Saturday, 4 July 2015
Last updated 23 hours ago
Feb 9 2012 | 2:00pm ET
The fourth quarter wasn't kind to Kohlberg Kravis Roberts.
The private equity giant said its fourth-quarter economic net income fell 68% year-on-year to $225.5 million. Including charges excluded under that measure, the firm's profit actually fell 74% to $46.1 million.
KKR blamed sharply lower income from its p.e. funds and lower appreciation from the same. But its fee-based earnings actually rose 22.6% to $116.6 million.
"We had a very strong quarter to finish the year, and overall had a strong year," Scott Nuttall, KKR's head of global capital markets and asset management, said.
The firm managed $59 billion at the end of last year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…