Carlyle Profit Up Almost 600%

Feb 19 2014 | 1:50pm ET

The Carlyle Group said today that its fourth-quarter profit soared, almost sixfold by one measure, on impressive returns.

The private-equity giant said its profit for the last three months of the year was $71 million, up from $12 million in the year-earlier period. Economic net income was also up sharply, to $576 million from $182 million, giving Carlyle full-year economic net income of $1.32 billion, a 79% increase from 2012.

Distributable earnings more than doubled, to $401 million, accounting for nearly half of Carlyle's full-year earnings of $840 million, also 22% higher than in the previous year.

Carlyle's funds generated returns of 6% on the quarter and 20% on the year, with its private-equity funds doing especially well: 9% in the fourth quarter and 30% in 2013. Assets under management rose 11% to $188.8 billion.

Carlyle earned $6.3 billion in deal proceeds in the fourth quarter, bringing its 2013 total to $17.4 billion, down slightly from $18.8 billion the prior year.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note