KKR posted a 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.

"Our continued return of capital to clients led to our strongest monetization quarter ever and helped drive record new capital inflows over the past 12 months," Co-Chief Executives Joseph Bae and Scott Nuttall said Thursday.

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 according to analysts polled by FactSet.

Fee-related earnings jumped to $1.21 billion from $886.8 million in the year-earlier period, with management fees up more than 25%.

Revenue climbed to $5.73 billion from $5.09 billion a year earlier. 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.

Revenue from its asset management and strategic holdings segment climbed to $2.2 billion from $1.84 billion.

The firm said assets under management rose 16% to $796 billion, compared with analysts' estimate of $785.8 billion. Fee-paying assets increased 15% to $638 billion.

KKR raised $34 billion in organic new capital in the quarter and invested $24 billion.

Dry powder, which is unspent capital available for future investments, stood at $143 billion, the firm said.