Carlyle Group LP said on Thursday fourth-quarter earnings fell 28 percent as the alternative asset manager failed to match the previous year's sales of assets and relied more on company dividends to return money to its fund investors.Carlyle's shares were down more than 7 percent on Thursday morning as investors voiced disappointment with what the firm likes to call "the Carlyle engine." The stock had been up 41 percent since the start of the year, compared with a 5 percent rise in the Nasdaq Composite Index.Carlyle's private equity arm, which accounted for about a third of its assets but about two-thirds of profit, was mostly responsible for the earnings drop, bucking a trend among peers Blackstone Group LP, KKR & Co LP and Apollo Global Management LLC.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 - a cut of the profit for Carlyle.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO fell by 0.18% or $-0.04/share to $22.24. In the past year, the shares have traded as low as $10.42 and as high as $23.95. On average, 489346 shares of APO exchange hands on a given day and today's volume is recorded at 587872.
The Blackstone Group L.P. (Blackstone) is a United States-based company that is a manager of private capital and provider of financial advisory services. Shares of BX fell by 1.87% or $-0.35/share to $18.38. In the past year, the shares have traded as low as $11.13 and as high as $19.69. On average, 4500560 shares of BX exchange hands on a given day and today's volume is recorded at 2713391.
Shares of CG fell by 7.34% or $-2.69/share to $33.98. In the past year, the shares have traded as low as $20.00 and as high as $37.89. On average, 105426 shares of CG exchange hands on a given day and today's volume is recorded at 380958.
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