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Buyout Firm Carlyle Counters Pain of Market Rout With New Fee Streams

  • Credit business, fees drive 34% gain in distributable earnings
  • CEO Lee is pushing to insulate the firm from market gyrations
Kewsong Lee
Kewsong LeePhotographer: Christopher Goodney/Bloomberg
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Carlyle Group Inc. grew its credit business and boosted fee streams in the second quarter, softening some of the blow from the market tumult as Chief Executive Officer Kewsong Lee pushed to diversify revenue.

Distributable earnings rose 34% to $528.8 million, or $1.17 a share, from a year earlier, the company said Thursday in a statement. That exceeded the $1.06 average estimate of analysts surveyed by Bloomberg.