By Megan Davies
NEW YORK (Reuters) - KKR & Co LP
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KKR said it generated profits from taking a number of its portfolio companies public. During the quarter, KKR-backed Nielsen Holdings
Economic net income, a measure used by private equity firms to report earnings, was $742.5 million for the first quarter, compared with $674.8 million a year earlier.
ENI after tax per adjusted unit was 96 cents, KKR said, up from 93 cents in the same period a year ago.
KKR said assets under management totaled $61.0 billion, up from $54.7 billion a year earlier. It will pay a first-quarter distribution of 21 cents per unit.
KKR trades at a multiple of about 6.4 times its 2010 economic net income. That compares with rival Blackstone Group LP
(Reporting by Megan Davies, editing by Gerald E. McCormick, Dave Zimmerman)