Thursday, 31 July 2014
Last updated 16 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.
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…