KKR & Co. (KKR) Rose in Q3 Despite a Challenging Market Environment

Ariel Investments, an investment management company, released its “Ariel Appreciation Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the Ariel Appreciation fund fell -6.48% underperforming Russell Midcap Value and Russell Midcap indices, which returned -4.46% and -4.68%, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Ariel Appreciation Fund highlighted stocks like KKR & Co. Inc. (NYSE:KKR) in the third quarter 2023 investor letter. Headquartered in New York, New York, KKR & Co. Inc. (NYSE:KKR) is an equity and real estate investment firm. On December 12, 2023, KKR & Co. Inc. (NYSE:KKR) stock closed at $77.54 per share. One-month return of KKR & Co. Inc. (NYSE:KKR) was 16.76%, and its shares gained 57.12% of their value over the last 52 weeks. KKR & Co. Inc. (NYSE:KKR) has a market capitalization of $68.624 billion.

Ariel Appreciation Fund made the following comment about KKR & Co. Inc. (NYSE:KKR) in its Q3 2023 investor letter:

“In addition, alternative asset manager, KKR & Co. Inc. (NYSE:KKR), traded higher following solid earnings results in a challenging market environment. This performance was supported by steady fundraising, transaction fees and the early success of two new infrastructure and private equity products. We believe KKR possesses the size and organizational structure to gain from high institutional interest in alternative assets, as well as attractive corporate valuations in certain industries and geographies. The firm also has plenty of dry powder on hand, to invest opportunistically. Notably, KKR has performed quite well across different economic and financial conditions and, in our view, should continue generating alpha for its clients over the long-term.”

An investor confidently discussing portfolio options with their asset manager.

KKR & Co. Inc. (NYSE:KKR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held KKR & Co. Inc. (NYSE:KKR) at the end of third quarter which was 62 in the previous quarter.

We discussed KKR & Co. Inc. (NYSE:KKR) in another article and shared Diamond Hill Select Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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 Disclosure: None. This article is originally published at Insider Monkey.