KKR & Co. had assets under management totaling $94.3 billion as of Dec. 31, a 4.5% increase from three months earlier and a 24.9% increase from a year earlier, the firm reported in its earnings release Thursday.
Committed capital yet to be invested, or dry powder, was $1.2 billion as of Dec. 31.
The firm’s private markets business had $61.2 billion in assets under management as of Dec. 31, up 2.5% from the previous quarter. New capital raised in the quarter totaled $13.6 billion, compared to distributions to limited partners in private equity funds totaling $9.2 billion.
The fair value of funds increased a total of $7.9 billion.
GAAP net income for the fourth quarter totaled $277.9 million, up 35.8% from the previous quarter and up 187% from the fourth quarter of 2012; total GAAP net income for 2013 was $691.2 million, up 23.3% from the total GAAP net income in 2012.