KKR Reports Good Third Quarter With Healthy Assets Under Management Growth and Fund Performance
KKR reported a good third quarter, in our view, and we plan to maintain our $18 fair value estimate and narrow moat rating. The firm executed well on all fronts this quarter, as assets under management increased 17% over last year to $131 billion, helped by $28 billion in inflows across a diverse range of strategies including leveraged credit and energy. Further, KKR invested about $3.7 billion during the quarter, nearly twice last year’s $2.2 billion, while year-to-date fund performance has in ...KKR & Co. is an investment firm, engaged in managing investments across various asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. The company's segments are: Private Markets, which manages and sponsors private equity funds and co-investment vehicles that invest for long-term appreciation, and manages and sponsors a group of funds and co-investment vehicles that invest in real assets; Public Markets, which operates its combined credit and hedge funds businesses; Capital Markets, which is comprised of its global capital markets business; and Principal Activities, which manages the firm's own assets and deploys capital to support its businesses.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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