KKR & Co reported record third-quarter earnings on 9 November 2026, with adjusted net income rising 29% from a year earlier to $1.65 billion, or $1.78 per adjusted share. The figure beat the $1.58 consensus estimate compiled by Zacks, and the firm said the result was a quarterly record. Fee-related earnings, the profit KKR makes from management fees, also hit a record at $1.32 billion, up 27% year on year.

Assets pass $800 billion

Assets under management reached $804.4 billion at the end of September, up 11% from a year earlier, as the firm raised $25 billion of fresh capital during the quarter. Total operating earnings rose 25% to $1.74 billion. On a GAAP basis, net income attributable to common stockholders increased to $1.12 billion, or $1.19 per diluted share, from $860 million, or $0.90, in the same quarter of 2025. KKR shares rose 1.7% after the results were released, according to Zacks.

USI sale and client returns

KKR said it expects to return more than $40 billion to clients across 2026, which would beat its previous annual record by more than 50%. The firm also expects its planned sale of USI Insurance Services to close before the end of the year, adding about $2 billion of adjusted net income. KKR spent $567 million buying back 6.2 million of its own shares between 30 June and 4 November. The results show the firm's core asset management business continuing to expand even as its insurance arm weighed on the quarter, according to Pulse 2.