KKR misses by $0.07, misses on revs; announces $500 mln buyback; sets quarterly distribution at $0.16/unit
* Reports Q3 (Sep) ENI of ($0.37) per share, $0.07 worse than the Capital IQ Consensus of ($0.30) -- note economic net income is based on quarterly marks are not the most important metric; revenues fell 45.3% year/year to $188.6 mln vs the $257.49 mln Capital IQ Consensus.
* Total distributable earnings was $349.1 million and $1,357.1 million for the quarter and nine months ended September 30, 2015, respectively, down from $504.8 million and $1,652.6 million in the comparable periods of 2014.
* Book value was $10.2 billion on a total reportable segment basis as of Sept 30, 2015 or $12.01 per adjusted unit.
* Assets under management ("AUM") and fee paying assets under management totaled $98.7 billion and $82.9 billion, respectively, as of September 30, 2015.
* Distribution $0.35.
* KKR adopts a $500 million unit repurchase program
* KKR to change distribution policy to fixed $0.16 per common unit per quarter beginning with the fourth quarter of 2015.