OREANDA-NEWS. Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG) today reported its unaudited results for the first quarter ended March 31, 2016.

Carlyle Co-CEO David M. Rubenstein said, “Despite the challenging market backdrop in the first quarter, we deployed a significant amount of capital, produced a reasonable amount of Distributable Earnings and positioned ourselves for strong performance in the coming quarters. We continue to manage our business with a long term perspective, however, the second quarter is already off to a good start.”

Carlyle Co-CEO William E. Conway, Jr. said, “We have invested almost $8 billion in capital from our carry funds over the past two quarters across various geographies and asset classes, and we still have $43 billion in carry fund dry powder to deploy. We are well positioned to take advantage of opportunities and deliver good results for our fund investors and unitholders.”

U.S. GAAP results for Q1 2016 included income before provision for income taxes of $15 million, and net income attributable to the common unitholders through The Carlyle Group L.P. of $8 million, or net income per common unit of $0.01, on a diluted basis. U.S. GAAP results for the twelve months ended March 31, 2016 included loss before provision for income taxes of $198 million. Total balance sheet assets were $9 billion as of March 31, 2016.

Carlyle adopted new U.S. GAAP consolidation guidance on January 1, 2016, which resulted in the deconsolidation of certain Carlyle sponsored funds and CLOs. While the adoption of this guidance impacted net income, it did not impact net income attributable to Carlyle Holdings or net income attributable to The Carlyle Group L.P. However, the adoption of this guidance reduced total assets, liabilities and partners' capital.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $178 billion of assets under management across 125 funds and 164 fund of funds vehicles as of March 31, 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 1,650 people in 36 offices across six continents.