Friday, 26 December 2014
Last updated 2 days ago
Apr 24 2014 | 1:55pm ET
Lower returns cut into Kohlberg Kravis Roberts’ first-quarter earnings, even as its fee income soared.
KKR said its economic net income for the year’s first three months was $630.3 million, 3% lower than in the year-earlier period. The decline was attributed to the firm’s private equity funds, which returned 4.5% on the quarter, compared to 7% in the first quarter of last year.
Still, the profit was enough to top analysts’ estimates, and KKR’s other numbers were much more impressive.
The firm’s fee-related earnings rose by nearly three-quarters to $151.7 million, as assets under management jumped to $102.3 billion from $94.3 billion at the end of last year. KKR said it would pay a 43 cent dividend for the quarter, nearly 60% higher than last year.
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.