The Carlyle Group - CG - Q1 2012 Earnings Results
5/15/2012 12:30:09 PM
Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG) reported its unaudited first quarter 2012 results.
Carlyle generated strong Distributable Earnings (DE) of $179 million in the first quarter of 2012, primarily driven by Net Realized Performance Fees of $143 million. On a pro forma basis, taking into consideration changes related to our Initial Public Offering, which priced on May 2, 2012, our first quarter pre-tax DE was $189 million and $0.57 per unit on a post-tax basis, with pro forma Net Realized Performance Fees of $149 million. On a Last Twelve Month (LTM) basis (Q2 2011 — Q1 2012), DE was $759 million, a 36% increase from the prior LTM result (Q2 2010 — Q1 2011) of $560 million.
David M. Rubenstein, Co-Chief Executive Officer of The Carlyle Group, said, "Our results for the quarter are consistent with our plans for the year and demonstrate the breadth, balance and depth of our firm. They also show our ability to attract capital commitments, pursue investments and realize distributions on a global basis. We are particularly pleased with the performance and growth of our Corporate Private Equity and Global Market Strategies businesses."
About The Carlyle Group - CG
The Carlyle Group (CG) is a global alternative asset manager with $159 billion of assets under management in 94 active funds and 63 fund of funds vehicles as of March 31, 2012. Carlyle invests across four segments — Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions — in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has developed expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation.