Monday, 29 December 2014
Last updated 20 min 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.
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.