Morgan Stanley Research KKR Sum‑of‑the‑Parts Valuation Exhibit

Morgan Stanley Research KKR Sum‑of‑the‑Parts Valuation Exhibit The document contains only internal financial modeling data for KKR with no mention of political figures, government agencies, foreign actors, or alleged misconduct. It offers no actionable investigative leads. Key insights: Provides upside/downside valuation scenarios for KKR's C‑corp conversion.; Shows fee‑related earnings multiples and projected share price impacts.; Cites Morgan Stanley and Thomson Reuters as data sources.