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

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...