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Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG), today reported its unaudited third quarter 2012 results.
David M. Rubenstein, Co-Chief Executive Officer of Carlyle, said, “Every component of the Carlyle engine is running strong. Third quarter fundraising was solid, our investment pace was active, portfolio valuations were up and we generated substantial cash returns for our fund investors. These returns drove robust distributable earnings for the third quarter. Additionally, this quarter we raised $3.4 billion in fresh capital, reflective of strong investor confidence in our global model and investment performance.”
William E. Conway, Jr., Co-Chief Executive Officer of Carlyle, said, “Our purpose is to invest wisely and create value for our fund investors, which in turn benefits our public investors, and we worked hard at each this quarter. Our active third quarter is a culmination of several factors, including the scope of our global operation, various tactical advantages we had, strong capital markets and many months and years of work. We believe that the United States, Europe and emerging markets – from Brazil to Turkey to China – are great places to invest right now.”
U.S. GAAP results for Q3 2012 included income before provision for income taxes of $603 million and net income attributable to the public unitholders through The Carlyle Group L.P. of $19 million, or net income per common unit of $0.40 on a fully diluted basis. For Q3 2011, Carlyle was still a private partnership, and the net loss before provision for income taxes was $(619) million. For Q3 2012, total revenue was $859 million, compared with revenue of $(60) million in Q3 2011. Total balance sheet assets were $30.0 billion as of September 30, 2012 compared with $24.7 billion as of December 31, 2011.
Third Quarter Distribution
The Board of Directors has declared a quarterly distribution of $0.16 per common unit to holders of record at the close of business on November 19, 2012, payable on November 30, 2012. Since the pricing of its IPO on May 2, 2012, Carlyle has announced $0.27 per common unit in distributions to public unitholders.