Carlyle earnings drop

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Carlyle Group's stock had been on fire for most of the year--until it reported fourth quarter earnings. The stock tanked on the disappointing results, which reflected weaker-than-expected performance in the core private equity industry. "This is partly because Carlyle took advantage of stronger capital markets to carry out more refinancings of portfolio companies and pay dividends, which resulted in money returned to fund investors but did not generate so-called carried interest," according to Reuters. Article

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