KKR & Co. raised a record $44 billion in new capital in 2020 and invested a record $12.5 billion during the fourth quarter as the private equity company took advantage of deal-making opportunities during the coronavirus pandemic.

KKR’s (KKR) fundraising for 2020 popped 72% year-on-year. The private equity firm’s flagship private equity funds posted a gross return of 32% last year. After-tax distributable earnings per adjusted share in 4Q increased 11% to $0.49 year-on-year, exceeding analysts’ expectations of $0.41 as transaction and management fees leaped.

In 2020, assets under management grew 15% to $252 billion and to $342 billion, if the acquisition of life insurance company Global Atlantic Financial Group is included, which was completed on Feb. 1. Management fees in the fourth quarter jumped 24% year-on-year.

Additionally, KKR announced plans to ramp up its regular annualized dividend per share from $0.54 to $0.58.

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Source: Yahoo Finance

By Ben Mahaney