Q1 2025 KKR & Co Inc Earnings Call Transcript
Key Points
- KKR & Co Inc (KKR) reported a strong increase in fee-related earnings per share, up 22% year over year, reflecting a robust business model.
- The company raised $31 billion in new capital during Q1, with significant contributions from its North America Private Equity strategy.
- KKR's private equity portfolio showed solid performance, up 4% in the quarter and 11% over the last 12 months.
- The firm increased its dividend for the sixth consecutive year, demonstrating a commitment to returning value to shareholders.
- KKR's insurance segment operating earnings were in line with expectations, and the Strategic Holdings segment showed growth with new acquisitions.
- The impact of tariffs and supply chain issues remains a concern, although KKR believes it is well-positioned to manage these challenges.
- Volatility in the market could affect monetization opportunities, although KKR remains optimistic about its mature portfolio.
- Fundraising efforts may face challenges due to evolving market conditions, although no changes to targets have been made yet.
- The insurance segment's operating earnings are expected to remain flat in the near term, despite ongoing portfolio repositioning.
- There is uncertainty about the broader economic impact of tariffs and potential second or third order effects on the portfolio.
Ladies and gentlemen, thank you for standing by. Welcome to KKR's first quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded. I will now 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 first quarter 2025 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 events or performance. Please refer to our earnings release and our SEC filings for cautionary factors
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