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World’s Top Private Equity KKR Changes from Partnership Structure to Corporation

World’s Top Private Equity KKR Changes from Partnership Structure to Corporation

The world’s top private equity firm, KKR has announced changes from a partnership structure to corporation, with effect from 1st July 2018.  The change will attract more index, ETF and mutual funds investors into KKR, and potentially be included in indexes and widening its investor base.

“World’s Top Private Equity KKR Changes from Partnership Structure to Corporation”

In the existing partnership structure, KKR pays corporate taxes only on revenue of management fees charged to investors, and not including performance fees.  In the new corporate structure, the firm will pay taxes on all revenue (Corporate tax in United States was lowered from 35% to 21%).

Earlier in 2018, Ares Management, one of the world’s largest alternative asset manager with $112 billion AUM, have moved from a partnership structure to a corporate structure.  In the latest Q1 2018 financial report, KKR manages $176 billion AUM.

Source: KKR, Bloomberg, Reuters

 

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