Carlyle Revved Up Buyout Exits Last Quarter, Lifting Profits

Carlyle Group Inc. pulled off a string of private equity exits in the second quarter, boosting earnings during a stretch when other buyout rivals struggled to sell out of bets profitably.

Its buyout arm sold $3.7 billion of investments from traditional private equity-style funds — a 12-fold increase from the same period a year earlier, the Washington-based firm said Wednesday in a statement. That helped drive a 26% increase in distributable earnings.