The following is a summary of the KKR & Co. Inc. (KKR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Fee-related earnings (FRE) exceeded $1 billion for the first time in Q3, reaching $1.12 per share, a 32% increase from the previous quarter.

• Adjusted Net Income (ANI) per share was $1.38, marking a 57% year-over-year increase and representing the second highest quarterly figure in KKR's history.

• Total operating earnings were $1.47 per share in Q3, a record quarter and an increase of 25% from the previous quarter.

• Investment performance remains strong, with notable increases in gross unrealized carried interest, which rose by 11% from the previous quarter and 42% year-over-year.

• Raised $87 billion of new capital year-to-date, more than double the amount from the same period in 2023.

• Deployed $61 billion year-to-date, more than double the investment activity reported over the first 9 months of 2023.

Business Progress:

• KKR has been actively expanding its infrastructure and credit market footprints, with significant achievements in fundraising, deployment, and capital market activities.

Opportunities:

• KKR sees a significant long-term opportunity for growth, particularly in climate strategies, wealth management, and entering the 401k market.

• Opportunities in Japan and other parts of Asia were highlighted, underlining KKR's strength and confidence in these markets.

Risks:

• The trajectory of net dividends from strategic holdings and the dependability of capital market conditions are areas with potential risks impacting expected earnings forecasts.

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