Exhibit 99.1

KKR & Co. L.P. Announces Third Quarter 2013 Results

Strong Investment Performance Drives Meaningful Economic Net Income

GAAP net income (loss) attributable to KKR & Co. L.P. was $204.7 million for the quarter ended September 30, 2013, up from $127.4 million in the comparable period of 2012. GAAP net income (loss) attributable to KKR & Co. L.P. was $413.3 million for the nine months ended September 30, 2013, down from $464.1 million in the comparable period of 2012.

Assets under management (“AUM”) totaled $90.2 billion as of September 30, 2013, up from $83.5 billion as of June 30, 2013.

Fee related earnings (“FRE”) were $106.0 million and $292.2 million for the quarter and nine months ended September 30, 2013, respectively, up from $90.7 million and $233.8 million in the comparable periods of 2012.

Total distributable earnings were $251.1 million for the quarter ended September 30, 2013, down from $332.9 million for the quarter ended September 30, 2012. Total distributable earnings were $945.5 million for the nine months ended September 30, 2013, up from $903.1 million in the comparable period of 2012.

Economic net income (“ENI”) was $613.7 million for the quarter ended September 30, 2013, up from $509.9 million in the comparable period of 2012. ENI was $1.4 billion for the nine months ended September 30, 2013, down from $1.8 billion in the comparable period of 2012.

After-tax ENI was $0.84 per adjusted unit for the quarter ended September 30, 2013, up from $0.69 per adjusted unit in the comparable period of 2012. After-tax ENI was $1.90 per adjusted unit for the nine months ended September 30, 2013, down from $2.42 per adjusted unit in the comparable period of 2012.

Book value was $7.2 billion on a total reportable segment basis as of September 30, 2013 or $10.07 per adjusted unit.

KKR & Co. L.P. declares a third quarter distribution of $0.23 per common unit.

KKR & Co. L.P. announced a transaction to acquire Avoca Capital.

NEW YORK--(BUSINESS WIRE)--October 24, 2013-- KKR & Co. L.P. (NYSE: KKR) today reported its third quarter 2013 results.

For the quarter and nine months ended September 30, 2013, the carrying value of our private equity investment portfolio appreciated 5.9% and 12.5%, respectively.

ENI was $613.7 million for the quarter ended September 30, 2013, up from $509.9 million for the quarter ended September 30, 2012. The increase was principally attributable to higher investment income earned from our principal investments and to a lesser extent a higher level of net carried interest earned from our private equity funds.

ENI was $1.4 billion for the nine months ended September 30, 2013, down from $1.8 billion for the nine months ended September 30, 2012. The decrease was primarily due to lower investment income earned from our principal investments as well as a lower level of net carried interest earned from our private equity funds. While the fair value of our principal investments and private equity portfolio increased during the nine months ended September 30, 2013, the level of appreciation was lower than in the comparable period of 2012.

AUM and fee paying assets under management (“FPAUM”) were $90.2 billion and $73.6 billion, respectively, as of September 30, 2013, both up from June 30, 2013. The increases in both AUM and FPAUM were primarily attributable to new capital raised across our various investment platforms, partially offset by distributions to fund limited partners. In September 2013, our Energy Income and Growth Fund had its first close with commitments totaling $1.4 billion (includes general partner commitment).

For the quarter and nine months ended September 30, 2013, FRE was $106.0 million and $292.2 million, respectively, up from $90.7 million and $233.8 million in the comparable periods of 2012. The increases in both comparable periods were primarily driven by (i) management fees attributable to new capital raised; (ii) higher transaction fees; and (iii) the acquisition of Prisma.

On October 18, 2013, KKR announced a transaction to acquire Avoca Capital (Unlimited) and its affiliates (“Avoca”), a European credit investment manager with approximately $8 billion in assets under management as of September 30, 2013. The transaction, which is subject to customary regulatory approvals, is expected to close in the first quarter of 2014.

“Our investment portfolio and balance sheet continue to perform, resulting in an unannualized 20% return on equity in the first nine months of this year,” said Henry R. Kravis and George R. Roberts, Co-Chairmen and Co-Chief Executive Officers of KKR.

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Note: Certain financial measures, including FRE, ENI, after-tax ENI, ENI after taxes and equity-based charges, fee related EBITDA, book value, cash and short-term investments and adjusted units, are not presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). See Exhibits A and B for a reconciliation of such measures to financial results prepared in accordance with GAAP.

