A dated asset-class assumption; it is not a deal quote, fund target or guaranteed IRR.
Module 15
Sources, Method and Limitations
Review Hub-IB's evidence labels, return assumptions, example-organization sources and educational limitations.
19governed 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 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 ↗Module 15 of 15
