Carlyle’s global credit business has recorded a robust rise in assets under management (AUM) and distributable earnings over the second quarter.
Global credit assets grew seven per cent in the second quarter of this year, compared to the same quarter last year. The division’s AUM currently stands at $203bn (£152.5bn), representing a two per cent rise from the previous quarter.
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Credit inflows in the second quarter of this year were primarily driven by US structured credit and opportunistic credit strategies, the firm said.
Meanwhile, Carlyle’s global credit fee-earning AUM rose five per cent compared to the same quarter last year, reaching $163bn.
The division’s distributable earnings – the profits set to be paid out to shareholders – also grew strongly.
Distributable earnings derived from global credit reached $120.9m in the second quarter of this year, a 21 per cent rise compared to the same quarter last year.
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“We’re delivering record financial results, investing with conviction, and returning significant capital to our investors at a pace and scale that sets Carlyle apart in today’s market,” chief executive Harvey M. Schwartz said. “As market activity accelerates, we’re well-positioned to continue driving growth and deliver long-term value for our shareholders.”
The firm’s total distributable earnings, including those derived from private equity investments, reached $431m (£323.6m) in the second quarter of this year and $886m in the year to date.
Carlyle’s total AUM stands at $465bn in the second quarter of this year, representing a three per cent rise from the previous quarter.
Carlyle’s board also agreed a quarterly dividend of $0.35 per share.
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