Saturday, 23 August 2014
Last updated 13 hours ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note