GAAP RESULTS

GAAP results for the quarter and nine months ended September 30, 2013 included net income attributable to KKR & Co. L.P. of $204.7 million and $413.3 million, respectively, and net income attributable to KKR & Co. L.P. per common unit of $0.66 and $1.40, respectively, on a diluted basis. For the quarter and nine months ended September 30, 2012, net income attributable to KKR & Co. L.P. was $127.4 million and $464.1 million, respectively, and net income attributable to KKR & Co. L.P. per common unit were $0.49 and $1.86, respectively, on a diluted basis. The increase quarter over quarter was primarily due to (i) an increase in management fees attributable to new capital raised and the acquisition of Prisma; (ii) higher transaction fees; and (iii) a higher level of total investment income. The year over year decrease was primarily due to a lower level of total investment income. The decrease in total investment income was partially offset by increases in fees primarily attributable to the acquisition of Prisma and higher transaction fees. The decrease in compensation and benefits expense was primarily attributable to lower carry pool allocations as a result of the recognition of lower carried interest during the nine months ended September 30, 2013 compared to the comparable period in 2012.

SEGMENT RESULTS

Private Markets

AUM was $59.7 billion as of September 30, 2013, an increase of $5.2 billion, or 9.5%, compared to AUM of $54.5 billion as of June 30, 2013. The increase was primarily attributable to new capital raised from fund investors and to a lesser extent appreciation in the fair value of our private equity portfolio. The increase was partially offset by distributions to the limited partners of our private equity funds arising from realizations.

FPAUM was $49.9 billion as of September 30, 2013, an increase of $4.0 billion, or 8.7%, compared to FPAUM of $45.9 billion as of June 30, 2013. The increase was primarily attributable to new capital raised from fund investors partially offset by distributions to the limited partners of our private equity funds arising from realizations.

FRE was $44.4 million for the quarter ended September 30, 2013, a decrease of $0.3 million compared to FRE of $44.7 million for the quarter ended September 30, 2012. The decrease was primarily driven by higher compensation expense due to additional headcount, partially offset by higher management fees resulting from new capital raised and higher transaction fees.

FRE was $127.8 million for the nine months ended September 30, 2013, an increase of $9.2 million, or 7.8%, compared to FRE of $118.6 million for the nine months ended September 30, 2012. The increase was primarily driven by higher management fees resulting from new capital raised and higher transaction fees. The increase was partially offset by higher compensation expense due to additional headcount.

ENI was $245.2 million for the quarter ended September 30, 2013, an increase of $31.3 million, or 14.6%, compared to ENI of $213.9 million for the quarter ended September 30, 2012. The increase was primarily attributable to higher net carried interest resulting from a higher level of appreciation in our private equity portfolio.

ENI was $583.9 million for the nine months ended September 30, 2013, a decrease of $70.0 million, or 10.7%, compared to ENI of $653.9 million for the nine months ended September 30, 2012. The decrease was primarily attributable to lower net carried interest resulting from a lower level of appreciation in our private equity portfolio, partially offset by the increase in FRE discussed above.

Public Markets

AUM was $30.5 billion as of September 30, 2013, an increase of $1.5 billion, or 5.2%, compared to AUM of $29.0 billion as of June 30, 2013. FPAUM was $23.7 billion as of September 30, 2013, an increase of $1.7 billion, or 7.7%, compared to FPAUM of $22.0 billion as of June 30, 2013. For both AUM and FPAUM, the increases were primarily attributable to net new capital raised from fund investors.

FRE was $20.2 million for the quarter ended September 30, 2013, a decrease of $3.1 million, or 13.3%, compared to FRE of $23.3 million for the quarter ended September 30, 2012. The decrease was principally attributable to lower incentive fees earned and higher expenses related to one-time expenses in connection with the launch of a closed-end fund in the quarter ended September 30, 2013. The decrease was partially offset by higher management fees related to new capital raised from fund investors and the acquisition of Prisma.

FRE was $91.8 million for the nine months ended September 30, 2013, an increase of $40.7 million, or 79.6%, compared to FRE of $51.1 million for the nine months ended September 30, 2012. The increase was primarily attributable to higher management fees related to new capital raised from fund investors and the acquisition of Prisma.

ENI was $28.4 million for the quarter ended September 30, 2013, a decrease of $6.5 million, or 18.6%, compared to ENI of $34.9 million for the quarter ended September 30, 2012. The decrease was primarily driven by the decrease in FRE discussed above and lower net carried interest resulting from a lower level of appreciation of certain carry-earning credit investment vehicles.

