Global alternative asset manager the Carlyle Group L.P. (CG: Quote) reported that its second-quarter economic net loss was $57.2 million, compared to economic net income of $236.8 million in the year ago quarter.
Net loss attributable to the company of $10.3 million for the second quarter of 2012. Loss for the latest-quarter was $0.26 per unit. The U.S. GAAP results for the second quarter of 2012 included income before provision for income taxes of $186 million.
For the second quarter of 2011, Carlyle was still a private partnership, and income before provision for income taxes was $317 million and net income attributable to Carlyle Holdings was $372 million.
Pro forma net loss per unit was $0.39 for the second quarter 2012.
GAAP total revenue for the quarter was $248.4 million, down from $755.8 million in the second quarter 2011.
Total Assets Under Management for the latest-quarter was $156.2 billion, compared to $159.2 billion in first-quarter and $108.0 billion in the second quarter last year.
The company said its board of Directors has declared a quarterly distribution of $0.11 to common unit holders of record at the close of business on August 20, 2012, payable on August 31, 2012. The $0.11 per common unit distribution is a prorated amount based on the pricing of The Carlyle Group L.P.'s initial public offering, which occurred on May 2, 2012.
The company noted that it intends to distribute $0.16 per quarter to common unit holders in each of the first three quarters of the calendar year.
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by RTT Staff Writer
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