KKR Profit Up In Q1

Apr 30 2012 | 1:53pm ET

Despite markedly lower fee income, Kohlberg Kravis Roberts managed a modest increase in its first-quarter profit.

The New York-based private equity giant said its income for the first three months of the year was $683.8 million, 5% more than the year-earlier period. Strong investment performance was credited, since KKR's fee-related earnings dropped 42% to $73.4 million.

The firm, which said its assets have grown to a record $62.3 billion, blamed the dramatic drop in fee income on slow deal activity; KKR closed just two during the quarter.

"This was a slow quarter when it comes to new investments," executive Scott Nuttall said. "We're seeing some volatility, but also some great opportunity."

KKR's economic net income of 99 cents per share easily topped analysts' expectations.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain Capital: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of