EPS in 1Q18
The Carlyle Group (CG) reported its earnings for 1Q18 this morning. The company announced earnings per share or EPS of $0.47, beating analysts’ expectations by $0.12. In comparison, its competitor (XLF) Blackstone Group (BX) reported EPS of $0.65 in 1Q18. KKR & Company (KKR) and Apollo Global Management (APO) are slated to announce their earnings on May 3.
Carlyle’s management believes its 1Q18 results were positively affected by fundraising activities. Moreover, the company’s funds witnessed favorable momentum in 1Q18, as its carry funds rose 3%. The company saw fundraising of $7.7 billion in 1Q18, which reflects an increase on a YoY basis.
Carlyle’s 1Q18 revenues
Carlyle garnered revenues of $702.80 million in 1Q18, which beat expectations by $23.99 million. The company’s fund management fees amounted to $264.5 million in 1Q18. Its total assets under management or AUM amounted to $201.5 billion in 1Q18, reflecting a rise of 24% on a YoY basis because of the equity markets as well as fundraising activities.
However, a YoY rise in the company’s AUM was partially offset by realizations witnessed in the last 12 months. Carlyle’s fee-generating assets under management amounted to $125.8 billion in 1Q18, representing a YoY rise of 9%.
In 1Q18, Carlyle reported deployments and realizations amounting to $4 billion and $5.6 billion, respectively. In the event of economic instability, asset managers generally witness a negative impact on their fundraising activities, as fewer investors are willing to part with their funds.