Sunday, 29 November 2015
Last updated 1 day ago
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.
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…