Carlyle earnings disappoint

Carlyle reported net economic income of $182.2m, as opposed to $254.2m in 2011. Distributable pre-tax earnings went down by 20% from last year, amounting to $688m.

The GP cited slower than expected appreciation of fund holdings as a reason for missing expectations.

In response, its NASDAQ-traded shares fell by 7.8%, closing on $33.80 – the largest value slump since the firm went public.

In 2012, Carlyle saw an overal $18.7m carry fund realisations, with $0.49 in distributable earnings per common unit in Q4.

Carlyle floated on NASDAQ in May 2012, raising $671m for the firm, short of the $762.5m target. In November, the firm closed its North America-focused buyout fund, Carlyle Equity Opportunity Fund, on $1.1bn.

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• Topics
• Performance
• GPs
• Carlyle Group
• NASDAQ
• United States