Key facts
- Carlyle's second-quarter profit increased due to higher fee-related earnings and deal proceeds.
- Distributable earnings per share grew 18% year-over-year to $1.07.
- Transaction and portfolio advisory fees more than doubled to $110.5 million.
- Total assets under management stood at $485 billion, a 4% increase from the prior year.
Global investment firm Carlyle reported a significant increase in second-quarter profit, driven by a rise in fee-related earnings and proceeds from asset sales. Distributable earnings, the cash available for dividends, rose 18% year-over-year to $1.07 per share. Transaction and portfolio advisory fees, earned from arranging capital market deals, more than doubled to $110.5 million. The firm recognized gains from the sale of Bermuda-based specialty insurer Vantage Group and Japanese lighting products supplier Iwasaki Electric. Realized net performance revenue also rebounded after a weaker previous quarter. Total inflows reached $16.8 billion, boosted by a $5 billion commitment to its next U.S. buyout fund. Credit strategies attracted $5.8 billion and the AlpInvest secondaries business $4.5 billion. Total assets under management grew 4% to $485 billion, with AlpInvest showing 16% growth while private equity assets slightly decreased due to sales. Carlyle's stock has declined over 14% year-to-date, mirroring trends among other alternative asset managers.