Private Equity

KKR profit dips but private equity giant backs diversification strategy

The New York firm remains bullish on its long-term return prospects, saying that despite challenging market conditions it isn’t a forced seller

Private equity firm KKR’s after-tax distributable earnings fell 26% in the March quarter, reflecting a broader slowdown in investment sales.

“We are not forced sellers,” chief financial officer Robert Lewin said during a conference call with analysts to discuss the firm’s results. Much of the firm’s capital is locked up for eight years or more, he said.

WSJ Logo
Bank of New York Mellon Approached Northern Trust to Discuss Potential MergerExternal link

Bank of New York Mellon Approached Northern Trust to Discuss Potential Merger