KKR
Overview
KKR is a global alternatives leader managing $686 billion as of mid-2025—up 14% year over year, with fee-paying AUM of $556 billion and perpetual capital approaching $289 billion, or roughly 42% of the firm. It reaches real estate investors through funds and the KKR Real Estate Select Trust (KREST), a non-traded REIT, spanning both equity and credit, and it benefits from the balance-sheet heft of its Global Atlantic insurance arm. For exchangers, the appeal is institutional scale and a fast-growing perpetual-capital base; real estate DSTs are a small expression of the broader platform.
Strategy & advantages
- Manages $686 billion, up 14% year over year, with fee-paying AUM of $556 billion.
- Reaches real estate investors through the KKR Real Estate Select Trust (KREST).
- Operates across both real estate equity and credit.
- Backed by the Global Atlantic insurance balance sheet, supplying permanent capital.
- Perpetual capital approaching $289 billion (~42% of the firm) is its fastest-growing base.
Important disclosures. Sponsor information and performance metrics are sponsor-reported and compiled by Baker 1031 from sponsor and public sources; they have not been independently verified and are subject to change. Full-cycle returns, equity multiples, hold periods, and success rates reflect realized programs only (survivorship bias), are averaged across differing assets, vintages, and structures, are net of fees and program expenses, and are not indicative of future results and not a recommendation. Designation as a preferred sponsor reflects Baker’s due-diligence coverage, not an endorsement or guarantee. For accredited investors only; not an offer or solicitation. Securities offered through Aurora Securities, Inc. (ASI), member FINRA/SIPC; subject to registered-principal approval.