Carlyle Group's stock plummeted 5.21% in the Tuesday intraday trading session, underperforming the broader market. The significant drop was driven by the company's fourth-quarter profit missing analyst estimates, primarily due to lower proceeds from asset sales.

The alternative asset manager reported a profit available to shareholders of $384 million, or $0.92 per share, falling short of the analysts' expectations of $0.96 per share. Despite strong growth in its capital markets business, Carlyle's realized performance revenue, which is mostly driven by asset sales from its private equity arm, declined by 4.7% to $245.7 million.

While Carlyle achieved its financial goals for 2024, the profit miss overshadowed the company's record fee-related earnings of $287.4 million, a 13% increase from the previous year, and a 4% rise in assets under management to $441 billion. The company's private equity and real estate funds saw modest gains, while its global credit funds experienced a 3% increase.