KKR reports 42% drop in earnings on lower asset sales

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KKR reports 42% drop in earnings on lower asset sales
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KKR & Co Inc said on Tuesday its fourth-quarter after-tax distributable earnings dropped 42% year-on-year, driven by asset sale declines in its private equity portfolio and lower transaction fees in the capital markets division.

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Even with the slowdown in asset sales, KKR expects to boost profit from divestments in the first quarter to $250 million, KKR Chief Financial Officer Robert Lewin said during an analyst earnings call on Tuesday.

had reported that its opportunistic and core real estate funds depreciated by 2% and 1.5%, respectively, while its corporate private equity funds gained 3.8%.

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