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

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR