With its holdings growing to more than what many analysts foresaw, KKR & Co LP (KKR.N), a firm for equities that are private, posted a year to year decline percentage of 27, in profit for the third quarter, which was lower-than-expected on Thursday however it made more money by going out of its investments.
The steep profit drop of KKR, differentiatiating it from similar business like Carlyle Group (CG.O), Blackstone Group (BX.N) and others, was triggered by the company’s private equity investments and its lower appreciation. Compared to the the July to September increase of 2013 which was a percentage of 5.9, its portfolio, that quarter, of private equity went up 2.2 percent.
A sale of the holdings of Ipreo LLC for $975 million, a markets software manufacturer to the group of Goldman Sachs Inc’s division for banking of merchants and Blackstone as well as the transaction of a portion of the company’s stake in Visma AS, a software company to buyout Cinven Ltd were a part of the divestments of KKR.
In this third quarter, the company posted a 45 cents per common unit dividend.