KKR & Co.

KKR is one of the world's leading alternative asset managers, a pioneer of the leveraged buyout that today invests across private equity, credit, infrastructure and real estate, while also running a growing insurance business. It earns management and performance fees on vast pools of capital and increasingly holds sizable investments on its own balance sheet, blending fee income with investment gains. KKR pays a dividend but deliberately keeps the yield low, retaining most of its earnings to compound within the business and fund growth. The payout has risen over the years and is comfortably covered, but this is chiefly a capital-appreciation story tied to the expansion of private markets. Income is a minor part of the case, better suited to investors focused on long-term growth than on current yield.