US private equity giant KKR’s co-CEOs are aiming to double earnings over the next five years, as founders Henry Kravis and George Roberts prepare to hand over control of the firm, according to a report by the Wall Street Journal.
Under CEOs Joseph Bae and Scott Nuttall, who took the reins from Kravis and his cousin Roberts in late 2021, KKR has already doubled its assets to more than $500 billion over the past two years.
The private equity behemoth, which started as a private partnership and is now a public company, has more than 35 investing strategies, up from six at the time of the 2008-09 financial crisis.
Kravis and Roberts, both 79 years old, have agreed to give up the super-voting stock through which they control the firm at the end of 2026, relinquishing their remaining power to be the final decision makers when it comes to matters such as compensation. They will each still own about 10% of the firm.