KKR & Co. said Tuesday that its assets under management as of Sept. 30 totaled $459 billion, a 7% increase from June 30, and a 96% jump from a year earlier.
Private market assets amounted to $248 billion at the end of the third quarter, an 83% jump from the end of the third quarter of 2020; while public market assets totaled $211 billion as of Sept. 30, a 116% year-over-year increase.
KKR said it posted diluted net income of $1.80 per share in the third quarter, vs. $2.05 in the second quarter and $1.79 in the third quarter of 2020, according to an earnings release.
Fee-related earnings amounted to $530 million in the third quarter, a 12.6% increase from the previous quarter and a 63.4% surge from the year-earlier quarter, according to the release.
KKR recorded total revenues of $4.48 billion in the third quarter, a 136% jump from the third quarter of 2020. The latest third-quarter revenue figure was boosted by insurance segment revenues of $2.24 billion, the release said.
Management fees totaled $559 million in the third quarter, a 51.3% jump from the year-ago quarter. KKR attributed the increase in fees to "record fundraising activity."