BUZZ-KKR shares rise as quarterly profit hits record high

November 9 - ** Asset management company KKR KKR.N, headquartered in New York, saw its shares rise (link) 2% in pre-market trading to $98.4 after announcing record quarterly profits

** According to data compiled by London Stock Exchange Group (LSEG), adjusted net profit for the third quarter jumped 29% to $1.6 billion, or $1.78 per share, exceeding analysts’ average forecast of $1.59 per share

** LSEG data shows that fee-related earnings surged 27% to a record $1.32 billion, beating the expected $1.24 billion

** Asset sales in the third quarter included data center cooling company CoolIT Systems and private aviation infrastructure platform Atlantic Aviation.

** The company expects to return more than $40 billion to clients, over 50% higher than its previous annual record.

** KKR raised $25 billion in new capital, pushing its assets under management above $800 billion

** Of 24 analysts, 20 give an average rating of “buy” or above, with 4 recommending “hold”; the median target price is $122 — LSEG

** As of the close of the previous trading day, the share had fallen 24.3% year-to-date

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