KKR shares rise as quarterly profit hits record high

** New York-based asset manager KKR KKR.N shares rise 2% to $98.4 premarket after posting record quarterly profit

** Q3 adj. net income jumps 29% to $1.6 bln, or $1.78 per share, beating analysts' average estimate of $1.59, according to data compiled by LSEG

** Fee-related earnings jump 27% to hit a record $1.32 bln, topping estimates of $1.24 bln - LSEG data

** Q3 asset sales include data center cooling company CoolIT Systems and private aviation infrastructure platform Atlantic Aviation.

** Co expects to return more than $40 bln to clients, over 50% above its previous annual record.

** KKR raises $25 billion in new capital, pushing assets under management above $800 bln

** Average rating of 20 of 24 analysts is "buy" and above, 4 "hold"; their median PT is $122 - LSEG

** Up to last close, stock has fallen 24.3% YTD