Friday, 28 November 2014
Last updated 10 hours ago
Nov 14 2007 | 7:22am ET
Private equity giant Kohlberg Kravis Roberts, preparing for an initial public offering, said yesterday that its net income rose 26% in the first half as leveraged buyout activity soared.
KKR said in a filing with a Securities and Exchange Commission that profits rose to $667.4 million from $529 million in the year-earlier period, as assets under management soared 89% to $45.1 billion. Strong investment performance—investment income rose 69% to $3.4 billion during the period—offset a decline in fee income due to lower transaction fees. KKR earned $115.4 million in fees, a 26% drop from last year.
“Financing leveraged buyout transactions by issuing high-yield debt securities in the public capital markets has recently become more costly and restrictive,” according to the filing.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...