KKR Credit Fuels Best Fundraise Since 2021 as Profits Rise (1)

KKR & Co. reported its best fundraising quarter in more than four years, driven by record demand for its credit products, as earnings topped Wall Street expectations.

KKR shares rose 3.93% in premarket trading to $124 at 7:42 a.m. in New York.

The buyout firm gathered $43 billion during the three months through September, including $27 billion for its credit business, according to a statement Friday. KKR’s Global Atlantic insurance unit, collateralized loan obligation issuance and its high grade and asset-based finance groups fueled the credit results.

Assets under management rose 16% to $723 billion.

KKR and other alternative ...