Carlyle Group’s Profit Drops as Investment Performance Slides

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Carlyle Group Inc. reported lower second-quarter earnings Thursday as the value of its investments appreciated less than a year ago.

The Washington-based alternative-investments manager said it earned $245.4 million, or 67 cents a share, in the three months ended June 30. That is down from $925 million, or $2.55 a share, in the same period…