{"id":106743,"date":"2021-02-11T03:51:27","date_gmt":"2021-02-11T03:51:27","guid":{"rendered":"https:\/\/fin2me.com\/?p=106743"},"modified":"2021-02-11T03:51:27","modified_gmt":"2021-02-11T03:51:27","slug":"kkr-beats-estimates-with-15-rise-in-fourth-quarter-earnings","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/kkr-beats-estimates-with-15-rise-in-fourth-quarter-earnings\/","title":{"rendered":"KKR beats estimates with 15% rise in fourth-quarter earnings"},"content":{"rendered":"<figcaption>FILE PHOTO: Trading information for KKR &#038; Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS\/Brendan McDermid<\/figcaption><p>(Reuters) &#8211; KKR &amp; Co Inc said on Monday its after-tax distributable earnings rose 15% year-on-year in the fourth quarter, driven by growth in management and transaction fees from its capital markets business.<\/p>\n<p>KKR\u2019s after-tax distributable earnings (DE) \u2013 the cash used to pay dividends to shareholders \u2013 rose to $431 million from $375.1 million a year earlier. This translated to DE per share of 49 cents, surpassing the average analyst estimate of 41 cents, according to data from Refinitiv.<\/p>\n<p>Last month, KKR rival Blackstone Group Inc reported a 60% rise in fourth-quarter distributable earnings, while Carlyle Group Inc said last week its earnings climbed 38% year-on-year. Apollo Global Management Inc posted a smaller-than-expected drop of 30% in fourth-quarter distributable earnings.<\/p>\n<p>KKR said its private equity portfolio rose 32% during the quarter, while real estate and infrastructure funds gained 8% and 3%, respectively. Its leveraged credit funds rose by 7%.<\/p>\n<p>In the fourth quarter, KKR said net income reached $1.47 billion under generally accepted accounting principles (GAAP), driven by a sharp rise in investment gains.<\/p>\n<p>Total assets under management rose to $252 billion from $233.8 billion as of the end of September. KKR expects its assets under management to reach $342 billion following the completion of its $4.4 billion acquisition of annuities and life insurance provider Global Atlantic Financial Group Ltd.<\/p>\n<p>KKR, which ended the quarter with $67 billion of unspent capital, declared a dividend of $0.135 per share.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-kkr-results\/kkr-beats-estimates-with-15-rise-in-fourth-quarter-earnings-idUSKBN2A82IL\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: Trading information for KKR &#038; Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":106742,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>KKR beats estimates with 15% rise in fourth-quarter earnings - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/kkr-beats-estimates-with-15-rise-in-fourth-quarter-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KKR beats estimates with 15% rise in fourth-quarter earnings - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: Trading information for KKR &#038; 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