KKR & Co. passed $500 billion in assets under management during the fourth quarter even as earnings fell 41% on sluggish asset sales.
The New York-based firm raised $16 billion of new capital in the quarter to reach $504 billion in AUM, it said Tuesday in a statement. Distributable earnings fell to $822 million, or 92 cents a share, from $1.4 billion, or $1.59, a year earlier. That beat the 85-cent average estimate of 14 analysts surveyed by Bloomberg.
