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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...