KKR & Co. reported fee-paying assets under management of $42.7 billion in the third quarter, up 2.5% from three months earlier but down 5% from a year earlier, the company said in its quarterly earnings statement Wednesday.
The quarterly asset increase was credited to changes in foreign exchange related to euro-denominated commitments, new capital raised and increases in net asset values in KKR’s public markets unit.
Overall AUM as of Sept. 30 totaled $55.5 billion, an increase of 2% from June 30, according to a news release from the firm.
Fee-paying assets in KKR’s private markets segment totaled $36 billion as of Sept. 30, 2% higher than the previous quarter, while its public markets segment saw $6.7 billion in fee-paying assets, 5.5% above the previous quarter.
KKR said it had $12.5 billion in uncalled capital commitments to funds in its private markets business as of the end September.
The company’s profit in the third quarter fell 61% to $317.3 million as it booked smaller gains on its private equity investments. Fee-related earnings climbed 3.7% to $69.5 million.
Bloomberg contributed to this story.