Wednesday, 6 May 2015
Last updated 19 hours ago
Feb 7 2014 | 2:05pm ET
Kohlberg Kravis Roberts' fourth-quarter profit more than doubled compared to 2012, as its share of its funds' profits also more than doubled.
KKR's economic net income for the quarter was $789.6 million, 127% higher than the $347.7 million it reported in the year-earlier period. Under generally-accepted accounting principles, KKR's profit soared 187% to $277.9 million, giving it a 23% jump over the full year.
"We continue to see progress across our capital-raising, investment performance, monetization and strategic initiatives," firm co-founders Henry Kravis and George Roberts said.
Carried-interest rose from $152.7 million in the fourth quarter of 2012 to $347.8 million in the last quarter. But distributable earnings fell 6.6% to $510.4 million.
KKR said it would pay a $0.48 dividend for the fourth quarter. It paid more dividends in 2013—$1.40—than ever before.
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…