KKR Swings to a Profit | Sidnaz Blog

KKR reported more than $3 billion in revenue from assessment management and over $1 billion in insurance revenue.



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brendan mcdermid/Reuters

Private-equity firm

KKR


KKR -1.10%

& Co. reported a profit in the latest quarter as it reported positive investment income and revenue.

The firm’s profit before accounting for preferred stock dividends was $1.67 billion compared with a loss of $1.28 billion a year earlier. Earnings attributable to the company per share of its common stock were $2.68 a share. A year earlier, the company had a loss of $2.31 a share.

The company reported after-tax distributable earnings per adjusted share—or cash that can be returned to shareholders—of 75 cents a share.

KKR reported $2.89 billion in total investment income for asset management. A year earlier, that was negative $3.68 billion.

Total revenue at KKR was $4.56 billion, compared with negative revenue a year earlier of $1 billion. The company reported more than $3 billion in revenue from assessment management and over $1 billion in insurance revenue. A year earlier, the firm’s revenue from asset management was negative $1 billion.

The company’s assets under management were $367.45 billion.

Blackstone Group Inc.

last month logged a record quarterly profit and

Carlyle Group Inc.

also swung to a profit for the quarter.

Write to Allison Prang at [email protected]

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