Private equity firm KKR & Co on Friday reported a smaller-than-expected third-quarter loss thanks partly to its second-best quarterly fee-related performance since it went public.Like takeover competitors Blackstone Group LP and Apollo Global Management LLC , KKR has suffered from a slump in the value of its private equity funds as weak financial markets drag down asset valuations.The firm boasted a 41 percent year-on-year increase in fee-related income, boosted by a record quarter in its capital market business."Fees were up, which is big positive, but also their unrealized markdowns were less than their peers," said Sandler O'Neill & Partners analyst Michael Kim.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO traded higher by 0.61% or $0.08/share to $13.12. In the past year, the shares have traded as low as $9.50 and as high as $19.00. On average, 316520 shares of APO exchange hands on a given day and today's volume is recorded at 50183.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 1.13% or $-0.16/share to $14.04. In the past year, the shares have traded as low as $11.22 and as high as $19.63. On average, 4889940 shares of BX exchange hands on a given day and today's volume is recorded at 455103.
