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Alternatives

KKR’s AUM flat for quarter, up 16% for year

KKR & Co. reported assets under management of $194.7 billion as of Dec. 31, flat from three months earlier, but up 16% from a year earlier, according to the alternative investment firm's earnings release Friday.

KKR attributed the increase in assets for the year primarily to new capital raised. In the fourth quarter alone, KKR closed on $11.3 billion in new capital, mainly for private equity and leveraged credit strategies. These increases were offset by a decrease in the value of KKR's private equity portfolio and various credit strategies and distributions to private equity and public market investors.

KKR's private markets AUM was $103.4 billion as of Dec. 31, flat from Sept. 30, but up 6.1% from Dec. 31, 2017. Public markets AUM was $91.3 billion as of Dec. 31, flat from three months earlier, but up 28.8% from 12 months earlier.

KKR's management fees were $279.4 million for the fourth quarter, up 10.1% from the third quarter and up 19.2% from the fourth quarter of 2017. Transaction fees were $367.7 million for the fourth quarter, up 27.2% from the previous quarter and up 85.1% from the year-earlier quarter. Monitoring fees were $24.4 million for the fourth quarter, up 20.8% from the previous quarter and up 6.6% from the year-earlier quarter.

Total realized performance income was $345.7 million in the fourth quarter, down 20.1% from the third quarter and down 7.5% dip from the fourth quarter of 2017.

KKR had a GAAP net loss of $1.1 billion for the quarter, compared with net income of $640.2 million in the previous quarter and $514.7 million in net income for the year-earlier quarter.