KKR profit leaps as private equity deals flourish

Fees from managing money, which KKR earns regardless of how investments perform, jumped 25.5% to $1.25 billion. Adjusted net income of $1.63 per share comfortably beat a $1.41 estimate from an LSEG analyst poll.

Inflows of $34 billion was driven by the real assets business that houses KKR's infrastructure strategies. Private equity brought in $9.56 billion.

A total $9.1 billion to credit was a roughly 36% slump from a year ago. But Nuttall said he expects a record year for fundraising in credit, which remains the biggest chunk of its $796 billion under management.

Net realized performance income, which reflects profits from divestments and is known as carried interest, almost doubled from the previous year to $211.9 million.

The traditional private equity portfolio returned a gross 4%, while composites for leveraged credit and private credit showed returns of 2% and 1%, respectively, having been negative in the previous quarter.