Q4 2024 KKR & Co Inc Earnings Call Transcript
Key Points
- KKR & Co Inc (KKR) reported a significant increase in fee-related earnings per share, up 24% year over year, marking the second highest quarterly figure in their history.
- The company achieved record annual figures for fee-related earnings per share and adjusted net income per share, with increases of 37% and 38% respectively compared to 2023.
- KKR & Co Inc (KKR) raised $114 billion in new capital for 2024, marking the second most active year in their history, driven by diversified activity across business lines.
- The company plans to increase its annual dividend from $0.70 to $0.74 per share, reflecting confidence in future performance.
- KKR & Co Inc (KKR) reported strong investment performance with a 14% appreciation in their private equity portfolio for the year and significant growth in their infrastructure and credit segments.
- Despite strong performance, KKR & Co Inc (KKR) acknowledged that they are not yet operating at their full potential, indicating room for improvement.
- The company noted that the market conditions in 2024 were not fully favorable, with intermittent challenges affecting deployment, monetization, and fundraising.
- KKR & Co Inc (KKR) highlighted potential risks such as political, geopolitical, inflation, and interest rate changes that could impact future performance.
- The company is experiencing subdued accounting P&L due to a strategic shift towards longer-dated liabilities and more private market assets, which may affect short-term financial results.
- KKR & Co Inc (KKR) faces challenges in the monetization environment, with expectations of increased activity in 2025 contingent on a relatively benign market environment.
Ladies and gentlemen, thank you for standing by. Welcome to KKR's fourth-quarter 2024 earnings conference call. (Operator Instructions)
As a reminder, this conference is being recorded. I would now like to hand the call over to Craig Larson, Partner and Head of Investor Relations for KKR. Craig, please go ahead.
Thank you, operator. Good morning, everyone. Welcome to our fourth quarter 2024 earnings call. This morning, as usual, I'm joined by Rob Lewin, our Chief Financial Officer; and Scott Nuttall, our Co-Chief Executive Officer.
We would like to remind everyone that we'll refer to non-GAAP measures on the call, which are reconciled to GAAP figures in our press release, which is available on the Investor Center section at kkr.com. And as a reminder, we report our segment numbers on an adjusted share basis.
This call will contain forward-looking statements, which do not guarantee future eventual performance. Please refer to our earnings release and our SEC filings for cautionary factors
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