Carlyle's second-quarter profit jumps on pick-up in fees, deals

Fee-related earnings, which provide stable income, rose 11% from a year ago.

Transaction and portfolio advisory fees, which Carlyle earns from arranging capital market deals for its portfolio companies and other clients, more than doubled to $110.5 million from a year earlier.

Big deals Carlyle recognized in the three months to June included the sale of Bermuda-based specialty insurer Vantage Group and Japanese lighting products supplier Iwasaki Electric.

Realized net performance revenue rebounded from a slump in the previous quarter, when asset sales failed to translate into gains for shareholders.

Inflows totaled $16.8 billion, boosted by a $5 billion commitment to its next U.S. buyout fund through a structured deal it offered to cornerstone investors in May.

Credit strategies attracted $5.8 billion and the AlpInvest secondaries business $4.5 billion.

Total assets under management stood at $485 billion, which is 4% higher than a year ago. AlpInvest grew 16% in that time, credit swelled 4%, while private equity assets shrank 1% as assets were sold.

Carlyle's stock has lost more than 14% of its market value so far this year, in line with other alternative asset managers.

Aug. 5 (Reuters) - Global investment firm Carlyle reported a jump in second-quarter profit on Wednesday, as fee-related earnings climbed and the group booked proceeds from deals in Japan and the U.S.