KKR Boosts Earnings Forecast for Its Long-Term PE Bets (2)

KKR & Co. raised its forecast for earnings from long-term private equity wagers and announced that it will increase its ownership in three investments.

The firm is boosting its stake in USI Insurance Services, 1-800 Contacts and Heartland Dental by a total of about $1.1 billion, KKR said Tuesday in a statement disclosing fourth-quarter results.

That will lift operating earnings at its strategic holdings unit by $50 million to at least $350 million next year and by at least $100 million annually to $1.1 billion by 2030, the alternative asset manager said.

Taking a cue from the business model of ...