Alternative asset manager, KKR & Co. L.P. (NYSE:KKR) also increased considerably in the quarter, posting a +23.36% gain. KKR delivered an earnings beat and to attract new investors, the company announced that it would be converting to a corporation from a partnership, effective July 1, 2018. In our view, this change simplifies the structure, broadens investor appeal, and translates to possible inclusion in the major indexes.
From John Rogers (Trades, Portfolio)' Ariel Fund second quarter 2018 shareholder letter.
