KKR (KKR) 2025 Earnings Call Presentation

KKR Capital Markets Overview - KKR Capital Markets (KCM) offers full-service capabilities for both KKR companies and third-party clients[9] - KCM has cumulatively raised over $2 trillion in debt and equity ITD[9, 13] - KCM has earned over $6 billion in fees cumulatively ITD[9] - KCM has closed approximately 2,500 transactions ITD[9] Business Evolution and Revenue - KKR has evolved from a traditional private equity orientation to a diversified platform[14] - KKR's annual transaction fee revenue has grown significantly, reaching $1.115 billion in 2024[15] - Average annual revenue was $170 million from 2012-2015 and $701 million from 2020-2024[17] - Approximately 67% of cumulative transaction fees are debt product focused[17] Growth and Opportunities - KKR has embedded growth as the firm grows and has generated over $1 billion of fees from third-party opportunities so far[21, 24] - Global Atlantic related capital markets transaction fees were approximately $50 million in 2024 and ~$20 million in 1Q'25[28]