Global investment firm KKR has reported record third-quarter adjusted net income of $1.6bn, up 29% year-on-year, driven by increased asset disposals and management fees, according to a report by Reuters.

Adjusted earnings reached $1.78 per share, exceeding analysts' expectations of $1.59, while fee-related earnings rose 27% to $1.3bn. KKR raised $25bn in fresh capital during the quarter, pushing assets under management above $800bn, with inflows primarily driven by credit, liquid strategies and real assets.

The firm reportedly expects to return more than $40bn to investors in 2026, over 50% above its previous annual record. Recent exits include data centre cooling specialist CoolIT Systems and aviation infrastructure platform Atlantic Aviation, while the pending $17bn sale of USI Insurance Services to Aon is expected to contribute approximately $2bn to adjusted profit in the fourth quarter.

KKR's infrastructure portfolio generated a 4% gross return during the quarter, while traditional private equity performance was flat. Leveraged credit and alternative credit returned 1% and 3%, respectively. The firm is targeting more than $1tn in AUM by 2030, supported by continued expansion across credit, infrastructure and other alternative asset classes.