KKR - Why KKR Stock Rallied 10.5% in May
2024-06-10 08:10:00 ET
Shares of KKR (NYSE: KKR) jumped 10.5% in May, according to data provided by S&P Global Market Intelligence . The private equity giant had a busy month, reporting its first-quarter results and securing several new strategic partnerships.
KKR reported strong first-quarter results in early May. The private equity giant delivered 20%+ growth in its fee-related earnings, total operating earnings, and adjusted net income. It also grew its assets under management (AUM) by 13% to $578 million, raising an impressive $31 billion of new capital in the quarter.
KKR also formed several new strategic partnerships last month. For example, it signed a strategic joint venture with healthcare real estate investment trust (REIT) Healthcare Realty (NYSE: HR) to jointly own and invest in medical outpatient buildings. The REIT will contribute 12 existing properties worth $383 million. Healthcare Realty will receive $300 million and own a 20% stake in the joint venture.
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Why KKR Stock Rallied 10.5% in May