KKR Targets $1 Trillion of Assets Under Management in Five Years
(Bloomberg) -- KKR & Co. laid out a plan to scale its core businesses as it aims to reach at least $1 trillion of assets under management in five years.
The firm intends to build on its existing asset management, insurance and strategic holdings units to reach that milestone, it said in an investor presentation Wednesday ahead of its investor day in New York. KKR also seeks to generate annual adjusted net income of more than $15 a share within a decade.
KKR, founded in 1976 by Henry Kravis, Jerome Kohlberg and George Roberts, has grown beyond its private equity roots into an alternative-asset management giant with strategies including buyouts, credit, infrastructure, real estate and insurance. The firm oversaw $553 billion of assets at the end of last year, when it posted adjusted net income of $3.42 a share.
Shares of KKR gained 21% this year through Tuesday, outperforming publicly traded peers including Blackstone Inc., Apollo Global Management Inc. and Carlyle Group Inc.Â
At its last investor day in April 2021, the firm touted its goal of raising more than $100 billion by 2022. It had $252 billion of assets under management at the time.
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