INVESTMENTS

9 Months Ended

Sep. 30, 2020

Investments consist of the following:



	September 30, 2020		December 31, 2019
Private Equity	$	15,749,633	$	12,923,600
Credit	11,158,058		10,538,139
Investments of Consolidated CFEs	16,647,431		14,948,237
Real Assets	4,601,774		3,567,944
Equity Method - Other	5,281,515		4,846,949
Equity Method - Capital Allocation-Based Income	5,142,463		5,329,368
Other Investments	2,409,288		2,782,031
Total Investments	$	60,990,162	$	54,936,268

As of September 30, 2020 and December 31, 2019, there were no investments which represented greater than 5% of total investments.

KKR evaluates its equity method investments for which KKR has not elected the fair value option for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. During the nine months ended September 30, 2020, KKR recognized an $88.3 million impairment charge in Net Gains (Losses) from Investment Activities to reduce the carrying value of one of its equity method investments that is accounted for under the equity method of accounting to its fair value. KKR determined that the growth expectations of the investment had declined significantly and the estimated fair value of the investment had declined meaningfully. Therefore, KKR performed a valuation to determine whether the fair value of the investment had declined below its carrying value using a discounted cash flow analysis, a Level III fair value methodology. Based on the discounted cash flow analysis, KKR concluded that the fair value of its investment had declined below is carrying value and that the decline was other-than temporary.