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Global alternative asset manager The Carlyle Group L.P. (NASDAQ:CG) today reported its results for the full year and fourth quarter ended December 31, 2013.
Carlyle Co-CEO David M. Rubenstein said, “Carlyle experienced a strong year in 2013 across virtually every metric. We benefited from an accelerating fundraising environment, we built out our Natural Resources platform and Solutions business, and we attracted industry leading management talent to the firm. Our fund and financial performance over the past year demonstrates the advantage of our long term focus, which benefits both our fund investors and unitholders.”
Carlyle Co-CEO William E. Conway, Jr. said, “Our fund investors profited from robust performance in our carry funds and strong risk adjusted returns in our hedge funds. We took advantage of a strong market backdrop to produce $17.4 billion in realized proceeds during 2013, and more than $60 billion over the past four years. Our unwavering focus on performance helped Carlyle produce $1.88 in distributions per unit for our common unitholders for 2013.”
U.S. GAAP results for Q4 2013 and 2013, respectively, included income before provision for income taxes of $714 million and $1.4 billion, and net income attributable to the common unitholders through The Carlyle Group L.P. of $71 million and $104 million, or net income per common unit of $1.17 and $2.05, on a diluted basis. Total balance sheet assets were $35.6 billion as of December 31, 2013.
Fourth Quarter Distribution
The Board of Directors has declared a quarterly distribution of $1.40 per common unit to holders of record at the close of business on March 3, 2014, payable on March 11, 2014.
Including the $1.40 per common unit distribution payable on March 11, 2014, the Board of Directors has declared $1.88 in aggregate distributions per common unit for the 2013 fiscal year, reflecting a 75% payout of $2.50 in full year after-tax Distributable Earnings per common unit.