KKR Profits Rise as Asset Management Fees Jump 30 Percent
The New York-based firm reported adjusted net income of 1.39 dollars per share as management fees rose to 1.2 billion dollars. While private equity returns slowed to 1 percent, KKR raised 28 billion dollars in fresh capital to reach 758 billion dollars in assets under management.
KKR & CO INC reported adjusted net income of $1.2 billion for the first quarter, driven by a 30% jump in management fees. The United States-based firm raised $28 billion in fresh capital as dealmaking activity began to accelerate. The firm's total assets under management reached $758 billion, supported by significant inflows into its credit business.
### Fee Growth Offsets Slowing Fund Returns Management fees rose to $1.2 billion during the quarter, providing a stable revenue stream that is independent of investment performance. Adjusted net income reached $1.39 per share. Performance across individual fund strategies showed signs of cooling compared to the previous year. The traditional private equity portfolio returned 1% in the first quarter, a sharp decline from the 10% return seen over the last twelve months. Debt funds also faced pressure, with leveraged and private credit composites both returning -1% for the period.
