Summary
KKR & Co. Inc. (KKR) filed its 2013 10-K on February 23, 2014, reporting on its activities as of December 31, 2013. The company demonstrated strong growth and performance across its segments. Total Assets grew to $51.4 billion, with Assets Under Management (AUM) reaching $94.3 billion across its Private Markets ($61.2 billion) and Public Markets ($33.1 billion) segments. The firm's Fee Related Earnings (FRE) indicated robust operational profitability in its management and capital markets businesses. Net Income Attributable to KKR & Co. L.P. for 2013 was $691.2 million, a significant increase from $560.8 million in 2012, reflecting strong investment performance and growth in fee-generating assets. The company's strategic focus on expanding its offerings into real assets and credit, alongside its core private equity business, positions it for continued growth. Key performance indicators like Fee Paying Assets Under Management (FPAUM) also showed positive trends, indicating a solid base for recurring management fees. KKR highlighted the strength of its investment strategies, particularly in Private Markets, where its funds generated a cumulative gross IRR of 25.7% from inception through December 31, 2013, outperforming major market indices. The company's balance sheet strength was evident with $2.2 billion in cash and short-term investments, supporting its ongoing operations and strategic initiatives, including the announced acquisition of Avoca Capital and the pending merger with KKR Financial Holdings LLC (KFN). The report also detailed KKR's commitment to aligning interests with its principals and investors through equity ownership and carried interest structures, while managing risks through robust governance and compliance frameworks.
Financial Highlights
28 data points| Interest Expense | $99.62M |
| Net Income | $691.23M |
Key Highlights
- 1Total Assets reached $51.4 billion by December 31, 2013, with $94.3 billion in Assets Under Management (AUM).
- 2Net Income Attributable to KKR & Co. L.P. was $691.2 million for the year ended December 31, 2013, up from $560.8 million in 2012.
- 3Private Markets segment AUM grew to $61.2 billion, driven by new capital raised and appreciation in portfolio companies.
- 4Public Markets segment AUM increased to $33.1 billion, largely due to acquisitions and new capital inflows.
- 5Fee Related Earnings (FRE) and Economic Net Income (ENI) demonstrated the firm's profitability across its business segments.
- 6KKR's private equity funds achieved a cumulative gross IRR of 25.7% from inception through December 31, 2013, significantly outperforming market benchmarks.
- 7The company reported $2.2 billion in cash and short-term investments, indicating strong liquidity.