By Sabela Ojea
Carlyle Group reported a loss in the latest quarter after seeing its revenue drop.
The private-equity firm on Wednesday posted a fourth-quarter net loss of $692 million, or $1.92 a share, compared with a profit of $127.2 million, or 35 cents a share, for the same period a year earlier.
Carlyle booked a one-time non-cash $1.1 billion charge related to a realignment of its employee-compensation program, the firm said.
Distributable earnings, or profit that can be returned to shareholders, fell to $402.7 million, or 86 cents a share, from $433 million, or $1.01 a share, a year ago. Analysts polled by FactSet had forecast lower distributable earnings of $331.4 million.
Total assets under management rose 14%, to $426 billion, while total revenue dropped 29%, to $926.2 million.
Write to Sabela Ojea at [email protected]
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