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Money Management

Carlyle AUM up 3.3% for quarter, 24.5% for year

Carlyle Group reported $201.5 billion in assets under management as of March 31, a 3.3% increase from Dec. 31 and a 24.5% increase from March 31, 2017, according to the alternative investment firm's earnings report released Tuesday.

Carlyle attributed the increase in the first quarter to $63 billion in fundraising and fund appreciation along with $7 billion in foreign-exchange gains, partially offset by $30 billion in outflows and $1 billion in AUM depreciation, primarily expiring dry powder.

Carlyle's private equity AUM totaled $75 billion as of March 31, up 3.3% from Dec. 31 and up 29.3% from March 31, 2017. Carlyle's AUM for investment solutions — composed of customized portfolios and its co-investment/secondaries subsidiaries for private equity and real estate — was $48.7 billion as of March 31, up 5.2% from three months earlier and up 10.7% from a year earlier. Real assets AUM totaled $44 billion, a 2.6% increase from the end of the previous quarter and a 23.6% increase from the end of the year-earlier quarter. Global credit strategies had $33.8 billion in AUM, up 1.5% from Dec. 31 and up 15% from March 31, 2017.

Management fees were $264.5 million in the first quarter, down 5.3% from the prior quarter and up 7.4% from the year-earlier quarter.

GAAP net income was $39.7 million in the fourth quarter, down from $58.9 million in net income in the previous quarter and down from $83 million in the year-earlier quarter.