KKR

High yield has come a long way from its “junk bond” days. BB-rated credits now make up 57% of the U.S. high-yield market and 68% in Europe, a quality shift more than a decade in the making. Today, investors are accessing higher-quality corporate credit while earning yields that remain attractive relative to the underlying risk, with the added structural benefit of call protection. And with effective duration near a 15-year low, the backdrop may offer an attractive setup for risk-adjusted returns. This piece, High Yield’s Second Act: What AI Revealed About Credit Quality, explores the drivers of the shift, from fallen angels to private equity sponsors’ return to the public markets. Just don’t call it “junk.” Read more: https://go.kkr.com/45pXomo

If you’re constantly looking over your shoulder, you’ll miss what’s in front of you. In this episode of Dining In at KKR, Raj Agrawal talks with James Foye about how leadership isn’t just about making the right call. Missteps happen, but high-performing teams are built by leaders who create the confidence to learn, adapt, and keep moving. If fear of making the wrong move becomes greater than the desire to make the right one, innovation inevitably suffers. Hear more about how our culture supports employees to experiment with new ideas and approaches: https://go.kkr.com/4hQdTzB

Powering the next wave of AI will require significant investment in compute. We’re building on our longstanding relationship with NVIDIA to explore a new financing platform designed to help turn growing demand into real capacity. https://go.kkr.com/4gqv4X3

Recently, our Dublin office welcomed both of our Co-CEOs for separate visits. Joe Bae joined the team to celebrate the firm’s 50th anniversary, while Scott Nuttall hosted a town hall focused on the continued growth of our Dublin office and its increasingly important role in supporting KKR's global business. Together, these visits reflect our long-term commitment to Dublin and the talented team that continues to help drive our firm forward. Learn more about KKR Dublin and opportunities to join the team: https://go.kkr.com/45cxqTb

In Europe, we continue to have conviction in the long-term strength of the renewable energy sector. This week, we acquired a 50% stake from TotalEnergies in a 1.2 GW onshore solar and wind portfolio spanning France, Spain, Germany and Poland. This follows our investment with TotalEnergies on a 1.4 GW solar portfolio in North America just last year. The European portfolio – valued at €1.8 billion – is a balanced mix of solar and wind, already 75% operational and with roughly 90% expected online by the end of 2026. Read more: https://go.kkr.com/4pViiTz

Understanding private credit starts with asking (and answering) the right questions. This guide is designed to help financial advisors build a strong foundation in the asset class, with practical insights to support more informed client conversations. Explore the fundamentals of Private Credit: https://go.kkr.com/4hmAdR7

Has the high yield market fundamentally changed? In our view, today's high yield market has outgrown its “junk bond” label and deserves a fresh look. In a Financial Times op-ed, Christopher Sheldon explains that the conditions that are making high yield compelling today are not new, but what is new is how they are converging all at once. Today’s high yield market is higher quality, shorter duration and more secured than ever before and this, combined with evolving issuer preferences and technical constraints in the syndicated loan and direct lending markets, positions the market for a potential renaissance. For more, we recently published "High Yield's Second: What AI Revealed About Credit Quality," which provides a more in-depth, global analysis on this topic. Read it here: https://go.kkr.com/4hOUwXh

We have agreed to acquire Integer Holdings Corporation, a leading global medical device contract development and manufacturing organization (CDMO). Learn more: https://go.kkr.com/3SenJR8

Global Infrastructure Investors V is our largest infrastructure fund to date, with $19.2 billion focused on critical infrastructure assets and businesses primarily in North America and Western Europe. Learn more: https://go.kkr.com/4yV39pA

As markets evolve, how you build a portfolio can matter just as much as what goes into it. The Total Portfolio Approach (TPA) starts with your investment goals, then combines broad asset classes with more targeted opportunities across sectors, regions, capital structures, and themes. The result is a more dynamic framework for pursuing investment objectives as opportunities change. See why more investors are considering the TPA: https://go.kkr.com/4vVCXZj