Sunday, 19 April 2015
Last updated 5 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…