KKR assets rise 3.3% in quarter, 7.5% for year

KKR & Co reported $206 billion in assets under management at the end of the second quarter, a 3.3% increase from March 31 and up 7.5% from a year ago, according to the alternative investment firm's earnings release Thursday.

KKR attributed the increase in assets for the year primarily to $6.5 billion in new capital raised as well as an increase in the value of its private equity portfolio.

The increases were offset by realizations and distributions to limited partners in its private equity portfolio and distributions in some of its public markets strategies.

KKR's private market AUM was $112 billion as of June 30, up from 3.6% from March 31 and a 6.5% increase from 12 months earlier. Public market AUM was $93.6 billion as of June 30, rising 2.4% from March 31 and 5.3% from June 30, 2018.

KKR's management fees were $303 million for the second quarter, a 3.7% gain from the first quarter and a 15.9% rise from the quarter ended June 30, 2018. Transaction fees were $303.8 million for the second quarter, a 62.7% climb from the first quarter and a 85.4% jump from the year-earlier quarter. Monitoring fees were $26.4 million in the second quarter, up 2.7% from the first quarter and 3.9% from the quarter ended June 30, 2018.

Total realized performance income was $233.7 million for the second quarter, down 33.2% from the prior quarter and a 35% drop from the year-earlier quarter.

KKR reported GAAP net income of $514.4 million for the quarter, compared to $701 million for the prior quarter and $680.4 million for the quarter ended June 30, 2018.