Reuters – Carlyle Returns to Q3 Profit as Assets Recover

Carlyle Group LP reported on Thursday a third-quarter profit, as the value of its assets increased and it cashed out on some of its private equity investments, returning money to its investors. Carlyle reported third-quarter economic net income, a measure of its profitability, of $219 million, compared with a loss of $191 million a year before. Assets under management were $157.4 billion at the end of September, up 0.8 percent from the end of June, while fee-earning assets under management were $115.1 billion.

(Reuters) – Carlyle Group LP reported on Thursday a third-quarter profit, as the value of its assets increased and it cashed out on some of its private equity investments, returning money to its investors.

Carlyle reported third-quarter economic net income, a measure of its profitability, of $219 million, compared with a loss of $191 million a year before.

Assets under management were $157.4 billion at the end of September, up 0.8 percent from the end of June, while fee-earning assets under management were $115.1 billion.

Distributable earnings after taxes, which included realized investment gains and accounted for cash available to pay dividends, came in at $206 million compared with $244 million in the third quarter of 20111.

The private equity firm declared a third-quarter distribution of 16 cents per common unit.

Carlyle shares are up 16 percent since the firm completed an initial public offering in May, compared with a 7 percent rise for peer KKR & Co LP, a 14 percent gain for Apollo Global Management LLC and a 12 percent rise for Blackstone Group LP.

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