Carlyle Group saw its shares sink on Thursday after the company revealed its Q1 distributable earnings earnings were below most analyst estimates due to a steep fall in income from sales of assets in its private equity portfolio, according to a report by Reuters.
Carlyle Group saw its shares sink on Thursday after the company revealed its Q1 distributable earnings earnings were below most analyst estimates due to a steep fall in income from sales of assets in its private equity portfolio, according to a report by Reuters.
Carlyle’s revenue from asset divestments fell 30% to $165.1 million during the quarter and in anticipation that the current economic environment will continue to limit income from asset sales, the company has lowered its outlook on fee-related earnings.
The company’s shares were down 14% in afternoon trading, a sharper fall than seen in the broader market which was also trading lower.
