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Carlyle reports 2.7% AUM gain in quarter

Carlyle Group's had $174.4 billion in assets under management as of Sept. 30, up 2.7% from June 30 and up 3.1% from a year earlier, according to the alternative investment firm's earnings report released Tuesday.

Carlyle attributed the increase to new capital raised across business segments, including its real assets, global market strategies and investment solutions businesses. Carlyle raised $7.1 billion in gross capital in the third quarter and $22.1 billion in the 12 months ended Sept. 30.

Carlyle's private equity AUM totaled $55.7 billion as of Sept. 30, up 2.6% from the end of the prior quarter and up 2% from a year earlier. Carlyle's investment solutions — composed of customized portfolios and its private equity and real estate co-investment/secondaries subsidiaries — AUM was $47 billion as of Sept. 30, up 2.8% from June 30 and up 5.1% from Sept. 30, 2016. Real assets AUM totaled $39.8 billion, a 2.3% increase from three months earlier and an 11.5% increase from a year earlier. Global market strategies AUM was $31.9 billion, up 3% from June 30 but down 6% from Sept. 30, 2016.

Management fees were $262.5 million in the quarter, up 10% from the prior quarter and up 2.9% from the quarter ended Sept. 30, 2016. Performance fees totaled $285.6 million, down 47.5% from $543.6 million in the second quarter but up 33% from $214.7 million in the year-over-year quarter.

GAAP net income was $44.6 million in the third quarter, down from $57.6 million in the prior quarter but up from $800,000 in the year-over-year quarter.