KKR’s assets up 28% with Prisma Capital acquisition
By Arleen Jacobius | February 7, 2013 4:20 pm
KKR & Co.'s assets under management grew to $75.5 billion as of Dec. 31, up 28% from a year earlier, according to results reported Thursday by the alternative investment firm.
The increase was attributed to the Oct. 1 closing of KKR's acquisition of hedge fund manager Prisma Capital Partners which had $8.5 billion in assets under management as of Dec. 31. KKR also raised $11 billion for the year ended 2012.
KKR's net income under generally accepted accounting principles for the year ended Dec. 31 was $560.8 million, up from $1.9 million in 2011. KKR reported $9.1 billion in total investment income in 2012, up from $1.46 billion total investment income for the year ended Dec. 31, 2011.
Private markets business assets under management were $49.1 billion for the year, up 13% from the prior year. KKR's public markets business assets under management totaled $26.4 billion at year-end 2012, up 71% from the 12 months ended Dec. 31, 2011.
Private markets earned $423.9 million in management fees at year-end 2012, down 2% from the prior year.