KKR Management

Management criteria checks 3/4

KKR's CEO is Joe Bae, appointed in Oct 2021, has a tenure of 2.5 years. total yearly compensation is $49.96M, comprised of 0.6% salary and 99.4% bonuses, including company stock and options. directly owns 2.07% of the company’s shares, worth $1.80B. The average tenure of the management team and the board of directors is 2.5 years and 6.4 years respectively.

Key information

Joe Bae

Chief executive officer

US$50.0m

Total compensation

CEO salary percentage	0.6%
CEO tenure	2.5yrs
CEO ownership	2.1%
Management average tenure	2.5yrs
Board average tenure	6.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Joe Bae's remuneration changed compared to KKR's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$50m	US$300k	US$4b
Sep 30 2023	n/a	n/a	US$2b
Jun 30 2023	n/a	n/a	US$1b
Mar 31 2023	n/a	n/a	-US$578m
Dec 31 2022	US$80m	US$300k	-US$591m
Sep 30 2022	n/a	n/a	-US$204m
Jun 30 2022	n/a	n/a	US$895m
Mar 31 2022	n/a	n/a	US$3b
Dec 31 2021	US$560m	US$300k	US$5b
Sep 30 2021	n/a	n/a	US$6b
Jun 30 2021	n/a	n/a	US$5b
Mar 31 2021	n/a	n/a	US$5b
Dec 31 2020	US$36m	US$75k	US$2b
Sep 30 2020	n/a	n/a	US$973m
Jun 30 2020	n/a	n/a	US$166m
Mar 31 2020	n/a	n/a	-US$18m
Dec 31 2019	US$35m	US$300k	US$2b
Sep 30 2019	n/a	n/a	US$1b
Jun 30 2019	n/a	n/a	US$1b
Mar 31 2019	n/a	n/a	US$2b
Dec 31 2018	US$36m	US$300k	US$1b
Sep 30 2018	n/a	n/a	US$2b
Jun 30 2018	n/a	n/a	US$1b
Mar 31 2018	n/a	n/a	US$899m
Dec 31 2017	US$144m	US$300k	US$985m

Compensation vs Market: Joe's total compensation ($USD49.96M) is above average for companies of similar size in the US market ($USD13.52M).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.

CEO

Joe Bae (51 yo)

2.5yrs

Tenure

US$49,959,449

Compensation

Mr. Joseph Yong Bae, also known as Joe, serves as the Co-President and Co-Chief Executive Officer at Kohlberg Kravis Roberts & Co. L.P. He serves as Co-Chief Executive Officer of KKR & Co. Inc. since Octob...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
George Roberts	Co-Founder & Executive Co-Chairman	no data	US$35.22m	9.97% $ 8.6b
Henry Kravis	Co-Founder & Executive Co-Chairman	no data	US$35.28m	9.36% $ 8.1b
Joseph Bae	Co-CEO & Director	2.5yrs	US$49.96m	2.07% $ 1.8b
Scott Nuttall	Co-CEO & Director	2.5yrs	US$47.11m	2.38% $ 2.1b
Robert Lewin	Chief Financial Officer	no data	US$25.94m	0.14% $ 118.5m
Dane Holmes	Chief Administrative Officer	less than a year	US$26.66m	0.00096% $ 832.4k
Valeria Rebulla	MD & COO of EMEA	1.1yrs	no data	no data
Ryan Stork	Chief Operating Officer	2.3yrs	no data	no data
Henry McVey	Partner & Head of Global Macro	no data	no data	no data
Emil Werr	Managing Director of Technology	3.3yrs	no data	no data
Ruchir Swarup	Partner & Chief Information Officer	less than a year	no data	no data
Craig Larson	Partner and Head of Investor Relations	12.9yrs	no data	no data

2.5yrs

Average Tenure

51yo

Average Age

Experienced Management: KKR's management team is considered experienced (2.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
George Roberts	Co-Founder & Executive Co-Chairman	no data	US$35.22m	9.97% $ 8.6b
Henry Kravis	Co-Founder & Executive Co-Chairman	no data	US$35.28m	9.36% $ 8.1b
Joseph Bae	Co-CEO & Director	6.8yrs	US$49.96m	2.07% $ 1.8b
Scott Nuttall	Co-CEO & Director	6.8yrs	US$47.11m	2.38% $ 2.1b
David Petraeus	Partner & Chairman of KKR Global Institute	10.9yrs	no data	no data
Patricia Russo	Independent Director	13yrs	US$323.47k	0.0093% $ 8.1m
Arturo Gutierrez Hernandez	Independent Director	3.1yrs	US$309.70k	0.00096% $ 832.4k
Xavier Niel	Independent Director	6.1yrs	US$298.29k	0.0029% $ 2.5m
Mary Dillon	Independent Director	5.6yrs	US$320.72k	0.0026% $ 2.3m
Robert Scully	Independent Director	13.8yrs	US$365.46k	0.019% $ 16.7m
Adriane Brown	Independent Director	2.8yrs	US$309.31k	0.00084% $ 728.3k
Matthew Cohler	Independent Director	2.3yrs	US$327.38k	0.011% $ 9.1m

6.4yrs

Average Tenure

63.5yo

Average Age

Experienced Board: KKR's board of directors are considered experienced (6.4 years average tenure).

KKR Management

Management criteria checks 3/4

Key information

Recent management updates

KKR Appoints Ruchir Swarup as Partner and Chief Information Officer

KKR & Co. Inc. Announces Resignation of Dane Holmes as Board of Directors

KKR Appoints Dane E. Holmes as Chief Administrative Officer, Effective from December 29, 2023

Recent updates

Impilo AB and KKR Health Care Strategic Growth Fund II SCSp managed by KKR & Co. Inc. (NYSE:KKR) agreed to acquire an unknown stake in Immedica Pharma.

