NEW YORK - Global investment firm KKR, a $138.8 billion market cap powerhouse that has delivered an impressive 91.8% return year-to-date, has announced the promotion of 41 individuals to the role of Managing Director, with the promotions set to take effect on January 1, 2025. The announcement, made today, highlights KKR's commitment to recognizing its leaders' professional achievements and their dedication to the firm's values and stakeholders. According to InvestingPro, KKR maintains a strong financial health score, reflecting its robust operational performance and market position.
The newly promoted Managing Directors come from various departments within KKR, including Compliance, Infrastructure, Global Operations, Client Solutions, Communications, Marketing, Credit, Markets, Legal, Investor Relations, Real Estate Credit, Global Macro (BCBA:BMAm), Risk, Health Care, Private Equity, and Capstone. These individuals are based across the firm's global offices, from New York, Dublin, and London to Singapore, Sydney, Hong Kong, Mumbai, San Francisco, Chicago, Miami, Washington D.C., and Frankfurt.
Co-Chief Executive Officers of KKR, Joe Bae and Scott Nuttall, expressed their congratulations to the new Managing Directors, acknowledging the significant milestone in their careers and the firm's culture of promoting leadership and client-focused performance.
KKR, known for its diversified services including alternative asset management, capital markets, and insurance solutions, operates on a model that emphasizes a patient and disciplined investment approach. The firm manages investments across private equity, credit, real assets, and it also has strategic partners managing hedge funds. With revenue growth of 82% in the last twelve months and a substantial $27.8 billion in revenue, KKR has established itself as a prominent player in the Capital Markets industry. KKR's insurance subsidiaries, under the umbrella of Global Atlantic Financial Group, provide retirement, life, and reinsurance products. For detailed analysis and additional insights, investors can access comprehensive research reports on InvestingPro, which covers over 1,400 US stocks including KKR.
The promotions are a reflection of KKR's ongoing growth and its strategy to invest in its talent to support the firm's expansive portfolio of companies and communities. The action aligns with KKR's broader business objectives to foster a culture of excellence and to continue delivering attractive investment returns.
This announcement is based on a press release statement from KKR and does not include any additional analysis or opinion. The information provided is a factual representation of the company's internal advancements and does not imply any broader industry trends or impacts. Currently trading at a P/E ratio of 46.5, KKR's stock is valued above its InvestingPro Fair Value, with 16 additional ProTips available to subscribers regarding the company's valuation, growth prospects, and market position.
In other recent news, global investment firm KKR and Energy Capital Partners (WA:CPAP) (ECP) have announced a $50 billion strategic partnership aimed at supporting the rapidly expanding artificial intelligence and cloud computing sectors. The collaboration will facilitate the development of data center, power generation, and transmission infrastructure. KKR will finance this initiative through its infrastructure, real estate strategies, and managed insurance accounts, while ECP will contribute through its existing and future infrastructure capital pools.
In terms of financial performance, KKR reported a strong third quarter, with record fee-related earnings surpassing $1 billion, a 32% increase from the previous quarter. Adjusted net income per share also rose to $1.38, marking a 50% year-over-year growth. The investment firm raised $87 billion in new capital this year, more than double the amount in the same period of 2023.
Evercore ISI recently upgraded KKR's price target to $158.00 from $145.00, reflecting confidence in the firm's growth prospects. This decision was influenced by robust investment performance, an increase in unrealized carry and embedded balance sheet gains, and strong fundraising activities. These recent developments underscore KKR's strong momentum in proprietary origination and fundraising, with a total addressable market projected to grow from $5 trillion to $7 trillion.
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