Carlyle rakes in £623m

CARLYLE raked in a profit of £623m in the first quarter of this year after it sold a slew of assets.

The US private equity giant sold £4.6bn worth of companies between January and March – including British advisory firm PA Consulting, which it sold for £1.8bn.

Private equity firms buy companies and aim to sell them in five to ten years for a profit.

Chief executive Kewsong Lee said as long as the deal-making environment remained ‘healthy’, and there were buyers willing to buy companies postpandemic, Carlyle would look to ‘ramp up’ the sale of the businesses it holds.