A dated asset-class assumption; it is not a deal quote, fund target or guaranteed IRR.
Sources and method
Sources, Method and Limitations
Review Hub-IB's evidence labels, curriculum independence controls, return assumptions and educational limitations.
28governed sources
9 August 2026market check
Method
Definitions, examples and return figures have different evidence requirements.
Hub-IB separates sourced market assumptions, historical benchmarks, category examples and transaction-specific areas where a single range would create false precision.
Observed index performance for a stated period; it is not a forward forecast.
The provider's own mandate and instrument govern the required return.
No reliable public cross-market range was identified; transaction evidence is required.
| Profile | Displayed value | Evidence label | Interpretation | Source |
|---|---|---|---|---|
| Pe | 10.8% p.a. | Illustrative public proxy | KKR 5-year USD expected annualized total return for private equity; this is neither a fund target nor a guaranteed IRR. | Source |
| Real Estate | 8.9% p.a. | Illustrative public proxy | KKR 5-year USD expected annualized total return for private real estate; property strategy and leverage can change outcomes materially. | Source |
| Infrastructure | 10.3% p.a. | Illustrative public proxy | KKR 5-year USD expected annualized total return for private infrastructure; project-level equity IRRs remain transaction-specific. | Source |
| Public Equity | 6.1% p.a. | Illustrative public proxy | KKR 5-year USD expected annualized total return for global public equity; this is a portfolio assumption, not a company return target. | Source |
| Direct Lending | 6.7% return; 8.1% yield | Illustrative public proxy | KKR 5-year expected annualized return and current yield for direct lending in USD; deal pricing and realized loss experience vary. | Source |
| Leveraged Loan | 5.9% return; 7.4% yield | Illustrative public proxy | KKR 5-year expected annualized return and current yield for leveraged loans in USD; this is not borrower all-in cost. | Source |
| High Yield | 5.6% return; 7.2% yield | Illustrative public proxy | KKR 5-year expected annualized return and current yield for US high-yield bonds in USD. | Source |
| Investment Grade | 4.3% return; 4.8% yield | Illustrative public proxy | KKR 5-year expected annualized return and current yield for US corporate bonds in USD. | Source |
| Venture History | 6.4% in H1 2025 | Historical benchmark; no target IRR | Cambridge Associates US Venture Capital Index return for the first half of 2025; this is historical period performance, not a forward IRR. | Source |
| Mandate | Mandate-specific | No universal return | The capital-provider mandate, instrument, geography, currency, risk and duration determine the relevant return measure. | Source |
| Unavailable | Reliable public range unavailable | Deal-specific | A single public range would create false precision. Use the term sheet, comparable transactions and current market evidence. | Source |
| Strategic | Financial IRR may be secondary | Strategic and financial case | Strategic investors may assess market access, technology, supply resilience or synergies alongside financial return. | Source |
Source ledger
19 governed capital-market sources
Links open the publisher's page or document. Access restrictions may apply at the source.
KKR Capital Market Assumptions, January 2026
USD 5-, 10- and 20-year expected annualized total returns and current yields for selected public and private asset classes.
January 2026; data at 31 December 2025Open source ↗2026 Long-Term Capital Market Assumptions
USD 10- to 15-year return assumptions, including private equity, real estate and infrastructure.
20 October 2025Open source ↗US Private Equity & Venture Capital Benchmark Commentary, H1 2025
Historical US private-equity and venture-capital index performance; this is not a forward target.
5 January 2026; data through 30 June 2025Open source ↗Private Equity Funds
Plain-language private-equity fund structure, time horizon and investment approach.
Accessed 9 August 2026Open source ↗Private Funds
Private-fund and traditional venture-fund structure.
12 June 2024; accessed 9 August 2026Open source ↗Investor.gov Glossary
Definitions for bonds, mutual funds, leverage, seniority, securities and other market terms.
Accessed 9 August 2026Open source ↗Understanding Bond Yield and Return
Coupon, current yield, yield to maturity, yield to call and yield to worst.
Accessed 9 August 2026Open source ↗Finance Structures for PPP
SPVs, project equity, lenders, contracts, capital structure and limited-recourse finance.
Accessed 9 August 2026Open source ↗Project Finance; Key Concepts
Project-finance structure, recourse, cash-flow risk and construction-phase risk.
Accessed 9 August 2026Open source ↗Products and Services
Development-finance loans, equity, syndications, trade finance and transaction advisory.
Accessed 9 August 2026Open source ↗Blackstone Private Equity
Official example of a global private-equity platform.
Accessed 9 August 2026Open source ↗Ares Credit
Official example covering direct lending, liquid, alternative and opportunistic credit.
Accessed 9 August 2026Open source ↗Hercules Capital
Official example of a venture lender to technology and life-sciences companies.
Accessed 9 August 2026Open source ↗Sequoia Capital
Official example of a venture-capital firm and portfolio.
Accessed 9 August 2026Open source ↗ADIA Investments
Official sovereign portfolio and asset-class allocation ranges.
Accessed 9 August 2026Open source ↗GIC; how we invest
Official sovereign investment mandate and approach.
Accessed 9 August 2026Open source ↗Public Investment Fund; who we are
Official investment mandate and strategic role.
Accessed 9 August 2026Open source ↗DFO Management; about
Official public example of a family investment office.
Accessed 9 August 2026Open source ↗Intel Capital
Official example of a corporate venture-capital investor.
Accessed 9 August 2026Open source ↗Curriculum method
Public topic references; independently authored content.
The public topic taxonomy and exam-format descriptions support coverage and progressive cognitive depth. They are not sources for copied questions or proprietary curriculum text.
CFA Program Candidate Body of Knowledge
Public topic taxonomy used only as a curriculum coverage reference.
Accessed 27 August 2026Open source ↗CFA Program Level I Exam Guide
Public description of topic areas and three-choice question structure.
Accessed 27 August 2026Open source ↗CFA Program Level II Exam Guide
Public description of analytical depth and vignette-based assessment.
Accessed 27 August 2026Open source ↗CFA Exam Misconduct and Rules Violations
Exam confidentiality and unauthorized-question boundary.
Accessed 27 August 2026Open source ↗Investor.gov Glossary
Public definitions for securities, markets, risk and investment products.
Accessed 27 August 2026Open source ↗Understanding Bond Yield and Return
Public explanation of bond coupon, price, yield and return measures.
Accessed 27 August 2026Open source ↗Issued IFRS Accounting Standards
Authoritative accounting-standard reference.
Accessed 27 August 2026Open source ↗IMF Economics Topics
Public macroeconomic, monetary, fiscal and international-finance reference.
Accessed 27 August 2026Open source ↗Project Finance; Key Concepts
Project-finance structure, recourse and cash-flow risk.
Accessed 27 August 2026Open source ↗