KKR Earnings Surge as Firm Rakes In Record Cash From Investors

KKR & Co. reported a big jump in second-quarter earnings and hauled in a record amount of new cash from investors, asThe private-equity firm said net income was $1.28 billion, or $2.05 a share, for the quarter ended June 30, compared with $698.6 million, or $1.24 a share, a year earlier.

The value of KKR’s flagship private-equity portfolio climbed by 13% during the quarter, topping the roughly 8% gain for the S&P 500. Distributable earnings, or cash that can be returned to shareholders, came in at a record $925.6 million, or $1.05 a share, on an after-tax basis. That compares with $365.6 million, or 43 cents a share, in the same period a year earlier.

KKR also posted record fee-related earnings of $470.1 million, or 53 cents a share, up from $279.7 million, or 33 cents a share, in the year-ago period.

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