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KKR's Earnings Plunge On Valuations

Private equity firm KKR & Co LP reported a sharp decline in fourth-quarter earnings as a drop in carried interest, driven by mark-to-market valuations of its assets, offset revenue from higher fees. The earnings fell short of analysts' expectations and are a reminder of the challenges private equity groups face once they are public. Even when cash flows are growing, the firms may show weaker profits on paper, all because of the different nature of their sources of revenue. read more
Mentions: Blackstone Blackstone Group Thomson Reuters