KKR Private Equity Conglomerate LLC
Sponsored by KKR. Operating Company structure focused on private equity.
Operating CompanyPrivate Equity
- Net assets
- $10.78B
source
Quarterly report (Form 10-Q) · filed 2026-05-13 · period 2026-03-31
Members equity
“{'end': '2026-03-31', 'val': 10782401000, 'accn': '0001957845-26-000040', 'fy': 2026, 'fp': 'Q1', 'form': '10-Q', 'filed': '2026-05-13', 'frame': 'CY2026Q1I', 'unit': 'USD'}”
Method Direct: structured XBRL tag
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $34.89
source
Quarterly report (Form 10-Q) · filed 2026-05-13 · period 2026-03-31
canonical class (Class I-Series 1) headline, basis: Transactional Net Asset Value (fund's own share-transaction pricing basis) — 10-Q 'breakdown of our total Transactional Net Asset Value and our Transactional Net Asset Value per share by class as of March 31, 2026' table: Class I Total Transactional Net Asset Value $2,196,073,000 / 62,936,476 shares = $34.8935, tying the directly filed $34.89. The filing states Transactional NAV is the price used to sell and repurchase shares. The July 2, 2026 LLC agreement expressly redesignated every outstanding Class I share as Class I-Series 1, preserving this historical observation's legal continuity.
“Transactional Net Asset Value Per Share Class D Shares Class I Shares Class S Shares Class U Shares Class R-D Shares Class R-I Shares Class R-U Shares Class F Shares Class G Shares Class H Shares Total Transactional Net Asset Value $ 274,305 $ 2,196,073 $ 23,844 $ 2,536,946 $ 389,644 $ 2,106,397 $ 3,482,628 $ 232,062 $ 1 $ 1 $ 11,241,901 Number of outstanding shares 7,921,702 62,936,476 694,206 73,875,647 11,253,236 60,460,834 102,342,611 6,283,273 40 40 325,768,065 Transactional Net Asset Value”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Class I-Series 1 · as of 2026-03-31 - Net flows, last qtr
- +9.1% qtr ended 2026-03-31
- Leverage in use
- Pending Pending
- Total return, 12m
- Pending SEC-filed periodic NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
On July 2, 2026, the Company entered into the Seventh Amended and Restated Limited Liability Company Agreement (the “Seventh A&R LLCA”), which amended and restated the Company’s... (2026-07-02)
On July 2, 2026, the Company entered into the Seventh Amended and Restated Limited Liability Company Agreement (the “Seventh A&R LLCA”), which amended and restated the Company’s Sixth Amended and Restated Limited Liability Company Agreement, dated as of December 4, 2024.
Why it matters and what changed
Governance documents changed. Usually technical; occasionally it moves a shareholder protection, so the specific provision is worth a read.
Occurrence event; see the filing text for terms vs the prior arrangement.
Source: https://www.sec.gov/Archives/edgar/data/1957845/000195784526000060/kkr-20260702.htm | Item 5.03
On July 2, 2026, the Board of Directors of the Company adopted a revised share repurchase plan (the “Share Repurchase Plan”) to, among other things, incorporate the Class I Series... (2026-07-02)
On July 2, 2026, the Board of Directors of the Company adopted a revised share repurchase plan (the “Share Repurchase Plan”) to, among other things, incorporate the Class I Series into the Share Repurchase Plan. The foregoing summary description of the Share Repurchase Plan does not purport to be complete and is qualified in its entirety by reference to the Share Repurchase
Why it matters and what changed
The rules governing how investors exit changed. For a semi-liquid fund the repurchase program IS the liquidity; any change to caps, frequency, or pricing deserves a direct read.
Occurrence event; see the filing text for terms vs the prior arrangement.
Source: https://www.sec.gov/Archives/edgar/data/1957845/000195784526000060/kkr-20260702.htm | Item 8.01
In connection with the foregoing, on July 2, 2026, the Company entered into a Second Amended and Restated Management Agreement (the “Second A&R Management Agreement”) with KKR DAV... (2026-07-02)
In connection with the foregoing, on July 2, 2026, the Company entered into a Second Amended and Restated Management Agreement (the “Second A&R Management Agreement”) with KKR DAV Manager LLC (the “Manager”).
