KKR posted higher profit and revenue in the second quarter, buoyed by higher management fees and fundraising along with strong asset inflows across its asset management and insurance segments. Revenue climbed to $5.73 billion from $5.09 billion a year earlier.

The New York investment firm posted a quarterly profit of $660.1 million, or 70 cents a share, up from $472.4 million, or 50 cents a share, a year earlier. Adjusted earnings per share were $1.63, compared with estimates of $1.43 a share. Fee-related earnings jumped to $1.21 billion from $886.8 million, with management fees up more than 25%.

Co-Chief Executives Joseph Bae and Scott Nuttall said continued return of capital to clients led to their strongest monetization quarter ever and helped drive record new capital inflows over the past 12 months. The firm's insurance division posted revenue of $3.52 billion, up from $3.25 billion, helped by net policy inflows and higher investment yields at its Global Atlantic unit.

The company said inflows in the period were largely driven by individual markets annuity sales and institutional flow business.