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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.

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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