Why it matters and what changed
Occurrence event; see the filing text for terms vs the prior arrangement.
Source: https://www.sec.gov/Archives/edgar/data/1957845/000195784526000060/kkr-20260702.htm | Item 1.01
Credit facility new or amended: 18 occurrence(s), 2023-07-27 to 2026-06-17
Most recent (2026-06-17): On June 17, 2026, certain indirect subsidiaries (collectively, the “Borrowers”) of KKR Private Equity Conglomerate LLC (the “Company”) entered into an amendment and lender joinder agreement (the “Joinder”) to that certain revolving credit agreement, dated as of December 23, 2024 (as amended from time to time, the “Agreement”), with Sumitomo Mitsui Banking Corporation, as joint lead arranger and administrative agent, KKR Capital Markets LLC, an indirect subsidiary of KKR & Co. Inc. and affiliate of the Company, as joint lead arranger, and the lenders party thereto.
Why it matters and what changed
Financing terms set the fund's cost of leverage and its dry powder. Amendments also reveal what lenders currently think of the collateral: improving spreads and rising commitments signal lender confidence; shrinking availability or margin increases signal the opposite. This fund logged 18 of these in the covered window; the cadence itself is part of the signal.
18 occurrence(s) of this event type stored; earlier instances are on the Fired Flags tab.
Source: https://www.sec.gov/Archives/edgar/data/1957845/000195784526000055/kkr-20260617.htm | Item 2.03
Historical findings (12)
On July 2, 2025, it was announced that Michael Whyte, Chief Operating Officer of KKR Private Equity Conglomerate LLC (the “Company”) and an employee of an affiliate of Kohlberg... (2025-07-02)
Officer Resignation As previously disclosed, Jeff Van Horn, Chief Financial Officer of KKR Private Equity Conglomerate LLC (the “Company”) and an employee of Kohlberg Kravis... (2025-02-25)
On December 4, 2024, KKR Private Equity Conglomerate LLC (the “Company”) entered into the Sixth Amended and Restated Limited Liability Company Agreement (the “Sixth A&R LLCA”) of... (2024-12-04)
On June 21, 2024, the Company entered into a Fifth Amended and Restated Limited Liability Company Agreement (the “Fifth A&R LLCA”) of the Company, which amended and restated the... (2024-06-21)
On May 30, 2024, the Fourth Amended and Restated Limited Liability Company Agreement (the “Fourth A&R LLCA”) of the Company was executed, which amended and restated the Company’s... (2024-05-30)
On May 30, 2024, KKR Private Equity Conglomerate LLC (the “Company”) entered into an Amended and Restated Management Agreement (the “A&R Management Agreement”) with KKR DAV... (2024-05-30)
On April 7, 2024, it was announced that Jeff Van Horn, Chief Financial Officer of KKR Private Equity Conglomerate LLC (the “Company”) and an employee of an affiliate of Kohlberg... (2024-04-07)
On December 19, 2023, the Company appointed Michael Whyte as Chief Operating Officer. (2023-12-19)
On December 14, 2023, the Third Amended and Restated Limited Liability Company Agreement (the “Third A&R LLCA”) of the Company was executed, which amended and restated the... (2023-12-14)
On November 7, 2023, the Second Amended and Restated Limited Liability Company Agreement (the “Second A&R LLCA”) of KKR Private Equity Conglomerate LLC (the “Company”) was... (2023-11-07)
On July 27, 2023, the Company executed its Amended and Restated Limited Liability Company Agreement (the “A&R LLCA”), which amended and restated the Company’s Limited Liability... (2023-07-27)
On July 27, 2023, KKR Private Equity Conglomerate LLC (the “Company”) entered into a Management Agreement (the “Management Agreement”) with KKR DAV Manager LLC (the “Manager”). (2023-07-27)
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Monthly performance eligibility
Canonical class: Class I-Series 1 · basis: no qualifying monthly chain · qualifying history: 0 months.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
Pending
Where exit demand met the cap.
