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Carlyle Group and Its Mixed 3Q17 Results

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Carlyle Group and Its Mixed 3Q17 Results PART 1 OF 9

Carlyle Group Beat 3Q17 Earnings Estimate, Missed on Revenue

3Q17 performance

The Carlyle Group (CG), an alternative asset manager, reported its 3Q17 earnings on October 31, 2017. Its EPS (earnings per share) was $0.56, which came on the back of a rise in the company’s carry fund portfolio. EPS was higher than the Wall Street estimate of $0.51.

Carlyle Group Beat 3Q17 Earnings Estimate, Missed on Revenue

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The Carlyle Group has a market capitalization of $7.3 billion. Let’s look at the market capitalizations of other alternative asset managers (XLF):

  • KKR & Co. (KKR): $16.2 billion
  • Blackstone Group (BX): $39.9 billion
  • Apollo Global Management (APO): $13.1 billion

Carlyle reported revenues of $639.9 million in 3Q17, which is lower than analysts’ estimate of $680.4 million. Its 3Q17 revenues represented a marginal rise from 3Q16.

In 3Q16, Carlyle reported revenues of $607.3 million. The YoY (year-over-year) rise in revenues was mainly due to a rise in the company’s performance fees. In 3Q17, its performance fees were $285.6 million compared to $214.7 million in 3Q16.

Fund management fees, investment income

The Carlyle Group has witnessed a marginal rise in its fund management fees, from $255.1 million in 3Q16 to $262.5 million in 3Q17.

The company also saw a substantial fall in its total investment income in 3Q17 compared to 3Q16. In 3Q17, its total investment income was $37.2 million compared to $70.5 million in 3Q16. The YoY decline was mainly due to a fall in realized investment income.

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