For those interested in the math, the question of whether active or passive investing is superior has been pretty definitivelysettled. That is, as long as the math you are interested in is what’s better for investors. If, however, like the Carlyle Group, you are less concerned about making money for clients and more concerned about making it for yourself, well, it’s also pretty definitively settled.
Carlyle Group LP reported a first-quarter profit that exceeded Wall Street’s expectations as the value of its portfolio climbed in the face of market volatility….
“The beauty of our business is we don’t buy indexes,” said Carlyle co-Chief Executive Kewsong Lee on a conference call with analysts Tuesday. “I feel pretty good about our chances to continue to outperform on a relative basis.”
For whom was left unsaid. Not that this seems to matter to Carlyle’s clients.
Carlyle’s assets under management climbed to $201.5 billion, a 29% increase over the previous year.