As one of the largest exemplars of private markets investing, the fortunes of KKR and its peers are something of a barometer of this field.

Kohlberg Kravis Roberts, aka KKR, yesterday reported net income of $844.4 million for the three months to the end of June, swinging back into the black after posting a net loss of $734.6 million a year before.

Along with Carlyle and Blackstone, the US-listed group is one of the world’s largest private market investment houses, and its performance can be something of a bellwether for the sector as a whole.

The result came on the back of a surge in total revenues, standing at $3.626 billion in Q2, up from $323.4 million a year before. Total costs also rose over the period, from $3.122 billion to $564.7 billion, KKR said in a statement. 

Fee-related earnings stood at $602 million, a rise of 31 per cent year-on-year. Book value per adjusted share (BVPS) was 28.17 at June 30.

Total assets under management were $519 billion, rising by 6 per cent on a year ago. Fee-paying AuM was $420 billion, up 9 per cent. The firm had uncalled commitments of $100 billion; and raised $13 billion in the quarter. In Q2, $10 billion was invested, it said.