KKR Posts Third Quarter Loss

Nov 4 2011 | 10:24am ET

The third quarter was not been kind to publicly-listed private equity firms, and Kohlberg Kravis Roberts is no exception.

New York-based KKR suffered a $592.1 million pretax economic net income loss, it said today, following similar loss announcements by Fortress Investment Group, Apollo Global Management and the Blackstone Group. The firm had earned $317.3 million in the year-earlier period.

KKR said its investment income was a negative $688.5 million on the quarter, reflecting the write-down of its private equity assets by 8.5%. Fee earnings actually rose by more than 40% to $98.2 million, but were overwhelmed by KKR's market losses.

KKR's assets under management dipped 5.2% on the quarter to $58.7 billion.


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...