KKR's earnings rise 20% on strong management fees, annuities business

Halifax Regional Police release Dartmouth suspect’s name and photo | SaltWire #news #novascotiaNEW YORK - Private equity firm KKR & Co Inc said on Wednesday its first-quarter adjusted net income jumped 20% year-on-year, driven by strong management and transaction fees as well as earnings from its annuities business.

KKR's earnings from investing the capital of its annuities business Global Atlantic rose 33% to $273 million. During the quarter, KKR completed the $2.7 billion deal to acquire the remaining 37% stake in Global Atlantic that it doesn't already own. KKR's private equity portfolio appreciated by 5%, opportunistic real estate funds gained 1%, and leveraged credit funds added 3%.

Source: News Formal (newsformal.com)

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