KKR & Co. Inc. reported net income attributable to common stockholders of $859.9 million, or $0.97 per basic share and $0.90 per diluted share, for the three months ended September 30, 2025. This compares to a net income of $600.6 million, or $0.68 per basic share and $0.64 per diluted share, for the same period in 2024. Total revenues for the quarter were $5.53 billion, up from $4.79 billion in the prior year. The increase in revenues was primarily driven by higher net investment income within the insurance segment, partially offset by lower capital allocation-based income in the asset management segment.
The company's assets under management (AUM) reached $723.2 billion as of September 30, 2025, an increase from $685.8 billion at the end of the previous quarter. Fee-paying AUM also increased to $585.0 billion from $556.2 billion in the same period. This growth was fueled by new capital raised across various strategies, including private equity, real assets, and credit, as well as the acquisition of HealthCare Royalty Management, LLC. Uncalled commitments stood at $125.8 billion, providing a substantial base for future investment activity.
Strategic developments during the quarter included the acquisition of HealthCare Royalty Management, LLC, which added approximately $3 billion in AUM. KKR also continued to execute its share repurchase program, although no shares were repurchased during the three months ended September 30, 2025. The company's insurance segment, Global Atlantic, saw growth in new business volumes, particularly in flow reinsurance and funding agreements.
Looking ahead, KKR anticipates realizing performance income and investment income of at least $800 million between the fourth quarter of 2025 and the first quarter of 2026. However, this expectation is subject to market conditions and the completion of pending transactions. The company also declared a dividend of $0.185 per share of common stock, payable on December 2, 2025, to stockholders of record as of November 17, 2025.
About KKR & Co. Inc.
KKR & Co. is a global investment firm specializing in alternative asset management, including private equity, credit, real assets, and infrastructure. It manages funds that invest in industry-leading companies across various sectors worldwide, generating returns through management fees, incentive fees, and carried interest. Its insurance subsidiary, Global Atlantic, offers retirement, life, and reinsurance products, serving individual and institutional clients.
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