Carlyle Profit Up 0.5%

May 9 2013 | 11:31am ET

The Carlyle Group's first-quarter profit rose slightly on stronger returns, higher fee income and increased asset sales, the private equity giant said.

Washington, D.C.-based Carlyle's economic net income rose 0.5% to $393.9 million, besting analysts' estimates. Carlyle credit increased fee income, itself due to rising stock markets and higher valuations. The firm also said it took advantage of the former to sell some shares and exit at least one investment.

Under generally-accepted accounting principles, Carlyle's profit was $33.8 million. Distributable earnings actually dropped from $178.8 million to $168.4 million; Carlyle will pay a 16-cent divided to investors.

Carlyle's buyout funds increased by 9% in the first quarter. All told, its funds, including real-estate and some Global Market Strategies vehicles, rose 7% on the quarter. Assets under management rose 3.5% in the quarter to $176.3 billion.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…