Thursday, 3 September 2015
Last updated 1 hour ago
Aug 7 2013 | 10:07am ET
The Carlyle Group is back in the black in the second quarter.
The private-equity giant said today that its economic net income was $156 million for the quarter, up from a $57.2 million loss in the year-earlier period. But the numbers missed analysts' estimates by a wide margin.
Under generally accepted accounting principles, Carlyle still suffered a loss, but a narrower one that in the second quarter of 2012, just $3.3 million, compared with $10.3 million. Pretax distributable earnings rose from $116 million to $163 million, as the firm exited some $4 billion in investments. The firm will pay a 16 cent dividend.
Performance fees rose to $259.1 million from a loss in last year's second quarter.
Carlyle said it raised some $6.9 billion in new capital during the quarter, as its assets under management rose to $180.4 billion from $176.3 billion at the end of the first quarter.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…