KKR said it has generated more than $900m in monetisation income so far in the second quarter, signalling a continued recovery in private equity exit activity after several years of subdued dealmaking, according to a report by Reuters.
The firm said monetisation income exceeded $900m through 24 June, up from $878m reported in the first quarter and 66% above its average quarterly level over the past three years.
The update comes as improving equity markets and a pickup in sponsor-backed IPO activity create more opportunities for private equity firms to return capital to investors. One of KKR’s recent exits included the May IPO of ambulance services provider GMR, which debuted on the New York Stock Exchange with a valuation of around $3bn. KKR managed $758bn in assets under management at the end of the first quarter.
