KKR rebounds with $656m Q3 profit

KKR's assets under management have grown from $50.8bn to $54.8bn in the quarter, fees rising from $54.3m to $61.5m, and private equity affiliate KKR Guernsey – previously known as KKR Private Equity Partners (KPE) – growing its net asset value from $3bn to $3.5bn. KKR and KPE merged at the beginning of October, after which KKR listed on Euronext.

Private equity activities accounted for $652.5m of total revenues, representing a $1.1bn rebound on the $478m loss for the same quarter 2008, indicating that the asset class may be starting to stabilise.

The firm said that it had invested $1.1bn of private equity capital during the quarter, and had uncalled commitments of $14.2bn as of 30 September.

Joint CEOs Henry R Kravis and George R Roberts said, “While we continue to face difficult economic conditions, we are also observing signs of improving trends, particularly as it relates to debt and equity capital markets. We are seeing interesting situations to invest capital all over the world, across various industries, and throughout the capital structure.

KKR now says that it is considering listing on the New York Stock Exchange or NASDAQ.

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