KKR Capital Markets Unit Reports Record $1 Billion of Fees

KKR & Co.’s business of arranging financing for its portfolio companies and other firms reported record annual fees last year, driven by growth in structured-credit transactions.

The capital markets unit, led by Adam Smith, booked $1 billion of fees for 2024, up from $577.6 million a year earlier, the alternative asset manager said in a statement Tuesday, when it reported fourth-quarter results.

That includes $131 million of loans originated for companies not owned by KKR and $139 million for structured-capital transactions, which include financing backed by assets, according to a person with knowledge of the matter.

“It’s part ...