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Global alternative asset manager The Carlyle Group L.P. (NASDAQ:CG) today reported its unaudited results for the third quarter of 2013, which ended on September 30, 2013.
Carlyle Co-CEO David M. Rubenstein said, “We continue to see strong interest from fund investors for Carlyle products, and our overall pace of fundraising is the highest since 2007. Carlyle has produced $1.33 per common unit in Distributable Earnings year to date and announced distributions to unitholders of $0.48, positioning unitholders for a solid year end distribution. We continue to innovate and add high quality strategic assets to Carlyle, and we look forward to taking a deep dive into all of Carlyle’s businesses at our first Investor Day on November 11th.”
Carlyle Co-CEO William E. Conway, Jr. said, “Our carry funds performed well in the quarter, posting 4% appreciation across the entire platform, with specific strength in Corporate Private Equity which is now up 25% over the past year. We have generated realized proceeds of nearly $18 billion for our fund investors over the past twelve months, and we currently have additional portfolio companies in the pipeline which we expect to go public over the next two quarters. Our investing acumen and fund performance has driven Carlyle’s net accrued carry balance up 34% year to date to $1.6 billion.”
U.S. GAAP results for Q3 2013 included loss before provision for income taxes of ($8.6) million and net income attributable to the common unitholders through The Carlyle Group L.P. of $2.3 million, or net income per common unit of $0.04 on a diluted basis. Total balance sheet assets were $33.9 billion as of September 30, 2013.
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 18, 2013, payable on November 27, 2013.