Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG), today reported its unaudited results for the fourth quarter and the year ended December 31, 2012.
David M. Rubenstein, Co-Chief Executive Officer of Carlyle, said, “We had another excellent year. Our performance over the past two years was marked by steady, continuous progress across our business. Most notably, in 2012 we raised twice as much capital as we did in 2011, with over $14 billion of new capital commitments into our funds. As a strong reflection of our cash earnings, we are announcing an attractive fourth quarter distribution of $0.85 per unit to our common unitholders.”
William E. Conway, Jr., Co-Chief Executive Office of Carlyle, said, “I am optimistic about investment opportunities globally, in developed and emerging markets alike. We deployed and harvested capital at a solid pace in the fourth quarter, which is a reflection of the scope of the Carlyle global platform. In the fourth quarter alone, we invested $3.3 billion in equity in 96 investments in 19 countries across 24 carry funds. In the same period, we achieved $6.8 billion in realized proceeds from 155 investments across 39 carry funds. Our performance in 2012 has built a strong foundation for producing significant returns for our fund investors and Distributable Earnings for our common unitholders in 2013 and beyond.”
U.S. GAAP results for Q4 2012 included income before provision for income taxes of $146 million and net income attributable to the public unitholders through The Carlyle Group L.P. of $12 million, or net income per common unit of $0.25 on a fully diluted basis. For the year ended December 31, 2012, income before provision for income taxes was $2.4 billion, compared to $1.2 billion in 2011. Total balance sheet assets were $31.6 billion as of December 31, 2012 compared with $24.7 billion as of December 31, 2011.