The US investment firm KKR's Henry Kravis took home US$169.7 million last year, while fellow co-founder George Roberts topped that with $173.1m.
Each of the two, who are cousins, earned a $300,000 salary and about $67.8m in carried interest, or his share of investment profits, according to New York-based KKR’s annual report filed Friday. Much of the windfall came in dividends, with each taking home more than $56m.
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In 2016, Kravis got $116m and Roberts received $119m.
The dividends came out of KKR’s distributable earnings, which rose to $1.56 billion last year from $1.53bn in 2016. Sales of shares in food-service distributor US Foods Holding corporation and industrial equipment maker Gardner Denver Holdings, as well as KKR’s disposal of drug-capsule maker Capsugel, helped fuel the profit measure.
KKR managed $168.5bn across private equity holdings, credit assets, real estate and hedge funds as of December 31. Kravis and Roberts, both 74, started the firm with Jerry Kohlberg in 1976. Kohlberg left in 1987 and died in 2015.