ENI was $118.0 million for the nine months ended September 30, 2013, an increase of $52.4 million, or 79.9%, compared to ENI of $65.6 million for the nine months ended September 30, 2012. The increase was primarily driven by the increase in FRE discussed above and to a lesser extent higher net carried interest due to certain credit investment vehicles beginning to earn carry in 2013.

Capital Markets and Principal Activities

FRE was $41.4 million for the quarter ended September 30, 2013, an increase of $18.7 million, or 82.4%, compared to FRE of $22.7 million for the quarter ended September 30, 2012. FRE was $72.7 million for the nine months ended September 30, 2013, an increase of $8.5 million, or 13.2%, compared to FRE of $64.2 million for the nine months ended September 30, 2012. The increases in both comparable periods were primarily driven by a higher level of overall capital markets transaction activity.

ENI was $340.1 million for the quarter ended September 30, 2013, an increase of $79.0 million, or 30.3%, compared to ENI of $261.1 million for the quarter ended September 30, 2012. The increase was primarily attributable to a higher level of investment income from our principal investments and to a lesser extent the increase in FRE discussed above.

ENI was $704.0 million for the nine months ended September 30, 2013, a decrease of $359.7 million, or 33.8%, compared to ENI of $1,063.7 million for the nine months ended September 30, 2012. The decrease was primarily due to a lower level of investment income from our principal investments. While the fair value of our principal investments increased during the nine months ended September 30, 2013, the level of appreciation was lower than in the comparable period of 2012.

CAPITAL AND LIQUIDITY

As of September 30, 2013, KKR had $1.9 billion of cash and short-term investments on a total reportable segment basis and $1.0 billion of outstanding debt obligations. KKR’s availability for borrowings was $750.0 million (which is reduced by an outstanding letter of credit), which does not include a $500.0 million revolving credit facility for use in its capital markets business that was undrawn as of September 30, 2013.

As of September 30, 2013, KKR’s portion of total uncalled commitments to its investment funds was $1,164.5 million, consisting of the following (amounts in thousands):

DISTRIBUTION

A distribution of $0.23 per common unit has been declared, comprised of (i) $0.10 per common unit from after-tax FRE, (ii) $0.07 per common unit from realized cash carry, and (iii) $0.06 per common unit from net realized principal investment income. The distribution will be paid on November 19, 2013 to unitholders of record as of the close of business on November 4, 2013. Please refer to the distribution policy presented later in this release.

CONFERENCE CALL

A conference call to discuss KKR’s financial results will be held on Thursday, October 24, 2013 at 11:00 a.m. EDT. The conference call may be accessed by dialing (877) 303-2917 (U.S. callers) or +1 (253) 237-1135 (non-U.S. callers); a pass code is not required. Additionally, the conference call will be broadcast live over the Internet and may be accessed through the Public Investors section of KKR’s website at http://ir.kkr.com/kkr_ir/kkr_events.cfm . A replay of the live broadcast will be available on KKR’s website or by dialing (855) 859-2056 (U.S. callers) or +1 (404) 537-3406 (non-U.S. callers), pass code 76308413 beginning approximately two hours after the broadcast.

From time to time, KKR may use its website as a channel of distribution of material company information. Financial and other important information regarding KKR is routinely posted and accessible on the Investor Center for KKR & Co. L.P. at http://ir.kkr.com/kkr_ir/kkr_events.cfm. In addition, you may automatically receive email alerts and other information about KKR by enrolling your email address at the “Email Alerts” area of the Investor Center on the website.

ABOUT KKR

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $90.2 billion in assets under management as of September 30, 2013. With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with fund investors through its client relationships and capital markets platform. KKR & Co. L.P. is publicly traded on the New York Stock Exchange (NYSE: KKR) and “KKR”, as used in this release, includes its subsidiaries, their managed investment funds and accounts, and/or their affiliated investment vehicles, as appropriate. For additional information, please visit KKR’s website at www.kkr.com .

FORWARD-LOOKING STATEMENTS

This release contains certain forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to AUM, FPAUM, FRE, total distributable earnings, ENI, after-tax ENI, ENI after taxes and equity-based charges, fee related EBITDA, committed dollars invested and syndicated capital, uncalled commitments, core interest expense, cash and short-term investments, net realized principal investment income and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships such as Prisma, Nephila or Avoca; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long term and financial results are subject to significant volatility. Additional information about factors affecting KKR is available in KKR & Co. L.P.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012, filed with the SEC on February 22, 2013, and other filings with the SEC, which are available at www.sec.gov .