KKR announced an intra-quarter update showing income from monetization activity in excess of $900 million for the period from March 31, 2026, through June 24, 2026, based on currently available information.
The quarter-to-date monetization activity comprises approximately 80% realized performance income and approximately 20% realized investment income.
KKR said it has experienced an acceleration in monetization activity year to date, which has also led to an acceleration in capital returned to clients.
In the first quarter of 2026, KKR reported $878 million in monetization activity. That represented a 62% increase compared to the quarterly average of $542 million from 2023 through 2025.
The company noted that $900 million would represent a 66% increase over the same three-year quarterly average.
Starting with its second-quarter 2026 reporting, KKR will report realized performance fees from its K-Series Private Equity vehicles in Fee Related Performance Revenues within segment earnings. These fees will be subject to a 15% to 20% Fee Related Compensation margin.
Historically, those fees were included within Realized Performance Income and were subject to a 70% to 80% compensation margin. KKR said the change aligns with current industry practice and improves comparability for investors.
Performance fees from KKR’s K-Series Infrastructure vehicles will continue to be reported in Fee Related Performance Revenues.
KKR also said it expects Capital Markets transaction fees for the second quarter of 2026 to be approximately $175 million. The company said certain transaction activity that had been expected to close in late Q2 2026 is now expected to close in Q3 2026.
KKR emphasized that the monetization estimate is not intended to predict or represent total realized performance income, total realized investment income, or total revenues for the full quarter ending June 30, 2026. The estimate does not include the results or impact of other sources of income, including fee income, or expenses.
