KKR profit dips but private equity giant backs diversification strategy
The New York firm remains bullish on its long-term return prospects, saying that despite challenging market conditions it isn’t a forced seller
Private equity firm KKR’s after-tax distributable earnings fell 26% in the March quarter, reflecting a broader slowdown in investment sales.
“We are not forced sellers,” chief financial officer Robert Lewin said during a conference call with analysts to discuss the firm’s results. Much of the firm’s capital is locked up for eight years or more, he said.
Lewin...
