KKR & Co. Inc. (KKR): A Bull Case Theory

We came across a bullish thesis on KKR & Co. Inc. on Stock Analysis Compilation’s Substack. In this article, we will summarize the bulls’ thesis on KKRz. KKR & Co. Inc.'s share was trading at $144.97 as of July 22^nd. KKR’s trailing and forward P/E were 62.49 and 27.78, respectively according to Yahoo Finance.

KKR is strategically positioned to benefit from a revival in deal activity, supported by $116 billion in dry powder, strong fundraising momentum, and growing Adjusted Net Income (ANI). The global buyout market holds around 30,000 companies valued at $3.6 trillion, with half held for more than five years, creating pent-up demand for realizations estimated at $1.8 trillion.

According to Hugh MacArthur, chairman of Bain & Company’s global Private Equity practice, stable macro conditions will trigger a surge in dealmaking. Signs of stabilization appeared in late 2024 and improved into early 2025, though tariff negotiations temporarily slowed momentum. The eventual easing of these disruptions is expected to catalyze realizations and return capital to allocators. KKR, with $664 billion in assets under management and a robust capital deployment record of $101 billion in the last year against $114 billion raised, remains well placed to capitalize on market dislocations.

Its dry powder represents 17% of AUM, providing flexibility to invest opportunistically, as demonstrated by its timely acquisition of annuity provider Global Atlantic during the COVID-19 crisis. ANI, a key earnings measure, rose 37% over the past year to $4.4 billion ($4.88 per share), underscoring operational strength and visibility toward management’s target of $15.00 per share by 2034.

As realizations recover and capital markets reopen, KKR is poised to deploy capital into a more favorable environment, unlocking substantial value for stakeholders. The combination of abundant liquidity, resilient earnings growth, and a supportive market backdrop positions KKR to lead in the next phase of private equity dealmaking.

Previously, we covered a bullish thesis on Brookfield Corporation (BN) by 310 Value in April 2025, highlighting its undervaluation versus peers due to structural complexity despite strong perpetual capital and earnings. The stock has appreciated about 30.31% since then as the thesis partially played out. The thesis still stands as valuation remains below intrinsic estimates. Stock Analysis Compilation shares a similar view on KKR, stressing its capital deployment readiness and earnings momentum.

KKR & Co. Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 88 hedge fund portfolios held KKRz at the end of the first quarter which was 83 in the previous quarter. While we acknowledge the potential of KKRz as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

KKR & Co. Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 88 hedge fund portfolios held KKRz at the end of the first quarter which was 83 in the