NEW YORK Feb 8 Private equity firm Carlyle
Group L.P. posted sharply lower-than-expected
fourth-quarter earnings on Wednesday after taking losses on a
hedge fund business that it has since exited.
Carlyle said it had earned economic net income, a key metric
for U.S. private equity firms that accounts for unrealized gains
or losses in investments, of $6.4 million after taxes.
That translated to earnings of 2 cents per share, down from
24 cents a year earlier. Analysts on average had expected 41
cents, according to Thomson Reuters I/B/E/S.
"Obviously we are disappointed with the losses in our hedge
fund business," Carlyle Chief Executive Officer David Rubenstein
said in a statement.
(Reporting by Koh Gui Qing; Editing by Lisa Von Ahn)