Carlyle Group Q1 Profit Climbs

(RTTNews) - Global investment firm the Carlyle Group L.P. (CG) reported that its net income attributable to common unitholders for the first quarter ended March 31, 2019 climbed to $137 million, or $1.18 per unit from $34 million, or $0.30 per unit last year.

Income before provision for income taxes rose to $470 million, compared to $126 million last year, primarily due to $261 million increase in investment income. The increase was partially offset by a $23 million increase in cash-based compensation and benefits and an $18 million increase in general, administrative and other expenses.

Total revenues for the quarter grew to $1.09 billion from $702.8 million last year.

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.