Wednesday, 23 July 2014
Last updated 6 hours ago
Feb 8 2013 | 4:13am ET
Private equity giant Kohlberg Kravis Roberts made money the old-fashioned way in the fourth quarter: on the market.
KKR said its profit jumped 22% in the last three months of last year to $347.7 million, bringing its 2012 earnings to $2.1 billion. The New York-based firm credited a 4% increase in the value of its investments on the quarter—and a 24% jump on the year—for the strong results.
The firm added that its distributable earnings rose nearly fourfold in the fourth quarter, to $546.3 million. KKR also said that its assets under management rose 13.9% to $75.5 billion.
In addition to strong profit growth in the fourth quarter, Kohlberg Kravis Roberts is enjoying strong fundraising.
The firm is poised to close its pan-Asian fund within the next few months with $6 billion. And it has raised even more for its next North America fund.
On KKR's earnings call yesterday, Scott Nuttall, head of the firm's global capital and asset management group, said the North American fund has already won $7.5 billion in commitments. The firm has extended fundraising for the vehicle to the second half of the 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…