Tuesday, 27 January 2015
Last updated 5 hours 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…