KKR Infrastructure Conglomerate LLC filed a Current Report on Form 8-K on October 21, 2026, disclosing the transactional net asset value (NAV) for its various share classes as of September 30, 2026. The filing, which includes an exhibit detailing the valuation methodologies, provides a breakdown of the company's total assets and liabilities.
The company reported a total transactional NAV of $8,988,959,000 as of September 30, 2026, compared to $8,069,479,000 as of June 30, 2026. This increase is primarily driven by an increase in investments held at fair value, which rose from $6,978,804,000 to $8,269,678,000. The company also holds $906,881,000 in cash and cash equivalents.
The transactional NAV per share varies by class. As of September 30, 2026, Class G and Class H shares had the highest NAV per share at $37.83 and $37.82, respectively. Class F shares were valued at $33.28 per share, while Class U, S, and R shares were valued between $31.12 and $31.18 per share. Class D shares were valued at $31.12 per share.
The filing details the adjustments made to GAAP net asset value to arrive at the transactional NAV. These adjustments include the recognition of accrued shareholder servicing and distribution fees, the exclusion of certain deferred tax liabilities, and the capitalization of certain financing and acquisition-related costs over a ten-year period.
The valuation of the company's infrastructure assets relies on a mix of market comparables, discounted cash flow analyses, and transaction prices. As of September 30, 2026, the weighted average cost of capital used in discounted cash flow models was 12.0%.
