KKR has reported an after-tax economic net income loss of about $553 million in 1Q, compared to a roughly $526 million profit in the same quarter last year. Additionally, the firm had after-tax cash earnings of around $169 million in the first quarter, down from $488 million in 1Q 2015. The firm noted that its unrealized losses last quarter were largely driven by First Data’s (NYSE: FDC) stock price reduction, which in turn decreased KKR’s ENI by approximately $300 million. KKR acquired the payment tech company in 2007; First Data began trading on the NYSE last year.
KKR’s private equity portfolio depreciated 0.9% for the quarter ended March 31 and appreciated by 7.7% for the last twelve months ended the same day.