The party continues in private equity, with Carlyle Group (CG) popping 11% premarket after economic net income in Q4 nearly doubled consensus forecasts. Behind the beat are big gains in the carrying value of fund holdings and the harvesting of profits on a number of asset sales.
$6.3B in carry fund realized proceeds in Q4 brought the total to the year for $17.4B. 6% carry fund portfolio appreciation in Q4 brought the total for the year to 20%.
$3.8B in new capital was raised in Q4, bringing the year's total to $22B. $2.2B was put to work during the quarter, $8.2B for the year.