Carlyle Profit Doubles

Jul 31 2014 | 12:33pm ET

The Carlyle Group said its second-quarter earnings doubled as it partook in the private-equity industry’s selling spree.

The Washington, D.C.-based firm said its distributable earnings for the quarter were $324 million, up from $163 million in the year-earlier period, buoyed by investment exits. The firm said that its European fund began contributing to its fee income for the first time during the quarter.

All told, Carlyle’s p.e. funds gained 5% on the quarter.

Carlyle co-CEO William Conway said the firm expected its European investments to continue to pay off. “Europe and Japan are both priced at about 20% lower than the United States. That is too big a discount.”

Carlyle’s assets under management rose to $202.7 billion from $198.9 billion at the end of the first quarter.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...