Wednesday, 1 April 2015
Last updated 2 hours ago
May 4 2011 | 11:43am ET
Kohlberg Kravis Roberts posted a 10% increase in first-quarter profits as its private-equity business booms, the firm said today.
New York-based KKR said its net income rose to $742.5 million for the first three months of the year. That figure excludes some costs related to its initial public offering in 2009; under generally accepted accounting principles, KKR earned $159.6 million, easily topping analysts' estimates.
Much of its boost can be attributed to KKR's flagship p.e. business, which saw its profits jump 41% to $276.7 million as p.e. investments rose 6.5% on the quarter. That helped push assets under management up 12% to $61 billion and fee income up 12% to $110.3 million.
"The first quarter represented a good start to 2011 for each of our businesses," co-CEOs Henry Kravis and George Roberts said. "In particular, this quarter's strong financial results benefited from a growing number of monetization and exit events across our private equity portfolio, which generated the most distributable cash carry we have had in a quarter since going public."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…