Kkr & Co. Inc. · NYSE:KKR
Kkr & — Investor Presentation (January 2026)
23 slides from Kkr &'s investor presentation, January 2026
Slide 1: KKR Asset-Based Finance Fund (K-ABF)
KKR Asset-Based Finance Fund (K-ABF) JANUARY 2026 INVESTMENT PRODUCTS | NOT FDIC INSURED 1 NO BANK GUARANTEE | MAY LOSE VALUE
Slide 2: Important Information and Key Risk Factors
Important Information and Key Risk Factors The information in the Presentation contains expectations, estimates, projections (including financial projections), targets, opinions and other forward-looking statements regarding future events (together, the “Projections”), and the information regarding
Slide 3: Important Information and Key Risk Factors
Important Information and Key Risk Factors Investment and Market Risk. An investment in the Fund involves a considerable amount of risk. Before making an investment decision, a prospective investor should (i) consider the suitability of this investment with respect to his or her investment objective
Slide 4: Important Information and Key Risk Factors
Important Information and Key Risk Factors Conflicts of Interest Risk. The Adviser will experience conflicts of interest in connection with the management of the Fund, relating to the allocation of the Adviser’s time and resources between the Fund and other investment activities; the allocation of i
Slide 5: Delivering Asset-Based Finance (ABF) To Private Wealth
Delivering Asset-Based Finance (ABF) To Private Wealth K-ABF is a differentiated income-focused investment solution for investors seeking to broaden their exposure to private credit Market Opportunity Why ABF? KKR Credit K-ABF Widening the Enhanced Domain Focused on Aperture in Portfolio Expertise t
Slide 6: KKR Is A Scaled, Global Player In Credit
KKR Is A Scaled, Global Player In Credit… $282bn CREDIT ASSETS UNDER MANAGEMENT ACROSS GLOBAL, US, EMEA, AND APAC ~250(1) PROFESSIONALS ACROSS 12 CITIES IN 10 COUNTRIES Leveraged Credit Private Credit Strategic Investments $143bn ASSETS UNDER $131bn ASSETS UNDER MANAGEMENT $8bn ASSETS UNDER MANAGEME
Slide 7: And Has Built A Leading Platform In ABF
…And Has Built A Leading Platform In ABF KKR has been investing in ABF for nearly a decade and is a highly differentiated platform Scaled With A Global Footprint Origination Advantage Globally integrated business Longstanding relationships, sector with $84bn in assets under specialization, and ~21 c
Slide 8: The ABF Opportunity
S EC T I O N O N E The ABF Opportunity
Slide 9: The Economy Runs On ABF – What Is It?
The Economy Runs On ABF – What Is It? ABF is increasingly garnering the attention of investors Credit investments focused on lending against financial or physical assets in the “real economy” ▪ In addition to generating recurring, often contractual income, these assets also serve as investment colla
Slide 10: We Believe Today's ABF Opportunity Is Too Big To Ignore
We Believe Today’s ABF Opportunity Is Too Big To Ignore Mapping The Private Credit Landscape Asset-Based Finance Corporate Direct ~$6 trillion+ market, estimated $9 trillion+ by 2029 1 Lending ~$2 trillion+ market1 North America Europe Asia Pacific & ROW $9.2 $6.1 Mid-Sized $5.2 Corporations (~85% o
Slide 11: Secular Tailwinds Advancing The ABF Opportunity Set
Secular Tailwinds Advancing The ABF Opportunity Set No Signs of Retreat: Ongoing Bank Consolidation1 What’s driving ABF? 8,000 7,397 1 Banks in 2006 7,000 Fewer banks today with reduced activity in certain segments Total # of U.S. Commercial Banks 6,000 2 5,000 3,966 Banks and more companies Banks i
Slide 12: The Role Of ABF In A Portfolio
The Role Of ABF In A Portfolio Delivers Opportunities Otherwise A Powerful Diversifier Hard To Access Differentiated risk and return attributes that we ABF (like Direct Lending many years ago) is likely believe offer current income, a measure of inflation an underrepresented allocation across indivi
Slide 13: KKR Asset-Based Finance Fund (K-ABF)
S EC T I O N T W O KKR Asset-Based Finance Fund (K-ABF)
Slide 14: KKR Asset-Based Finance Fund (K-ABF)
KKR Asset-Based Finance Fund (K-ABF) Dedicated ABF access intended to generate consistent outcomes across market cycles Strategy Objectives of K-ABF Structural Benefits of K-ABF ABF investments can provide excess yield and Fully drawn, no capital calls return generation compared to traditional fixed
Slide 15: Casting A Wide Net: Where We Intend To Invest & How We Do It
Casting A Wide Net: Where We Intend To Invest & How We Do It KKR’s broad multi-sector approach offers flexibility to invest in areas we believe offer the most attractive risk-adjusted returns rather than relying on a single market segment Consumer & Residential Commercial Finance Auto Lending Reside
Slide 16: A Look Inside K-ABF
A Look Inside K-ABF Investment Strategy Highlights Invests at least 80% of portfolio in Asset-Based Finance (ABF) opportunities Target Leverage Target Ratio of Target Average ~0.0 - 0.5x Fixed vs. Floating Position Size K-ABF (Note: effective portfolio leverage may be higher) ~65% fixed ~35% floatin
Slide 17: Case Study: Harley Davidson
Case Study: Harley Davidson Motorcycle loan portfolio acquisition and platform investment Sector Investment Type Collateral Package Geography Consumer & Residential Portfolio Acquisition Motorcycle Loan Receivables US & Canada Harley-Davidson Financial Services ("HDFS") is the wholly owned captive f
Slide 18: Case Study: HarbourView
Case Study: HarbourView Securitization of Music Intellectual Property (IP) Sector Investment Type Collateral Package Geography Contractual Cash Flows Structured Music IP Rights US HarbourView Equity Partners is an alternative investments firm that focuses on music royalties. The company Company Over
Slide 19: Case Study: Discover
Case Study: Discover Purchase of a $10.5bn(1) portfolio of prime private student loans from Discover Financial Services Sector Investment Type Collateral Package Geography Consumer & Residential Portfolio Acquisition Student Loans US Discover Financial Services was, prior to this transaction, the se
Slide 20: Case Study: Altitude II
Case Study: Altitude II Platform investment in one of KKR’s origination platforms Sector Investment Type Collateral Package Geography Platform Investment & Hard Assets Airplanes US Associated Asset Flows Altavair is KKR’s dedicated aircraft leasing platform. It is an industry leading, full-service a
Slide 21: Appendix
S EC T I O N T H R E E Appendix
Slide 22: Complementary: Direct Lending and Asset-Based Finance
Complementary: Direct Lending and Asset-Based Finance Two distinct streams of cash flows Direct Lending Asset-Based Finance Investment Consideration: Investment Consideration: Cash flows and overall health of the business Quality of underlying collateral Direct ABF Lending Loan to Investors Purchase
Slide 23: K-ABF Term Sheet
CC-881462-2026-02-05-V1 K-ABF Term Sheet Offering • KKR Asset-Based Finance Fund (“K-ABF”) – formerly known as KKR Credit Opportunities Portfolio (“KCOP”), incepted 2/28/20, transition commenced 12/17/25 Investment Objective • To generate high current income and, to a lesser extent, long-term capita