Form 4: KKR Real Estate Select Trust Inc.: KKR Alternative Assets LLC Acquires Shares as Payment for Management Fees

KKR Alternative Assets LLC acquired 117,903 shares of KKR Real Estate Select Trust Inc. common stock as payment for management and/or incentive fees.

Summary

• On March 31, 2025, KKR Alternative Assets LLC acquired 117,903 shares of KKR Real Estate Select Trust Inc. common stock.
• The shares were acquired as payment for management and/or incentive fees under the investment advisory agreement between KKR Real Estate Select Trust Inc. and KKR Registered Advisor LLC.
• The price per share was $24.47.
• Following the transaction, KKR Alternative Assets LLC beneficially owns 10,428,373.994 shares of common stock indirectly.
• The reporting persons, including KKR Alternative Assets LLC and related entities, disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 7

Explanation: The document is a standard regulatory filing related to compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

This Form 4 filing is a routine disclosure related to the compensation structure of KKR Real Estate Select Trust Inc., where management fees are paid in the form of company stock. This is a common practice in the investment management industry.

Related Party Transactions

• The issuance of shares to KKR Alternative Assets LLC as payment for management and/or incentive fees pursuant to the investment advisory agreement between KKR Real Estate Select Trust Inc. and KKR Registered Advisor LLC constitutes a related party transaction.

Stakeholder Impact

• The issuance of shares may have a minor dilutive effect on existing shareholders.

Key Dates

Keywords

KKR Real Estate Select Trust Inc., KKR Alternative Assets LLC, share acquisition, management fees, incentive fees, Form 4, beneficial ownership, investment advisory agreement