The private equity firm and its peers are benefiting from strong markets, which have buoyed their portfolios

KKR’s second quarter profit surged as its portfolio appreciated and transaction fees increased.

For the period ended June 30, the New York private equity firm’s earnings rose to $405.6m, or 81 cents a share, from $93.9m, or 19 cents a share, the same period a year earlier.

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KKR’s earnings soar as fees increase

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