2017-011

The Carlyle Group Announces Fourth Quarter and Full Year 2016 Financial Results

Declared a quarterly distribution of $0.16 per common unit for Q4 2016; Aggregate distribution of $1.55 per common unit for 2016

$8.7 billion in realized proceeds in Q4 2016 and a record $29.6 billion realized in 2016

$6.1 billion of invested capital in Q4 2016 and a record $17.9 billion invested in 2016

$3.5 billion in gross new capital raised and $2.7 billion raised on a net basis after redemptions in Q4 2016; $13.9 billion in gross new capital raised and $8.2 billion on a net basis after redemptions in 2016

U.S. GAAP net income (loss) attributable to The Carlyle Group L.P. of $(9) million and $6 million, or $(0.16) and $(0.08) per common unit on a diluted basis, for Q4 2016 and 2016, respectively

$175 million in net charges within Global Market Strategies relating to losses in Vermillion Asset Management and separation from Claren Road Asset Management; Q4 2016 Distributable Earnings impact of  $175 million and Economic Net Income impact of $75 million

Distributable Earnings of $7 million on a pre-tax basis for Q4 2016 and $652 million in 2016; excluding the net charges in Global Market Strategies, Distributable Earnings would have been $182 million for Q4 2016 and $827 million in 2016; Distributable Earnings per common unit of $0.00 in Q4 2016 and $1.85 in 2016, on a post-tax basis

Economic Net Income of $6 million and $306 million on a pre-tax basis and $0.02 and $0.76 per Adjusted Unit on a post-tax basis in Q4 2016 and in 2016, respectively, driven by carry fund appreciation of 5% in Q4 2016 and 12% in 2016

Washington, DC – Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG) today reported its unaudited results for the fourth quarter and full year ended December 31, 2016.

Carlyle Co-CEO David M. Rubenstein said, “Our core business performed well in 2016, but obviously we are disappointed with the losses in our hedge fund business. We are focused on raising $100 billion in new capital over several years, scaling our global credit business, and performing well for our fund and unitholder investors.”

Click here to read the full fourth quarter and full year 2016 earnings release.

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