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

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of