Carlyle Profit Falls Sharply

Nov 6 2013 | 11:55am ET

The Carlyle Group's third-quarter profit dropped 21% on lower performance fees and fewer investment exits.

The Washington, D.C.-based private-equity giant said its economic net income fell to $160.2 million from $203.6 million last year. Under generally-accepted accounting principles, the decline was even steeper: 88%, to just $2.3 million. Distributable earnings fell by almost half to $105 million; Carlyle will pay a 16-cent dividend for the quarter.

Carlyle said its private-equity funds returned 5% in the third quarter. Overall, all of its performance-fee-earning assets rose 4% on the quarter and are up 13% on the year.

Assets under management at the firm inched up to $185 billion from $180.4 billion.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note