Carlyle Deal Sales Buoy Profits But Shrink Firm’s Assets
- Money manager’s fee-related earnings reach record $266 million
- A 2018 fund’s returns leave firm ineligible for carry, for now
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Carlyle Group’s private equity dealmakers stepped up the pace of exiting investments in the first quarter, driving profits higher but shrinking assets managed.
A spurt of sales sent distributable earnings — the profit available to shareholders — up 59% from a year earlier to $431 million, the firm reported Wednesday. That amounted to $1.01 a share, beating the 95-cent average estimate of analysts.