
Thomson Reuters
Carlyle Group co-founder and CEO David Rubenstein.
Carlyle earned an economic net income (ENI) of $89 million before taxes, down 68 percent compared with a year earlier but still beating market expectations.
That translated into 18 cents of ENI per share after taxes, compared with analyst forecasts for 12 cents per share.
ENI is a crucial performance measure for U.S. private equity firms as it accounts for unrealized gains or losses in investments.
Carlyle's profit of $8.4 million was down 79% from $39.5 million in the year-ago quarter.
Known for multi-billion-dollar corporate takeovers that were all the rage before the 2008 global financial crisis, the U.S. private equity industry has had a slow start this year as investor aversion to risk reduced financing for buyouts.
(Reporting by Koh Gui Qing Editing by W Simon)