KKR & Co., the private equity firm planning to take public Nashville's HCA in coming months, reported a profit of nearly $675 million in the first quarter, up from just $2.5 million in Q1 2009. From Bloomberg: KKR, founded in 1976 by Kravis and Roberts, is resuming deal-making after an almost three-year drought triggered by the global credit crisis following a record LBO boom. In addition to new investments, the firm is seeking to reap profits from holdings through public share sales for companies including hospital chain HCA Inc.

"We're not in the environment we were in a few years ago, but we've certainly turned the corner for performance and demand for private equity," Michael Kim, an analyst with Sandler O'Neill & Partners LP in New York, said in a telephone interview.