Friday, 24 October 2014
Last updated 3 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...