Another Private Equity Giant Loses Big In Q4
Carlyle Group’s profits tumbled 57% in Q4 ’15 from slowing asset sales, following Blackstone and Apollo’s similar dives for the quarter.
Not to be slowed, Carlyle (founder David Rubenstein, pictured) still inked several deals to close out 2015, acquiring insurance technology company Innovation Group and data analytics company Novetta Solutions.
Taking a page from Apollo's book, Carlyle plans to buy back up to $200M of its stocks, taking advantage of its 25% drop for the year, Bloomberg reports.
KKR, another Carlyle peer, is set to report its own Q4 earnings on Thursday. We’ll see if it fares any better. [Bloomberg]