KKR

The VanEck Alternative Asset Manager ETF (GPZ), launched in June 2025, has underperformed significantly with a year-to-date loss of 21.29% and a Zacks ETF Rank of 4 (Sell). The fund tracks alternative asset managers across private equity, venture capital, and private credit with a 0.4% expense ratio. Top holdings include Brookfield Corp, Blackstone Inc, and KKR & Co Inc. Better alternatives in the space include Invesco Global Listed Private Equity ETF (PSP) and VanEck BDC Income ETF (BIZD).

TotalEnergies and KKR have agreed to add 700 MW of solar capacity to their 50:50 joint venture, expanding total capacity from 1.4 GW to 2.1 GW. The $1.2 billion portfolio includes three utility-scale solar projects in Texas and Ohio expected to begin operations by Q1 2027, supporting TotalEnergies' goal of achieving over 100 TWh of net electricity production by 2030.

Montagu has completed its acquisition of a majority stake in Helix through a carve-out from BMC Software, making Helix a fully independent company. KKR will maintain ownership of BMC and retain a minority stake in Helix. The move aims to give Helix greater focus and flexibility to accelerate growth and innovation in agentic AI ServiceOps solutions.

Thomson Reuters stock rose 2.09% after the company closed the sale of a 51% stake in its global print unit to KKR-advised capital accounts for approximately $500 million. The newly formed Westbridge Print will operate as a joint venture, allowing Thomson Reuters to focus on next-generation AI solutions for tax, audit, compliance, and legal sectors.

With 10-year Treasury yields surpassing 5%, Realty Income (O) is presented as a superior alternative for long-term passive income investors. The REIT owns over 15,500 diversified properties, has increased its monthly dividend 136 times since 1994, and is expanding through joint ventures with KKR in private capital and data centers, positioning it for continued dividend growth unlike fixed Treasury coupons.

Blackstone reported Q3 2026 earnings of $1.32 per share, beating estimates but declining 13% year-over-year. While the company achieved record AUM of $1.37 trillion with $63.3 billion in quarterly inflows and grew fee-related earnings 6%, segment revenues declined 3% year-over-year, reflecting a challenging operating environment.

The global private credit and alternative lending market is projected to reach USD 3.36 trillion by 2031, growing at 7.8% CAGR from a 2026 base of USD 2.31 trillion. Growth is driven by AI/data-center infrastructure debt, insurance-linked capital, and bank retrenchment, though the market faced liquidity stress in 2025-26 concentrated in retail-facing vehicles, resulting in significant redemption pressures and market capitalization losses for major managers.

Blackstone is set to report Q3 2026 earnings on October 22, with consensus estimates projecting a 13.8% earnings decline and only 1.9% revenue growth. While total AUM is expected to grow 11.1% to $1.38 trillion, the company faces headwinds from subdued deal-exit profits, rising expenses, and weaker realized performance revenues. The stock has underperformed peers, declining 12.5% in Q3.

Hyperion Materials & Technologies has acquired Ultra-Met Company, an Urbana, Ohio-based tungsten carbide manufacturer, to expand its capabilities in serving the US aerospace and defense industries. The acquisition aims to strengthen Western-sourced carbide supply chains and address global supply chain instability for critical defense materials.

BlackRock (BLK) has risen 6.8% over six months, supported by record $15.3 trillion AUM, strategic acquisitions in private markets and technology, and strong demand for ETFs and solutions. However, rising expenses, premium valuation (17.06X forward P/E vs. 13.28X industry average), and international exposure risks limit near-term upside. The stock carries a Zacks Rank #3 (Hold) rating.

Lazard (LAZ) reported $285 billion in AUM as of June 2026, up 15% year-over-year, with $7.4 billion in first-half net inflows—its strongest in nearly 20 years. The company is pursuing its goal of doubling firmwide revenue by 2030 through expansion of its Asset Management division, which now accounts for 42.1% of net revenue. Key growth drivers include the Lazard Advantage quantitative platform reaching $50 billion AUM, active ETF expansion, and strategic acquisitions including a controlling stake in Elaia Partners and the planned acquisition of Campbell Lutyens.