KKR & Co. had assets under management of $78.3 billion as of March 31, up 3.7% from the previous quarter, according to results reported Thursday by the alternative investment firm.
The increase was due to investment gains and new capital raised during the first quarter. The firm's North America Fund XI had new capital of about $900 million in the first quarter.
The investment gains and new capital were offset slightly by distributions to their funds' limited partners.
For the year ended March 31, the firm's AUM increased by 25.7%. Much of the year's increase was due to KKR closing its acquisition on Oct. 1 of hedge fund manager Prisma Capital Partners.
KKR's net income under generally accepted accounting principles for the first quarter was $193.4 million, up 1.6% from the first quarter of 2012.
Private markets business assets under management were $50.3 billion as of March 31, up 2.4% from the previous quarter.
Assets under management for KKR's public markets business totaled $27.9 billion at year-end 2012, up 5.7% from the previous quarter.
