Carlyle Group Inc.
reported a big jump in fourth-quarter earnings, driven by strong investment performance in some of its businesses and an upswing in fee-related revenue.
The Washington, D.C.-based firm reported net income of $647.6 million, or $1.77 a share, in the period. That compares with net income of $518.8 million, or $1.44 a share, a year earlier.
As with larger rival
Blackstone Inc.,
which reported results last week, Carlyle’s real-estate business led the way in terms of performance, returning 11%, roughly in line with the S&P 500.
The firm’s private-equity portfolio appreciated by 6%.
Carlyle’s fourth-quarter distributable earnings, or the portion of profit that could be returned to shareholders, came in at a record $902.8 million, or $2.01…
