Wednesday, 30 July 2014
Last updated 13 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…