Carlyle Group's assets under management fell to $175.6 billion as of June 30, down 1.4% from three months earlier and down 8.9% year-over-year, said the alternative money manager's earnings report released Wednesday.
Caryle attributed the AUM drop in the second quarter to $6.2 billion in distributions, $1.2 billion in net redemptions and $1.1 billion in foreign-exchange losses. This was partially offset by $4 billion in market appreciation and $1.7 billion in commitments net of expired capital.
Carlyle's U.S. GAAP net income was $6.1 million in the second quarter, compared to $8.4 million in the first quarter and $30.6 million in the year-earlier quarter.
The firm experienced a net loss of $74 million in the 12 months ended June 30, compared to a net loss of $50 million for the year ended March 31.
Management fees were $272.5 million in the second quarter, down 5.9% from the previous quarter and down 3.5% year-over-year.
Performance fees totaled $210.9 million in the quarter, up 45.2% from the first quarter but down 28.5% from the second quarter of 2015.