Carlyle Group reported $169.8 billion in assets under management as of June 30, up 4.8% from the end of the prior quarter but down 3.3% from a year earlier, according to the alternative investment firm's earnings report released Wednesday.
The company attributed the quarterly increase in AUM to $6.3 billion in commitments, net of expired capital, $4.4 billion in market appreciation and $2.9 billion in foreign-exchange impact. Those gains were partially offset by $5.9 billion in distributions and $88 million in capital called.
As of June 30, corporate private equity had $54.3 billion in AUM, up 2.4% from three months earlier and down 5.7% from June 30, 2016.
Investment solutions — which is what Carlyle Group calls its customized portfolios consisting of primary, secondary and co-investments, commingled funds and separately managed accounts — had $45.7 billion in AUM as of June 30, up 3.9% from the end of the first quarter and flat from a year earlier.
Real assets totaled $38.9 billion as of June 30, up 9.3% from three months earlier and up 3.7% from a year earlier. Global market strategies, which consist of structured credit, carry and financing funds, and hedge funds, had $30.9 billion as of June 30, up 5.1% from March 31 but down 11% from June 30, 2016.
Dry powder totaled $54.1 billion as of June 30, compared with $49.9 billion as of March 31 and $55.1 billion as of June 30, 2016.
Carlyle's U.S. GAAP net income for the first quarter was $58 million, compared to net income of $83 million in the first quarter and $6 million in the second quarter of 2016.
Management fees were $238.8 million in the second quarter, down 3% from the previous quarter and down 12.4% from the year-earlier quarter.
Performance fees totaled $543.6 million in the second quarter, a 20.2% drop from the prior quarter and a 158% increase from the year-earlier quarter.