The disclosed history shows no rationed period.
Pending
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Pending
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Not attributed 100.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class I-Series 1 | Pending | Pending | Pending | Pending | Pending |
Management fee: 1.25% of structured class varying schedule per year, current as of 2026-07-02. SEC source 0001957845-26-000060.
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I-Series 1 | 1.25% | Pending | Pending | Pending | Pending | Pending |
| Fee component | Rate | Basis / class | Condition |
|---|---|---|---|
| Management · class rate | 1.25% | Class D Shares, Class I-Series 1 Shares, Class S Shares and Class U Shares | Contractual component |
| Management · class rate | 1.15% | Class I-Series 2 Shares | Contractual component |
| Management · class rate | 1.00% | Class I-Series 3 Shares | Contractual component |
| Management · class rate | 0.95% | Class I-Series 4 Shares | Contractual component |
| Management · class rate | 1.00% | each of Class R-D Shares, Class R-I Shares, Class R-S Shares and Class R-U Shares for the 60-month period following the Initial Offering | Contractual component |
| Management · class rate | 1.25% | Class R-D Shares, Class R-I Shares, Class R-S Shares and Class R-U Shares after the 60-month period following the Initial Offering | Contractual component |
| Performance · total return | 15.00% | Total Return | 5.00% annualized hurdle + high-water mark* |
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (4)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Pursuant to the Management Agreement, the Manager is entitled to receive a management fee (the 'Management Fee') from the Company in an amount equal to (i) 1.25% per annum of the month-end NAV attributable to Class S, Class D, Class U and Class I Shares, and (ii) 1.00% per annum of the month-end NAV attributable to Class R-S, Class R-D, Class R-U and Class R-I Shares for a 60-month period following August 1, 2023 (the 'Initial Offering'), stepping up to 1.25% per annum thereafter. The KKR Shares (Class G), held entirely by KKR itself, are not subject to the Management Fee. KKR also separately receives a Performance Participation Allocation. Operating-company management agreement; the fund has not yet filed a 10-K (first 10-Q on file), so this is a first-pass extraction from its most recent 10-Q's related-party note, the same disclosure family a 10-K's would carry. | 1.25 pct_annual_of_nav_by_share_class | Pending |
| advisory_fee_schedule | “ Management Fee ” means the management fee, without duplication, payable monthly in arrears with respect to each calendar month commencing with the month in which the Effective Date occurs, in an amount equal to: (i) 1.25% per annum of the Net Asset Value attributable to Class D Shares, Class I-Series 1 Shares, Class S Shares and Class U Shares; (ii) 1.15% per annum of the Net Asset Value attributable to Class I-Series 2 Shares; 5 (iii) 1.00% per annum of the Net Asset Value attributable to Class I-Series 3 Shares; (iv) 0.95% per annum of Net Asset Value attributable to Class I-Series 4 Shares; (v) for Class R-D Shares, Class R-I Shares, Class R-S Shares and Class R-U Shares, (x) 1.00% per annum of the Net Asset Value attributable to each of Class R-D Shares, Class R-I Shares, Class R-S Shares and Class R-U Shares for the 60-month period following the Initial Offering; (y) 1.25% per annum of the Net Asset Value attributable to Class R-D Shares, Class R-I Shares, Class R-S Shares and Class R-U Shares after the 60-month period following the Initial Offering; each before giving effect to any accruals for the Management Fee, the Distribution Fee, the Servicing Fee, the Performance Participation Allocation, share repurchases for that month, any distributions and without taking into account any taxes (whether paid, payable or otherwise) of any intermediate entity through which the Company indirectly holds interests in a portfolio company, as determined in the good faith judgment of the Manager. The Management Fee shall be pro rated for partial periods, to the extent necessary, as described more fully elsewhere he | Text disclosure | 2026-07-02 |
