KKR's Q2 Earnings Show 23% Decline, But Less Severe Than Predicted

Private equity firm KKR & Co Inc reported a milder-than-expected 23% drop in Q2 earnings, with after-tax distributable earnings falling to $652.6 million. The decline was attributed to a slump in asset sales, which dropped nearly 80% to $146.2 million due to higher interest rates, inflation, and volatility. However, fee-related earnings rose by nearly 31% to $602.3 million, driven by increased fees for syndicating debt. KKR's net income under GAAP was $844.4 million, compared to a net loss of $734.6 million in the previous year, and total assets under management rose to $519 billion.