Business Segments · Unrealized Carried Interest
Asset Management — Unrealized Carried Interest
KKR & Co. Asset Management — Unrealized Carried Interest increased by 1268.1% to $2.75B in Q4 2025 compared to the prior quarter. Over 4 years (FY 2021 to FY 2025), Asset Management — Unrealized Carried Interest shows an upward trend with a -14.7% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
StatementSegment
CategoryGrowth
SignalHigher is better
VolatilityVolatile
First reportedQ1 2019
Last reportedQ4 2025
How to read this metric
Growth in this metric suggests strong fund performance and a pipeline for future realized performance income.
Detailed definition
This represents the firm's share of profits from investment funds that have been earned based on current valuations but...
Peer comparison
A standard metric for alternative asset managers; peers report this as a key component of 'accrued' performance fees.
Metric ID:
kkr_segment_asset_management_unrealized_carried_interestHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | -$851.98M | -$911.16M | -$170.99M | $1.29B | $1.56B | $1.09B | $285.18M | -$202.66M | -$435.50M | -$616.96M | -$401.86M | -$946.82M | -$190.14M | -$850.64M | $0.00 | -$807.71M | $429.91M | -$235.80M | $2.75B |
| QoQ Change | — | -6.9% | +81.2% | +854.5% | +21.0% | -29.9% | -74.0% | -171.1% | -114.9% | -41.7% | +34.9% | -135.6% | +79.9% | -347.4% | +100.0% | — | +153.2% | -154.8% | >999% |
| YoY Change | — | — | — | — | +283.3% | +220.2% | +266.8% | -115.7% | -127.9% | -156.4% | -240.9% | -367.2% | +56.3% | -37.9% | +100.0% | +14.7% | +326.1% | +72.3% | — |
Range-$946.82M – $2.75B
CAGR+29.8%
Avg YoY Growth+21.0%
Median YoY Growth+35.5%
Similar Metrics at Other Companies
Frequently Asked Questions
- What is KKR & Co.'s asset management — unrealized carried interest?
- KKR & Co. (KKR) reported asset management — unrealized carried interest of $2.75B in Q4 2025.
- What is the long-term trend for KKR & Co.'s asset management — unrealized carried interest?
- Over 4 years (2021 to 2025), KKR & Co.'s asset management — unrealized carried interest has grown at a -14.7% compound annual growth rate (CAGR), from -$4.04B to $2.14B.
- What does asset management — unrealized carried interest mean?
- The value of performance fees earned on paper but not yet paid out in cash.