By Chibuike Oguh NEW YORK, Nov 7 (Reuters) - Private equity firm Carlyle Group Inc CG.O reported on Tuesday a smaller-than-expected 43% year-on-year drop in third-quarter distributable earnings, amid a slump in assets, mostly from its private equity portfolio. Firms like Carlyle have struggled to cash out on their assets amid volatility caused by geopolitical tensions, rising inflation and higher interest rates. Washington-based Carlyle said its realized performance revenues, mostly driven by asset sales from its private equity unit, plummeted by 76% to $180.4 million.