Buyout firm Carlyle Group Inc reported on Thursday a smaller-than-expected 6per cent drop in third quarter distributable earnings as growth in its private equity and credit businesses partly offset a decline in asset sales from its real estate and energy divisions.
Carlyle said distributable earnings - the cash available for paying dividends - fell to US$151.8 million from US$160.7 million a year earlier. This translated to DE per share of 40 cents, which surpassed the Wall Street consensus average of 36 cents, according to data from Refinitiv.The Washington, D.C.-based firm said its overall fund portfolio rose by 5per cent during the quarter, driven by private equity funds, which climbed 5per cent, while credit funds appreciated by 4per cent.
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