KKR RE Select Trust — KKR Alternative Assets (10%) Receives 67,214 Shares

What Happened
KKR Alternative Assets LLC, reported as a 10% owner, acquired 67,214.074 shares of KKR Real Estate Select Trust Inc. on July 31, 2026. The shares were recorded at $22.74 each for a total value of $1,528,448. This was an acquisition by issuance as payment for management and/or incentive fees — not an open-market purchase.

Key Details

• Transaction date and code: 2026-07-31; transaction coded “J” (other acquisition/disposition).
• Price and amount: 67,214.074 shares at $22.74 per share; total value $1,528,448.
• Shares owned after transaction: not specified in this Form 4.
• Filing date/timeliness: Form filed 2026-08-04 (filed within the typical 2-business-day Form 4 window for a 7/31 trade).
• Notable footnotes:
  • The shares were issued as payment for management/incentive fees under the investment advisory agreement; KKR Registered Advisor LLC directed that KKR Alternative Assets LLC receive the shares on its behalf.
  • The filing discloses the KKR corporate ownership chain (KKR Alternative Assets LLC → KKR Group entities → KKR & Co. Inc.) and includes a disclaimer that the reporting persons disclaim beneficial ownership except for pecuniary interest.

Context
This was an institutional issuance of shares as fee payment to an affiliate of KKR, not trading by an individual officer or director. Such fee-issued shares are routine accounting/compensation events and do not necessarily signal insider sentiment about the stock.