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Carlyle beats view in second quarter, Apollo matches; both draw more cash

(Reuters) - Buyout firm Carlyle Group LP on Wednesday posted quarterly earnings that topped expectations while rival Apollo Global Management LLC's profits matched estimates as risk-taking investors facing a low-interest rate environment poured more money into their funds.

The strong results from Carlyle and Apollo mirrored a broader industry trend as a rising stock market boosted overall returns, offsetting a 9 percent fall in oil prices last quarter that dragged on the performances of some funds.

Carlyle (CG.O) shares jumped 4.5 percent to $21.63 while Apollo (APO.N) added 1.5 percent to $28.77.

Even though U.S. buyout fund returns have fallen to around 15 percent after accounting for manager fees, from the 20 percent range seen in the...


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