Carlyle Earnings Tumble 28% as Carried Interest Remains Elusive

Carlyle Group Inc.’s first-quarter earnings tumbled as robust asset sales from its most recent buyout funds have yet to generate carried interest.

Distributable earnings fell 28% from a year earlier to $327 million, or 89 cents a share on an after-tax basis, the Washington-based company said in a statement Thursday. That fell short of the 93-cent average estimate of analysts surveyed by Bloomberg.