--- title: "KKR | 10-K: FY2025 Revenue: USD 19.46 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/277252069.md" datetime: "2026-02-27T21:43:50.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277252069.md) - [en](https://longbridge.com/en/news/277252069.md) - [zh-HK](https://longbridge.com/zh-HK/news/277252069.md) --- # KKR | 10-K: FY2025 Revenue: USD 19.46 B Revenue: As of FY2025, the actual value is USD 19.46 B. EPS: As of FY2025, the actual value is USD 2.34. EBIT: As of FY2025, the actual value is USD 47.07 M. ### Overall Company Metrics KKR & Co. Inc. reported Assets Under Management (AUM) of $744 billion as of December 31, 2025, with $219 billion attributed to Global Atlantic. The company employs approximately 4,200 individuals globally, with about 2,700 in Asset Management, 1,500 in Insurance, and an additional 800 in subsidiary organizations. KKR & Co. Inc. maintains a global presence with 36 offices across four continents. Approximately $30 billion was invested in or committed to KKR & Co. Inc.’s own funds and portfolio companies as of December 31, 2025, comprising $15 billion funded from the balance sheet, $10 billion of additional capital committed by the balance sheet, $4 billion funded from personal investments, and $1 billion of additional capital commitments from personal investments. About 92% of AUM represents long-duration capital with a duration of at least eight years at inception or longer, including perpetual capital. ### Asset Management Segment #### Private Equity Business Line - **AUM**: $229 billion in 2025, an increase from $195 billion in 2024, $176 billion in 2023, $165 billion in 2022, and $174 billion in 2021. - **Fee Paying Assets Under Management (FPAUM)**: $151 billion in 2025, up from $120 billion in 2024, $108 billion in 2023, $102 billion in 2022, and $88 billion in 2021. - **New Capital Raised (AUM)**: $27 billion in 2025, compared to $18 billion in 2024, $7 billion in 2023, $18 billion in 2022, and $44 billion in 2021. - **Capital Invested**: $24 billion in 2025, following $17 billion in 2024, $14 billion in 2023, $19 billion in 2022, and $18 billion in 2021. - **Management Fees**: $1,529 million in 2025, an increase from $1,376 million in 2024, $1,286 million in 2023, $1,188 million in 2022, and $967 million in 2021. - **Strategy-Specific AUM (2025)**: Traditional Private Equity accounted for $167 billion, Core Private Equity for $41 billion, and Growth Equity for $21 billion. #### Real Assets Business Line - **AUM**: $192 billion in 2025, an increase from $166 billion in 2024, $131 billion in 2023, $119 billion in 2022, and $83 billion in 2021. - **FPAUM**: $163 billion in 2025, up from $140 billion in 2024, $112 billion in 2023, $104 billion in 2022, and $67 billion in 2021. - **New Capital Raised (AUM)**: $34 billion in 2025, compared to $40 billion in 2024, $16 billion in 2023, $29 billion in 2022, and $39 billion in 2021. - **Capital Invested**: $27 billion in 2025, following $28 billion in 2024, $15 billion in 2023, $28 billion in 2022, and $21 billion in 2021. - **Management Fees**: $1,301 million in 2025, an increase from $993 million in 2024, $826 million in 2023, $680 million in 2022, and $437 million in 2021. - **Strategy-Specific AUM (2025)**: Infrastructure was $100 billion, Real Estate was $86 billion (including $45 billion in real estate credit and $41 billion in real estate equity), and Energy was $6 billion. #### Credit and Liquid Strategies Business Line - **AUM**: $322 billion in 2025, an increase from $276 billion in 2024, $245 billion in 2023, $220 billion in 2022, and $214 billion in 2021. - **FPAUM**: $289 billion in 2025, up from $253 billion in 2024, $226 billion in 2023, $206 billion in 2022, and $203 billion in 2021. - **New Capital Raised (AUM)**: $68 billion in 2025, compared to $56 billion in 2024, $47 billion in 2023, $34 billion in 2022, and $37 billion in 2021. - **Capital Invested**: $44 billion in 2025, following $39 billion in 2024, $15 billion in 2023, $25 billion in 2022, and $34 billion in 2021. - **Management Fees**: $1,271 million in 2025, an increase from $1,092 million in 2024, $919 million in 2023, $788 million in 2022, and $667 million in 2021. - **Strategy-Specific AUM (2025)**: Leveraged Credit was $145 billion, Alternative Credit was $135 billion (including $85 billion in Asset-Based Finance and $50 billion in Corporate Credit), Strategic Investments Group (SIG) was $8 billion, and Liquid Strategies (Hedge Fund Platform) was $34 billion. #### Capital Markets Business Line - **Transaction Fees (2025)**: $930 million, with 65% originating from the Americas, 20% from Europe and the Middle East, and 15% from Asia Pacific. - **Capital Markets Transaction Fees (Historical)**: $930 million in 2025, $757 million in 2024, $490 million in 2023, $184 million in 2022, and $757 million in 2021. #### Principal Activities Business Line This segment is responsible for managing KKR & Co. Inc.’s asset management balance sheet, deploying capital alongside clients and for strategic transactions. ### Insurance Segment (Global Atlantic) - **AUM**: $219 billion in 2025, an increase from $200 billion in 2024, $176 billion in 2023, $158 billion in 2022, and $123 billion in 2021. - **FPAUM**: $213 billion in 2025. - **Policyholders**: Serves over 3.5 million policyholders as of December 31, 2025. - **Reserves Composition (2025)**: 41% in individual markets and 59% in institutional markets. - **New Business Volumes (Sales)**: - **Individual Channel**: Retirement Products sales were $12,339 million in 2025, $14,821 million in 2024, $11,138 million in 2023, $9,464 million in 2022, and $7,840 million in 2021. Preneed Life sales were $1,139 million in 2025, $605 million in 2024, $299 million in 2023, $277 million in 2022, and $245 million in 2021. - **Institutional Channel**: Total sales were $20,953 million in 2025, $27,115 million in 2024, $22,622 million in 2023, $18,377 million in 2022, and $26,165 million in 2021. - **Funding Agreements Outstanding**: $8 billion under the FABN program as of December 31, 2025. - **AUM from Global Atlantic sponsored vehicles**: $58 billion as of December 31, 2025. ### Strategic Holdings Segment - **Companies Owned**: Consisted of ownership stakes in 19 companies as of December 31, 2025. - **Pro-rata Portion of LTM Adjusted Revenue**: $4.4 billion as of September 30, 2025. - **Pro-rata Portion of LTM Adjusted EBITDA**: $1.1 billion as of September 30, 2025. ### Outlook / Guidance KKR & Co. Inc. anticipates more stable recurring revenues from growth in dividend payments and earnings from its Strategic Holdings segment, though this is an expectation and not a guarantee of realization or accretion to earnings. The company announced changes to its insurance business management in 2025, aiming for higher and more durable long-term returns by originating longer-duration liabilities and assets, including increased investments in private equity and real assets, international expansion, and raising more third-party co-investment insurance capital. This transition may have potential adverse impacts on financial results in the near- and medium-term, and the acquisition of Arctos Partners, while expanding investment management capabilities, requires compliance with sports league rules that may restrict certain investment opportunities. ### Related Stocks - [KKR.US](https://longbridge.com/en/quote/KKR.US.md) ## Related News & Research - [Private credit fears are spreading. 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