With total assets on the balance sheet for Carlyle of $32 billion as of 12-31 2015, by U. S. GAAP (Generally Accepted Accounting Principles) numbers, for the fourth quarter 2015 Carlyle reported a loss of $151 million before provision for income taxes, and a net loss of $3 million. Earnings per share (EPS) of stock were -$0.04 on a diluted basis.
Co-CEO David Rubenstein, noting the challenging market in 2015, said “The equity market currently ascribes little value to our diversified investment platform. We are announcing a $200 million repurchase program as we see great value in Carlyle units.”
Carlyle Co-CEO William E. Conway added, “Recent market volatility has created a challenging but opportune investment environment for many of our fund teams. Our current pipeline is strong and we believe that good deals can be financed in the current market. As of early February, we already have signed contracts for approximately $4 billion of new investments and $4 billion of realized proceeds, which we expect to complete during the first half of the year.”
Carlyle has acquired a portfolio of manufactured home communities (MHC), the most recent, as MHProNews reported Sept. 22, 2015, investing $42 million in Pacific Skies Estates in Pacifica, Calif. to upgrade this 93 home site MHC overlooking the Pacific Ocean. Pacific Skies plans to buy luxurious MHs and rent them out.
Work on the project was halted following a dispute that arose between the California Coastal Commission and Pacific Skies over the necessity of a permit, as MHProNews reported here Jan. 25, 2016. In addition, it is not clear if all the residents have left the community. The owners were trying to have all the residents moved out by the end of January. A public hearing has been set for April 13.
In trading on the stock market today, as we reported on our stock report, Feb. 10, Carlyle closed up +1.45 percent at $11.86. ##
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