KKR & CO. L.P. (KKR, Financial) filed Quarterly Report for the period ended 2010-09-30.
Kkr & Co. L.p. has a market cap of $2.71 billion; its shares were traded at around $13.22 . The dividend yield of Kkr & Co. L.p. stocks is 2.4%.KKR is in the portfolios of Kenneth Fisher of Fisher Asset Management, LLC.
From our inception through September 30, 2010, we have raised 17 funds with approximately $60.0 billion of capital commitments and have sponsored a number of fee and carry paying co-investment structures that allow us to commit additional capital to transactions. We have grown our AUM in this segment significantly in recent years, from $14.4 billion as of December 31, 2004 to $41.9 billion as of September 30, 2010, representing a compound annual growth rate of 20.4%. As of September 30, 2010, we had $12.5 billion of uncalled commitments to investment funds and vehicles in this segment, providing a significant source of capital that may be deployed globally.
As of September 30, 2010, the segment had $13.6 billion of AUM, including $1.1 billion of assets managed in a publicly traded specialty finance company, $7.9 billion of assets managed in structured finance vehicles and $4.6 billion of assets managed in other types of investment vehicles and separately managed accounts. As of September 30, 2010, we had $1.3 billion of uncalled commitments to investment funds and separately managed accounts in this segment.
In connection with and subsequent to the Transactions, our principals and other employees received equity and equity based awards in KKR Holdings. The awards were granted in connection with the Transactions and were issued in exchange for interests that our Predecessor Owners contributed to our holding companies as part of the Transactions as well as to promote broad ownership of our firm among our personnel and further align their interests with those of our investors. We believe that grants to our principals and other employees, which include vested and unvested interests in the KKR Group Partnerships, provide an additional means for allowing us to incentivize, motivate and retain qualified professionals that will help us continue to grow our business over the long-term. For the three and nine months ended September 30, 2010, non-cash employee compensation and benefits recognized in connection with the equity grants amounted to $153.5 million and $508.4 million, respectively.
In addition, interests in KKR Holdings were granted to our operating consultants in connection with and subsequent to the Transactions. The vesting of these interests gives rise to periodic general, administrative and other expense in the statements of operations. General, administrative and other expense recognized on unvested units is calculated based on the fair value of an interest in KKR Holdings (determined using the closing price of KKR's common units) on each reporting date and subsequently adjusted for the actual fair value of the award at each vesting date. Accordingly, the measured value of these interests will not be finalized until each vesting date. Additionally, the calculation of the compensation expense assumes a forfeiture rate of up to 3% annually based upon expected turnover. For the three and nine months ended September 30, 2010, general, administrative and other expense recognized for the equity grants amounted to $37.5 million and $99.8 million, respectively.
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Kkr & Co. L.p. has a market cap of $2.71 billion; its shares were traded at around $13.22 . The dividend yield of Kkr & Co. L.p. stocks is 2.4%.KKR is in the portfolios of Kenneth Fisher of Fisher Asset Management, LLC.
Highlight of Business Operations:
With over 650 people, we conduct our business through 14 offices on four continents, providing us with a pre-eminent global platform for sourcing transactions, raising capital and carrying out capital markets activities. We have grown our AUM significantly, from $15.1 billion as of December 31, 2004 to $55.5 billion as of September 30, 2010, representing a compounded annual growth rate of 25.3%. Our growth has been driven by value that we have created through our operationally focused investment approach, the expansion of our existing businesses, our entry into new lines of business, innovation in the products that we offer investors, an increased focus on providing tailored solutions to our clients and the integration of capital markets distribution activities.From our inception through September 30, 2010, we have raised 17 funds with approximately $60.0 billion of capital commitments and have sponsored a number of fee and carry paying co-investment structures that allow us to commit additional capital to transactions. We have grown our AUM in this segment significantly in recent years, from $14.4 billion as of December 31, 2004 to $41.9 billion as of September 30, 2010, representing a compound annual growth rate of 20.4%. As of September 30, 2010, we had $12.5 billion of uncalled commitments to investment funds and vehicles in this segment, providing a significant source of capital that may be deployed globally.
As of September 30, 2010, the segment had $13.6 billion of AUM, including $1.1 billion of assets managed in a publicly traded specialty finance company, $7.9 billion of assets managed in structured finance vehicles and $4.6 billion of assets managed in other types of investment vehicles and separately managed accounts. As of September 30, 2010, we had $1.3 billion of uncalled commitments to investment funds and separately managed accounts in this segment.
In connection with and subsequent to the Transactions, our principals and other employees received equity and equity based awards in KKR Holdings. The awards were granted in connection with the Transactions and were issued in exchange for interests that our Predecessor Owners contributed to our holding companies as part of the Transactions as well as to promote broad ownership of our firm among our personnel and further align their interests with those of our investors. We believe that grants to our principals and other employees, which include vested and unvested interests in the KKR Group Partnerships, provide an additional means for allowing us to incentivize, motivate and retain qualified professionals that will help us continue to grow our business over the long-term. For the three and nine months ended September 30, 2010, non-cash employee compensation and benefits recognized in connection with the equity grants amounted to $153.5 million and $508.4 million, respectively.
In addition, interests in KKR Holdings were granted to our operating consultants in connection with and subsequent to the Transactions. The vesting of these interests gives rise to periodic general, administrative and other expense in the statements of operations. General, administrative and other expense recognized on unvested units is calculated based on the fair value of an interest in KKR Holdings (determined using the closing price of KKR's common units) on each reporting date and subsequently adjusted for the actual fair value of the award at each vesting date. Accordingly, the measured value of these interests will not be finalized until each vesting date. Additionally, the calculation of the compensation expense assumes a forfeiture rate of up to 3% annually based upon expected turnover. For the three and nine months ended September 30, 2010, general, administrative and other expense recognized for the equity grants amounted to $37.5 million and $99.8 million, respectively.
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