May 8 (Reuters) - Global investment firm Carlyle Group ( CG )

posted a 5.6% growth in first-quarter profit on Thursday,

helped by higher fees as its assets under management climbed to

a record.

Distributable earnings, which measures cash that can be

returned to shareholders, was $455.4 million, or $1.14 per

share, for the three months ended March 31. That compares with

$431.3 million, or $1.01 per share, a year earlier.

While markets have been volatile for most of the year

because of economic uncertainty and U.S. President Donald

Trump's tariff rhetoric, large asset managers such as Carlyle

have navigated the environment with relative ease.

Their portfolio of investments can fetch millions in

management fees, providing stability even when exit

opportunities are scarce, and allowing them to capitalize on

disruptions and snap up assets at a bargain.

Carlyle's fee-related earnings rose 17% to a record $310.6

million. Fund management fees grew 2% while transaction and

portfolio advisory fees - which it earns from arranging capital

markets deals for its portfolio companies and other clients -

jumped nearly three-fold.

AUM was $453 billion, up 6% from a year earlier, thanks to

growth in its global credit segment and in AlpInvest, its

secondary investments unit.

The Washington, D.C.-based company recorded inflows of $14.2

billion. It deployed $11.1 billion and had $84 billion available

for investment.

So far this year, Carlyle shares have dropped nearly 21%.

Peers Blackstone, KKR and Apollo have

fallen 21%, 21.4% and 21.7%, respectively.

(Reporting by Niket Nishant in Bengaluru; Editing by Devika

Syamnath)