Carlyle First-Quarter Profit Falls 26% on Performance Fees

Carlyle Group LP, the private-equity firm that went public this month, said first-quarter profit fell 26 percent as performance fees declined from a year earlier.

Economic net income, a measure of profit excluding some costs, declined to $392 million from $533 million a year ago, Washington-based Carlyle said in a statement today. Performance fees fell 27 percent to $631.5 million from a year earlier, when Carlyle sold $1.8 billion of shares of China Pacific Insurance Group Co.