The Carlyle Group Announces Third Quarter 2016 Financial Results

WASHINGTON, Oct. 26, 2016 -- Global alternative asset manager The Carlyle Group L.P. (NASDAQ:CG) today reported its unaudited results for the third quarter ended September 30, 2016.

Carlyle Co-CEO David M. Rubenstein said, “Carlyle again delivered a strong distribution for our unitholders of $0.50 per common unit for the third quarter. We continue to generate substantial realized proceeds, with $6.6 billion in the third quarter and more than $19 billion over the last twelve months. We are also at the beginning of what should be a significant, multi-year fundraising cycle for the firm due to continued capital deployment and the strong performance of our largest fund families.”

Carlyle Co-CEO William E. Conway, Jr. said, “Many of our most significant funds around the world are performing well. Several of our latest vintage carry funds moved into an accrued carry position during the quarter, and overall Carlyle generated 3% portfolio appreciation across our carry fund platform. We are also very focused on improving the profitability and scalability of our Global Market Strategies segment with the goal of deepening and diversifying our credit platform.”

U.S. GAAP results for Q3 2016 included loss before provision for income taxes of $(50) million, and net income attributable to the common unitholders through The Carlyle Group L.P. of $1 million, or net income (loss) per common unit of $(0.02), on a diluted basis.  U.S. GAAP results for the twelve months ended September 30, 2016 included loss before provision for income taxes of $(125) million and net income attributable to The Carlyle Group L.P. of $11 million.  Total balance sheet assets were $10 billion as of September 30, 2016.

In addition to this release, Carlyle issued a full detailed presentation of its third quarter 2016 results, which can be viewed on the investor relations section of our website at ir.carlyle.com.

Distribution

The Board of Directors has declared a quarterly distribution of $0.50 per common unit to holders of record at the close of business on November 8, 2016, payable on November 16, 2016.

Conference Call

Carlyle will host a conference call at 8:30 a.m. EDT on Wednesday, October 26, 2016, to announce its third quarter 2016 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 (NASDAQ:CG) is a global alternative asset manager with $169 billion of assets under management across 125 funds and 177 fund of funds vehicles as of September 30, 2016. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 35 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 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. These statements are subject to risks, uncertainties and assumptions, including those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on February 24, 2016, 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.

Contacts:

Public Market Investor Relations
Daniel Harris
Phone: +1 (212) 813-4527
[email protected]

Media
Elizabeth Gill
Phone: +1 (202) 729-5385
[email protected]

Web: www.carlyle.com
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