Carlyle Group LP reported a 15 percent drop in third-quarter pretax profit on Wednesday, as a halt to a stock market rally led to its private equity funds appreciating at a slower pace than a year ago.While proceeds from the sale of private equity assets more than doubled, the value of Carlyle's private equity funds rose by 3 percent in the quarter, less than the 5 percent appreciation a year ago. Its hedge funds and secondary funds businesses also showed weakness.Peer KKR & Co LP reported a 17 percent decline in third-quarter pretax profit earlier this month, while Blackstone Group LP reported an 18 percent rise.Washington, D.C.-based Carlyle said economic net income (ENI), a metric that factors in the mark-to-market value of its portfolio, was $166 million in the third quarter versus $195 million a year earlier.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.53% or $0.16/share to $30.55. In the past year, the shares have traded as low as $25.60 and as high as $36.08. On average, 4723040 shares of BX exchange hands on a given day and today's volume is recorded at 4055240.
Shares of CG traded higher by 0.07% or $0.02/share to $29.83. In the past year, the shares have traded as low as $26.34 and as high as $39.38. On average, 391355 shares of CG exchange hands on a given day and today's volume is recorded at 397697.
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