Carlyle Group Q2 Profit Rises

(RTTNews) - Global investment firm The Carlyle Group (CG) reported that its second-quarter net income attributable to common unitholders rose to $148.2 million or $1.23 per unit from $63.5 million, or $0.56 per unit last year.

Total revenues for the quarter grew to $1.06 billion from $893.6 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share and revenues of $495.82 million. Analysts' estimates typically exclude special items.

The Board of Directors has declared a quarterly distribution of $0.43 per common unit to holders of record at the close of business on August 12, 2019, payable on August 19, 2019.

The company said it plans to convert to a Full C-Corporation with an expected effective date of January. All of Carlyle's private holdings units and common units will be exchanged for one class of common shares, creating a simple, transparent corporate structure.