KKR assets slip in 2nd quarter on distributions
By Arleen Jacobius | July 27, 2012 3:57 pm
KKR & Co. had $61.5 billion in assets under management as of June 30, down 1.3% from $62.3 billion three months earlier, according to the firm's earnings report Friday.
The decrease in assets under management was primarily attributed to limited partners' distributions, largely offset by investment appreciation and new capital raised during the quarter. During the last quarter, KKR closed a more than $1 billion infrastructure fund and a $1.25 billion natural resources fund.
KKR's net income under GAAP was $146.3 million for the quarter and $336.7 million for the six months ended June 30, up from $39.6 million for the quarter and $199.2 million for the six months ended March 31.