KKR & Co. Follows Berkshire Hathaway

NBD Emirates, Mizuho Bank Reportedly Eye KKR’s Stake in Avendus Capital

Engie, Iberdrola and Funds Reportedly Eye Bids for Electricity North West

Blackstone, CVC Reportedly Consider Bids for Superstruct Entertainment

Silver Lake Technology Management, L.L.C. entered into a definitive agreement to acquire remaining 69.615539% stake in Endeavor Group Holdings, Inc. (NYSE:EDR) from Emanuel, Whitesell, Shapiro and others for approximately $7.636 billion.

Mankind Reportedly Joins Race for Healthium Medtech

Novo Holdings Reportedly Joins the Race for Healthium Medtech

KKR & Co. Inc. (NYSE:KKR) signed a definitive agreement to acquire Avantus LLC.

KKR Reportedly Mulls Selling Controlling Stake in Indian School Chain EuroKids International

Sixth Street Partners, LLC, KKR & Co. Inc. (NYSE:KKR), Bayview Asset Management, LLC and CardWorks, Inc. completed the acquisition of GreenSky, Inc. (NasdaqGS:GSKY) from Goldman Sachs Bank USA (New York).

Apollo Reportedly Reached Out to Paramount About Possible Deal

KKR Real Estate Partners Europe II fund managed by KKR & Co. Inc. and Mirastar Real Estate Investment Management Limited acquired 737,000 sq ft Prime Logistics Park in Warrington from Mountpark Logistics Eu S.À R.L.

Funds managed by KKR & Co. Inc. (NYSE:KKR) entered into an arrangement agreement to acquire mdf commerce inc. (TSX:MDF) for approximately CAD 260 million.

KKR: Eyeing SPX Inclusion, Stout EPS Growth Ahead

Carlyle, CVC, KKR Reportedly Show Interest in Potential Takeover of Samsonite

KKR Appoints Ruchir Swarup as Partner and Chief Information Officer

KKR Reportedly Considers Selling Controlling Stake in JB Pharma

Universal Music Group N.V. (ENXTAM:UMG) and Dundee Partners LLP agreed to acquire an unknown majority stake in Chord Music Partners, L.P. from KKR & Co. Inc. (NYSE:KKR).

EQT, TPG and KKR Reportedly Eye Majority Stake in HCG

KKR to Acquire A Stake in Health Tech Firm Cotiviti

KKR to Split RE Sustainability and Sell Industrial Waste Management Business

Fourth quarter dividend of US$0.17 announced

New major risk - Financial position

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target increased by 7.5% to US$101

KKR Global Infrastructure Investors IV, a fund managed by KKR & Co. Inc. (NYSE:KKR) agreed to acquire 1,100 Wireless Communications Towers of Colombia Móvil S.A E.S.P.

SIX Group Reportedly Considers Bid for Allfunds

KKR & Co. Inc. to Report Q4, 2023 Results on Feb 06, 2024

Renesas Electronics Corporation (TSE:6723) entered into a definitive agreement to acquire Transphorm, Inc. (NasdaqCM:TGAN) from KKR Phorm Investors L.P., KKR & Co. Inc. (NYSE:KKR) and others for approximately $340 million.

Price target increased by 8.8% to US$90.93

Renesas Electronics Corporation (TSE:6723) entered into a definitive agreement to acquire Transphorm, Inc. (NasdaqCM:TGAN) from KKR Phorm Investors L.P., KKR & Co. Inc. (NYSE:KKR) and others for approximately $320 million.

Too Much Leverage Could Bite KKR Stakeholders In 2024 Recession

Around 10 Funds Reportedly Eye NIIF’s $1.2 Billion Road Portfolio

KKR & Co. Inc. Announces Resignation of Dane Holmes as Board of Directors

KKR Appoints Dane E. Holmes as Chief Administrative Officer, Effective from December 29, 2023

KKR, Ontario Teachers' Pension Plan and Care Hospitals Reportedly Submit Non-Binding Term Sheets to Acquire Stake in the Indian Business of Aster DM Healthcare

Bain, KKR, Advent Reportedly Circle Sai Life Sciences

KKR Requests Due Diligence Extension for Telecom Italia's Sparkle Unit

Price target increased by 7.9% to US$81.61

KKR Reportedly Working on Bid for Telecom Italia's Submarine Cable Unit

Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) agreed to acquire remaining 36.7% stake in Global Atlantic Financial Group LLC.

Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) acquired Potter Electric Signal Company, LLC from Gryphon Investors Inc.

Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) acquired Potter Electric Signal Company, LLC from Gryphon Investors Inc.

An affiliate of North America XIII Fund, managed by KKR & Co. Inc. (NYSE:KKR) completed the acquisition of Chase Corporation (NYSEAM:CCF).

Third quarter 2023 earnings released: EPS: US$1.71 (vs US$0.11 loss in 3Q 2022)

New minor risk - Shareholder dilution

KKR Closes $2.8 Billion Global Impact Fund II

Consensus EPS estimates increase by 15%

The Williams Companies, Inc. (NYSE:WMB) entered into an agreement to acquire remaining 50% stake in Rocky Mountain Midstream LLC from Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) for approximately $710 million.

KKR North America Fund XIII SCSp, managed by KKR & Co. Inc. (NYSE:KKR) completed the acquisition of Simon & Schuster, Inc. from Paramount Global (NasdaqGS:PARA).

Telecom Italia Sticks to Network-Asset Sale Plan After Investor Pushback

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age