Even as the private equity industry grapples with elevated interest rates and a growing backlog of unsold portfolio companies amid mounting concerns over artificial intelligence’s impact on the software sector, KKR reported record earnings during the second quarter of 2026. Although KKR’s opportunistic real estate portfolio posted a 1 percent gross loss in the second quarter, it generated a 1 percent gross return over the past 12 months. KKR raised $34 billion in new capital during the quarter, bringing its 12-month fundraising total through June to a record $133 billion. In June, it launched a $10 billion company to provide the infrastructure needs for the build-out of data centers. At the close of the second quarter, unspent capital stood at $143 billion.