KKR  PE  Monitoring  and  Transaction  Fee  Income

2011 2012 2013 2014Monitoring  Fees 163,769 116,565 120,267 135,160Transaction  Fees 166,654 96,454 150,118 214,612Consulting  Fees 56,100 46,215 47,930 41,573Total  Fees 386,523 259,234 318,315 391,345

Fee  Credits -­‐144,928 -­‐97,362 -­‐136,662 -­‐198,680

Fee  Credits  as  Percent  of  Total  Fees 37.5% 37.6% 42.9% 50.8%

10-­‐K  note  for  all  years  shown  :Fee  Credits  exclude  fees  that  are  not  attributable  to  a  fund's  interest  in  a  portfoliocompany  and  generally  amount  to  80%  of  monitoring  and  transaction  fees  allocableto  the  fund  after  related  expenses  are  recovered.

source:  KKR  10-­‐K  filings