Carlyle Group Inc. CG 4.64% reported a first-quarter loss, as the coronavirus pandemic hurt the value of its investments. However, the firm’s private-equity portfolio proved more resilient than the broader market, and cash that could be returned to shareholders climbed from the previous year.

Carlyle posted a net loss of $612m, or $1.76 a share, compared with a profit of $142.9m, or $1.18 a share, in the comparable quarter last year.