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加拿大皇家银行表示，KKR的融资周期预计将持续到2027年。

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-- 加拿大皇家银行资本市场（RBC Capital Markets）表示，KKR（KKR）有望从另类资产管理行业的“K型”分化中获益。在这一分化中，规模更大的多元化资产管理公司正在不断扩大市场份额，而预计将持续到2027年的募资超级周期也为其提供了支撑。 管理层表示，宏观经济波动可能导致其每股7美元的业绩指引难以实现，尤其是在退出交易延迟的情况下。然而，RBC在周二的一份报告中指出，其预期和市场共识已反映出本季度初每股约6美元的较低基准，这有助于积极调整市场预期。 该公司表示，KKR正受益于由长期趋势驱动的募资超级周期，即有限合伙人正在整合与少数普通合伙人的关系。这种动态正在强化有利于大型多元化另类资产管理公司的“K型”行业结构。 RBC还重点介绍了KKR投资组合公司的员工持股计划，并指出CoolIT的出售取得了15倍的退出倍数，取得了不错的成果。该公司表示，该计划目前已在旗下85家投资组合公司实施，有效提高了员工留任率，促进了营收增长，并扩大了利润率。 该公司维持对KKR的“跑赢大盘”评级，并将目标股价从132美元下调至128美元。

Price: $101.08, Change: $-0.92, Percent Change: -0.91%

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