Private-equity firm KKR & Co. reported its second loss in quarterly earnings in less than a year on Monday as volatile financial markets dragged on the value of its investments.
The New York-based asset manager posted an economic net loss of $0.65 between January and March, after earning an economic net income of $0.62 a year ago. Analysts had expected an economic net loss of $0.35 in the quarter, according to Thomson Reuters I/B/E/S.
The company's stock closed down more than 3 percent. (Click here for the latest quote.)
ENI is a key earnings metric for U.S. private equity firms that accounts for unrealized gains or losses in investments, also known as the mark-to-market value.