Carlyle Group reported on 8 November that its third-quarter net income declined as a slump in publicly traded stocks hit the value of its private equity holdings.

The US asset manager posted net earnings of $280.8m, or 77 cents a share, in the three months ended 30 September. That is 47% less than the same period of 2021, when the firm earned $532.8m, or $1.46 a share.