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Thursday, April 24, 2014

Private equity firm KKR's Q1 earnings drop 3 percent on fund values, (NYSE: BX), (NYSE: TRI), (TSE: TRI.TO)

Private equity firm KKR & Co LP on Thursday reported a 3 percent year-on-year drop in first-quarter profit due to a lower appreciation of its investments, overshadowing a near-doubling in fees it received for managing assets and doing deals. The drop in KKR's earnings, however, was much less than most analysts expected, and the firm's first-quarter dividend, up 59 percent year-on-year on higher proceeds from asset sales, also exceeded most analysts' forecasts.KKR's private equity funds appreciated by 4.5 percent in the quarter, more than the wider market but less than the 7 percent appreciation of peer Blackstone Group LP's takeover funds in the same quarter and the 5.9 percent appreciation KKR saw in the first quarter of 2013.Economic net income (ENI), KKR's headline earnings metric that takes into account the mark-to-market valuation of its assets, was $630.3 million in the first quarter of 2014, down from $647.7 million a year ago, the New York-based firm said.This translated into after-tax ENI of 82 cents per adjusted share versus the average 52 cents forecast by analysts in a Thomson Reuters poll.

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 1.4% or $-0.46/share to $32.16. In the past year, the shares have traded as low as $19.15 and as high as $35.39. On average, 5962460 shares of BX exchange hands on a given day and today's volume is recorded at 4563230.

Thomson Reuters Corporation (Thomson Reuters), is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.81% or $-0.28/share to $34.41. In the past year, the shares have traded as low as $31.38 and as high as $38.73. On average, 840058 shares of TRI exchange hands on a given day and today's volume is recorded at 532137.

Thomson Reuters Corporation (Thomson Reuters), is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.89% or $-0.34/share to $37.92. In the past year, the shares have traded as low as $33.02 and as high as $42.10. On average, 974842 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 662766.



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