Sunday, 28 December 2014
Last updated 3 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.