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Alternatives

Carlyle Group’s AUM up 1% for quarter, up 22% for year

Carlyle Group's assets under management totaled $212.3 billion as of Sept. 30, up 1% from June 30 and up 22% from 12 months earlier, the alternatives investment firm said Wednesday.

Carlyle attributed the increase in the year to a combination of $50.7 billion in fundraising and $17.7 billion in market appreciation, partially offset by $27.1 billion in realized proceeds to fund investors.

Carlyle's private equity AUM was $81.6 billion as of Sept. 30, flat from June 30 but up 46% from Sept. 30, 2017. Carlyle's AUM for investment solutions — composed of customized portfolios and its co-investment/secondaries subsidiaries for private equity and real estate — was $47.3 billion, a 1% decline from three months earlier but a 1% increase from the end of the year-earlier quarter. Real assets AUM totaled $46 billion, up 1% from the end of the previous quarter and up 16% year over year. Global credit strategies had $37.4 billion in AUM, increasing 5% from June 30 and 17% from a year earlier.

GAAP net income was $11.6 million in the third quarter, down from $63.5 million in the second quarter and down from $44.6 million in the year-earlier quarter.

Carlyle earned fund management fees of $328.8 million, up 9% from the second quarter and up 25% from the third quarter of 2017. Incentive fees were $6.8 million, down 8.1% from the prior quarter and down 34.6% from the year-earlier quarter. Investment income was $258.6 million in the quarter, down 48.6% from the second quarter and down 17.2% from $312.4 million in the third quarter of 2017.