KKR & Co. reported $148 billion in assets under management as of June 30, up 8% from March 31 and up 13% from a year earlier, according to the alternative investment firm's earnings report released Thursday.
KKR attributed the increase to new capital raised and an increase in value of its private equity and credit businesses. These increases were partially offset by private equity fund distributions to limited partners and distributions made by its public markets business.
KKR raised about $25 billion in the year ended June 30. The firm as a whole reported net gains from investment activities of $418.4 million, down 25% from $558.4 million for the quarter ended March 31 and a leap from $9.2 million for the year-earlier quarter.
KKR reported total performance income from incentive fees and carried interest of $267.3 million as of June 30, up 29% from $207.9 million for the quarter ended March 31 and down 14% from $310 million for the year-earlier quarter.
KKR's private markets business AUM was $85 billion as of June 30, up 6% from $80.2 billion from the previous quarter and up 16% from a year earlier. KKR's public markets business segment had assets of $63.5 billion, an 11% increase from $57.4 billion as of March 31, and up 14% from $55.6 billion June 30, 2016.
Management fees for the quarter ended June 30 were $229.6 million, up 10% from the first quarter and up 13% from $203.6 million in the year-over-year quarter. Monitoring fees were $30.5 million, up 129% from $13.3 million in the first quarter and up 5% from $29 million in the quarter ended June 30, 2016. Transaction fees were $156.5 million, down 46% from $243 million as of March 31, and up 128% from $68.6 million in the second quarter of 2016.
KKR gave fee credits of $51.3 million, compared to $89 million in the first quarter, and $39.1 million in the quarter ended June 30, 2016.