Investment Q&A

KKR reported very solid numbers in the most recent earnings, AUM continues to grow at a healthy pace around 16% to the total AUM of $601B. KKR also reported very strong adjusted net income (ANI), up 49% compared to the same quarter last year, the ANI in the trailing-twelve-month is $3.93. Given the very solid growth, KKR is trading at an attractive multiple of 20x Forward P/E. We think KKR is a very high-quality asset manager name, the company is optimized for long-term compounding and reinvestments, compared to the capital-light dividend growth approach of other names like BX, BAM, or ARES. In the most recent Investor Day, KKR expects the AUM will continue to grow strongly by double-digit over the next few years, we remain bullish on KKR’s prospects from here.