Carlyle Group Inc reported a smaller-than-expected 7per cent on-year drop in second-quarter distributable earnings on Thursday, as profits in its private equity and credit divisions partly offset declines in real estate and energy businesses.
Carlyle said distributable earnings - the cash available for paying dividends - fell to US$198.4 million from US$213.4 million a year earlier. This translated to DE per share of 53 cents, which significantly surpassed the Wall Street consensus average of 36 cents, according to data from Refinitiv.Like other private equity firms, Carlyle saw a rebound in the value of many of its funds, as U.S.
By comparison, Blackstone said its private equity portfolio grew 12.8per cent in the second quarter, with opportunistic and core real estate funds rising by 1.6per cent and 3per cent, respectively.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »