Sunday, 21 September 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.