KKR Q2 net income falls to $472 million; fee-related earnings rise 17%
KKR reported second-quarter 2025 results on July 31, 2025. GAAP net income attributable to KKR common stockholders fell to $472.4 million from $667.9 million a year earlier, and diluted EPS fell to $0.50 from $0.72, while total revenues rose to $5.09 billion from $4.17 billion and fee-related earnings, adjusted net income and assets under management all grew. The mix of lower GAAP profit and higher adjusted and fee-based measures is the key point for shareholders.
Key points
- GAAP net income attributable to KKR common stockholders was $472.4 million in Q2 2025, versus $667.9 million in Q2 2024; diluted EPS was $0.50 versus $0.72.
- Total revenues rose to $5.09 billion from $4.17 billion year over year.
- Fee Related Earnings were $887 million ($0.98 per adjusted share), up 17%; adjusted net income was $1.1 billion ($1.18 per adjusted share), up 9%.
- Assets under management reached $686 billion, up 14% year over year; a majority stake in HealthCare Royalty Partners closed on July 30, 2025, adding about $3 billion of AUM. The board declared a regular dividend of $0.185 per share.
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 31, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.