to capture a larger share of the market [45][49] - The insurance segment is expected to see growth in earnings as the business model transitions and third-party capital is raised [92][93] Q&A Session Summary Question: What is the company's view on inflation and economic growth? - The company expects inflation and interest rates to remain higher for longer, which is consistent with historical trends [4][5] Question: How is the company managing its portfolio amidst macroeconomic concerns? - The company has not seen significant stress in its portfolios and feels confident due to its portfolio construction and historical experience with economic cycles [12][14] Question: What is the outlook for the company's strategic holdings? - The strategic holdings segment is designed to capture lower-risk investments with attractive returns, and the company is optimistic about its growth potential [23][25] Question: How is the company addressing client demand for alternative products? - The company is seeing significant adoption of its alternative products and is expanding its offerings to cater to high-net-worth individuals [38][45] Question: What is the company's strategy regarding direct lending and asset-based finance? - The company is actively involved in both direct lending and asset-based finance, with a focus on scaling third-party business alongside its own insurance growth [76][80]

作者 I 吴琼 报道 I 投资界PEdaily 正逢美股财报季，PE巨头们陆续交出最新成绩单。黑石今年一季度，黑石资金流入规模 达到620亿美元，创下近三年来最高水平。由此，黑石手中已经准备1 7 7 0亿美元。 无独有偶，KKR、凯雷同样宣布，已备好 数百亿美元可投资金。值得一提的是，仅仅是 在美国开始实施关税政策的一个月内，KKR宣布了超100亿美元投资。 此时此刻，动荡情绪笼罩全球。黑石董事长兼首席执行官苏世民却认为："投资的最佳时 机是市场避险情绪浓厚时。" 风向标。 PE埋头扫货 出手序幕拉开。 据KKR首席财务官Ro b Lewi n在财报会议上介绍，今年以来，KKR已完成或承诺完成价 值超过300亿美元的新投资，接近去年上半年总投资额，是KKR历史上投资额最高的季 度之一。 当中最为轰动的一笔当属收购日本软件开发商富士软件。今年3月，KKR宣布与富士软 件创始家族签署谅解备忘录，将收购富士软件1 0 0%的股份，估值达41亿美元（约合295 亿元人民币）。 "波动带来机遇，而公司的全球性和连通性让我们受益匪浅。"前不久，KKR还在中东新 成立一支投资团队，进一步探索该地区的投资和合作机会。在星巴 ...