Sunday, 24 May 2015
Last updated 2 days 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.
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…