Carlyle's Q3 profit falls 11 pct on fewer asset sales
Nov 6 (Reuters) - Carlyle Group LP on Wednesday posted an 11 percent drop in third-quarter profit, as it generated less cash from asset sales than it has done at any other quarter as a publicly listed alternative asset manager.
Economic net income (ENI), an earnings measure comprising cash and paper profits or losses based on how funds have been marked to market, declined to $195 million in the third quarter from $219 million a year before.
Carlyle's pretax distributable earnings, which show how much cash is available to pay dividends, were $105 million, its lowest ever on a quarterly basis since it went public in May 2012, versus $207 million a year earlier, as Carlyle monetized less of its assets.
Total assets under management were $185.0 billion at the end of September, up from $180.4 billion at the end of June. Carlyle said it raised $6.5 billion in new capital from investors during the quarter.
Carlyle declared a third-quarter dividend of 16 cents per share.