The Carlyle Group Announces First Quarter 2019 Financial Results

WASHINGTON, May 01, 2019 (GLOBE NEWSWIRE) -- Global investment firm The Carlyle Group L.P. CG today reported its unaudited results for the first quarter ended March 31, 2019.

U.S. GAAP results for Q1 2019 included income before provision for income taxes of $470 million, an increase of 275% from Q1 2018, and net income attributable to The Carlyle Group L.P. common unitholders of $137 million, or net income per common unit of $1.18, on a diluted basis.  U.S. GAAP results for the twelve months ended March 31, 2019 included income before provision for income taxes of $705 million and net income attributable to The Carlyle Group L.P. common unitholders of $196 million.  Total balance sheet assets were $12 billion as of March 31, 2019.

Carlyle Co-CEOs Kewsong Lee and Glenn Youngkin said, "Carlyle's strong momentum continues with first quarter Fee Related Earnings up more than 250% from a year ago and solid investment performance driving Net Accrued Performance Revenues above $1.8 billion. In addition, we are pleased with the progress of our growth initiatives as Fee-earning AUM increased by 27% to a record $160 billion over the last twelve months."

In addition to this release, Carlyle issued a full detailed presentation of its first quarter 2019 results, which can be viewed on the investor relations section of our website at ir.carlyle.com.

Distributions

The Board of Directors has declared a quarterly distribution of $0.19 per common unit to holders of record at the close of business on May 13, 2019, payable on May 21, 2019.

The Board of Directors has declared a quarterly distribution of $0.367188 per preferred unit to preferred unitholders of record at the close of business on June 1, 2019, payable on June 17, 2019.

Conference Call

Carlyle will host a conference call at 8:30 a.m. EDT on Wednesday, May 1, 2019, to announce its first quarter 2019 financial results. The call may be accessed by dialing +1 (800) 850-2903 (U.S.) or +1 (253) 237-1169 (international) and referencing "The Carlyle Group Financial Results Call." The conference call will be webcast simultaneously via a link on Carlyle's investor relations website at ir.carlyle.com and an archived replay of the webcast also will be available on the website soon after the live call.

About The Carlyle Group

The Carlyle Group CG is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of March 31, 2019, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,725 people in 33 offices across six continents.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, contingencies, our distribution policy, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks, uncertainties and assumptions.  Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements including, but not limited to, those described under the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on February 13, 2019, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

This release does not constitute an offer for any Carlyle fund.

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