| incentive_fee_schedule | fee (the “Management Fee”) from the Company in an amount equal to (i) 1.25 % per annum of the month-end Net Asset Value (“NAV”) attributable to Class S Shares, Class D Shares, Class U Shares and Class I Shares and (ii) 1.00 % per annum of the month-end NAV attributable to Class R-S Shares, Class R-D Shares, Class R-U Shares and Class R-I Shares for a 60 -month period following August 1, 2023 (the “Initial Offering”), and 1.25 % per annum of the month-end NAV attributable to such Shares thereafter, each before giving effect to accruals for the Management Fee, the Distribution Fee (as defined herein), the Servicing Fee (as defined herein), the Performance Participation Allocation (as defined herein), share repurchases for that month, any distributions and without taking into account any taxes (whether paid, payable, accrued or otherwise) of any intermediate entity through which the Company indirectly acquires and holds a portfolio company, as determined in the good faith judgment of the Manager. Such Management Fee is calculated based on the Company’s transactional net asset value (“Transactional Net Asset Value”), which is used to determine the price at which the Company sells and repurchases its Shares. 17 KKR or its affiliates (and in the case of directors’ fees, KKR executives) are expected to be paid transaction fees and monitoring fees in connection with the acquisition, ownership, control and exit of portfolio companies, and KKR or its affiliates are expected to be entitled to receive “break-up” or similar fees in connection with unconsummated transactions (“Other Fees”). The Management Fee payable in any monthly period is subject to reduction, but not below zero, by an amount equal to any Other Fees allocable to Investor Shares pursuant to the terms of the Management Agreement. The Manager, in its sole discretion, may forgo reimbursement by the Company of certain expenses incurred by the Manager or its affiliates (other than the Company and its subsidiaries) on behalf of the Company in each calendar month to the extent there remains any Other Fees that are not used to offset the Management Fee. Any Other Fees used to offset such expenses will not be applied again to offset future Management Fees. For the three months ended March 31, 2026 and 2025, the Manager earned $ 29,035 and $ 13,807 in gross Management Fees, respectively, and the Company offset Management Fees and certain other expenses of $ 29,672 and $ 13,807 , respectively. As of both March 31, 2026 and December 31, 2025, the Company did not owe a net Management Fee to the Manager. Pursuant to the Management Agreement, such amounts earned may be offset by the Manager against amounts due to the Company from the Manager. As of March 31, 2026 and December 31, 2025, there were unapplied credits of $ 1,434 and $ 27,148 , respectively, to be carried forward that relate to Other Fees earned. Performance Participation Allocation Under the limited liability company agreement of the Company (as amended, the “LLC Agreement”), for as long as the Management Agreement has not been terminated, any Class H Member (as defined in the LLC Agreement) may receive a Performance Participation Allocation from the Company. KKR is allocated a “Performance Participation Allocation” equal to 15.0 % of the Total Return attributable to Investor Shares subject to a 5.0 % annual Hurdle Amount and a High Water Mark, with a 100 % Catch-Up (each as defined in the LLC Agreement). | Text disclosure | Pending |
| incentive_fee_schedule | “ Performance Participation Allocation ” means the performance participation allocation to be received by the Class H Member equal to 15.0% of the Total Return attributable to Investor Shares subject to the Hurdle Amount and a High Water Mark with 100% Catch-Up. | Text disclosure | 2026-07-02 |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-07-02 | 8-K | 0001957845-26-000060 |
| 2026-06-24 | 8-K | 0001957845-26-000055 |
| 2026-06-18 | 8-K | 0001957845-26-000053 |
| 2026-06-04 | 8-K | 0001957845-26-000050 |
| 2026-05-27 | 8-K | 0001957845-26-000046 |
| 2026-05-21 | 8-K | 0001957845-26-000043 |
| 2026-05-13 | 10-Q | 0001957845-26-000040 |
| 2026-04-24 | 8-K | 0001957845-26-000035 |
| 2026-04-21 | 8-K | 0001957845-26-000032 |
| 2026-03-26 | 10-K | 0001957845-26-000029 |
| 2026-03-25 | 8-K | 0001957845-26-000026 |
| 2026-03-20 | 8-K | 0001957845-26-000023 |
| 2026-03-10 | 8-K | 0001957845-26-000019 |
| 2026-03-02 | 8-K | 0001957845-26-000016 |
| 2026-02-25 | 8-K | 0001957845-26-000014 |