KKR reports record fundraising and higher management fees for the fourth quarter
KKR reported a 24 percent jump in management fees as it raised a record $129 billion in 2025. A one-off charge for an Asian fund weighed on quarterly profits.
Insights:
KKR & Co. Inc. reported its fourth-quarter results today, revealing a 24 percent increase in management fees alongside a 16.6 percent decline in transaction fees. These results, which reflect the firm's operations in the US 
US and its activities in markets such as IN 
IN, were also impacted by a one-off charge that reduced adjusted net income. The shift in the fee mix and the specific charge materially affected the reported profitability of KKR & Co. Inc. during the period.
US and its activities in markets such as IN IN, were also impacted by a one-off charge that reduced adjusted net income. The shift in the fee mix and the specific charge materially affected the reported profitability of KKR & Co. Inc. during the period.The increase in management fees was primarily driven by a record year of fundraising, with KKR & Co. Inc. raising $129 billion in new capital throughout 2025. This brought the firm's total assets under management to $744 billion. These large-scale fundraising flows were largely directed into the KKR credit business and the KKR insurance business, distinguishing the firm's recent growth trajectory from that of peers such as Blackstone Inc. .
