Carlyle Group's assets under management totaled $187.7 billion as of Sept. 30, a 2.6% drop from three months earlier, its earning report Wednesday showed.
Total assets under managements fell 7.3% in the year ended Sept. 30.
During the third quarter, commitments — net of expired capital — increased AUM by $3.9 billion, but that was offset by net distributions totaling $6.4 billion, market depreciation of $1.8 billion, net redemptions of $600 million and foreign-exchange impact of $100 million.
The company reported fee-earning assets under management of $128.1 billion as of Sept. 30, down 1.5% from June 30 and down 8.6% from Sept. 30, 2014.
The net loss under U.S. generally accepted accounting principles was $525 million for the third quarter. During the second quarter, U.S. GAAP net income was $31 million and $181.3 million during the third quarter of 2014.
The GAAP financial results also included a “non-cash impairment charge related to the intangible assets associated with the credit hedge funds managed by Claren Road Asset Management,” the company said in a news release.
Carlyle's net accrued performance fees totaled $1.3 billion for the third quarter, $1.1 billion of which came from corporate private equity, while real assets accounted for $93 million, as well as $44 million in global market strategies carry funds and $42 million in non-carry fund/other, which consists of business development companies, hedge funds and funds of funds, mutual funds and structured credit/other structured product funds.
Within real assets, real estate accounted for $162 million and natural resources, $9 million. Those were offset by a loss of $77 million in legacy energy funds.