The Carlyle Group CG Business Segments
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Total by Business | |||||
| Carlyle AlpInvest | $594.6M+12.9% | $526.7M+76.0% | $299.2M— | —— | |
| Global Credit | $4.68B+3.4% | $4.53B+15.5% | $3.92B+1.6% | $3.86B+29.3% | |
| Global Private Equity | $1.16B-64.3% | $3.27B+155% | $1.28B-56.8% | $2.96B-44.9% | |
| Interest and other income by Business | |||||
| Carlyle AlpInvest | $9.3M+22.4% | $7.6M+28.8% | $5.9M— | —— | |
| Global Credit | $31.6M-19.0% | $39M+12.4% | $34.7M+127% | $15.3M+173% | |
| Global Private Equity | $28.7M+2.1% | $28.1M-11.1% | $31.6M+112% | $14.9M+964% | |
| Interest Income (Expense), Nonoperating by Business | |||||
| Carlyle AlpInvest | -$4.5M-12.5% | -$4M-29.0% | -$3.1M— | —— | |
| Global Credit | -$18M-28.6% | -$14M-35.9% | -$10.3M+40.5% | -$17.3M+15.6% | |
| Global Private Equity | -$31.6M-12.1% | -$28.2M+20.1% | -$35.3M+27.7% | -$48.8M— | |
| (-) Realized principal investment income by Business | |||||
| Carlyle AlpInvest | $36.1M+608% | $5.1M-20.3% | $6.4M— | —— | |
| Global Credit | $60.3M+30.5% | $46.2M+24.5% | $37.1M-2.6% | $38.1M+19.4% | |
| Global Private Equity | $56.3M+13.3% | $49.7M+9.7% | $45.3M-58.3% | $108.7M— | |
| Distributable Earnings by Business | |||||
| Carlyle AlpInvest | $319.4M+67.3% | $190.9M+126% | $84.3M— | —— | |
| Global Credit | $481M+27.5% | $377.3M+37.5% | $274.4M-13.0% | $315.5M+164% | |
| Global Private Equity | $890.8M-6.9% | $957.3M-10.7% | $1.07B-28.8% | $1.51B-25.5% | |
| Fee Related Earnings by Business | |||||
| Carlyle AlpInvest | $273.8M+57.9% | $173.4M+147% | $70.2M— | —— | |
| Global Credit | $401.5M+20.8% | $332.5M+48.2% | $224.4M0.0% | $224.5M+101% | |
| Global Private Equity | $560.9M-6.3% | $598.7M+6.0% | $564.8M+4.5% | $540.6M+34.4% | |
| Interest by Business | |||||
| Carlyle AlpInvest | $13.8M+19.0% | $11.6M+28.9% | $9M— | —— | |
| Global Credit | $49.6M-6.4% | $53M+17.8% | $45M+38.0% | $32.6M+24.9% | |
| Global Private Equity | $60.3M+7.1% | $56.3M-15.8% | $66.9M+5.0% | $63.7M-0.2% | |
| General, administrative and other expenses by Business | |||||
| Carlyle AlpInvest | $82M+48.8% | $55.1M+15.3% | $47.8M— | —— | |
| Global Credit | $140.3M-0.1% | $140.4M+31.5% | $106.8M+9.3% | $97.7M+54.8% | |
| Global Private Equity | $228.1M+16.9% | $195.2M-12.0% | $221.9M-5.7% | $235.3M+36.4% | |
| Expenses by Business | |||||
| Carlyle AlpInvest | $1.98B-6.9% | $2.12B+71.5% | $1.24B— | —— | |
| Global Credit | $1.21B+8.6% | $1.11B+9.1% | $1.02B+72.3% | $591.8M+32.0% | |
| Global Private Equity | $2.39B-9.6% | $2.64B+14.0% | $2.32B+7.8% | $2.15B+4.9% | |
| Labor and Related Expense by Business | |||||
| Carlyle AlpInvest | $232.8M+6.3% | $219.1M+8.2% | $202.5M— | —— | |
| Global Credit | $411.8M+21.3% | $339.5M-1.5% | $344.8M-0.2% | $345.5M+47.4% | |
| Global Private Equity | $937.6M-7.4% | $1.01B+13.6% | $891.9M-33.9% | $1.35B— | |
| Depreciation and amortization expense by Business | |||||
| Carlyle AlpInvest | $8.2M+20.6% | $6.8M+54.5% | $4.4M— | —— | |
| Global Credit | $16.4M+24.2% | $13.2M+73.7% | $7.6M-7.3% | $8.2M+2.5% | |
| Global Private Equity | $29.4M+9.7% | $26.8M+3.1% | $26M+1.6% | $25.6M+2.0% | |
| Accrued performance allocations by Business | |||||
| Carlyle AlpInvest | $7.24B— | —— | —— | —— | |
| Global Credit | $2.67B+47.2% | $1.81B+69.6% | $1.07B+12.9% | $946.8M-0.4% | |
| Global Private Equity | $19.25B+12.1% | $17.17B-10.4% | $19.17B-22.2% | $24.64B-1.1% | |
| Fund management fees and incentive fees by Business | |||||
| Carlyle AlpInvest | $656.2M+35.7% | $483.5M+38.9% | $348M— | —— | |
| Global Credit | $1.1B+19.0% | $923.4M+18.6% | $778.6M-2.6% | $799.5M+77.2% | |
| Global Private Equity | $2.15B-4.5% | $2.25B-1.3% | $2.28B-28.3% | $3.18B— | |
| Cash-based compensation and benefits by Business | |||||
| Carlyle AlpInvest | $153M+28.8% | $118.8M-3.9% | $123.6M— | —— | |
| Global Credit | $351.9M+9.9% | $320.1M-1.4% | $324.5M+14.2% | $284.2M+19.9% | |
| Global Private Equity | $397.2M-6.1% | $422.8M-27.6% | $583.8M-2.4% | $598.3M+9.5% | |
| Accrued giveback obligations by Business | |||||
| Global Credit | $102M-0.1% | $102.1M+6.1% | $96.2M+7.5% | $89.5M+291% | |
| Global Private Equity | $104.6M+41.9% | $73.7M+0.1% | $73.6M0.0% | $73.6M0.0% | |
| Total by Product | |||||
| Realized | $280.5M+52.0% | $184.5M-20.4% | $231.7M+217% | $73.1M-72.5% | |
| Unrealized | -$158M— | —— | -$115.1M-121% | $546.4M+87.9% | |
| Investment income (loss) by Product | |||||
| Realized | $833.1M-20.5% | $1.05B+20.8% | $867M-57.7% | $2.05B-30.7% | |
| Unrealized | $389.4M-61.9% | $1.02B+207% | -$955.6M-32.5% | -$721.3M-123% | |
| Fund management fees and incentive fees by Product | |||||
| Fee related performance revenues | $349M+31.5% | $265.4M-17.6% | $322M+149% | $129.3M+199% | |
| Fund management fees | $2.44B+10.0% | $2.22B+6.9% | $2.07B+0.9% | $2.06B+21.6% | |
| Incentive fees | $197.1M+46.9% | $134.2M+39.4% | $96.3M+50.9% | $63.8M+30.7% | |
| Portfolio advisory and transaction fees, net and other | $450.2M+37.6% | $327.2M+103% | $160.8M— | —— | |
| Performance revenues by Product | |||||
| Performance allocations | $2.34B-14.2% | $2.73B+130% | $1.18B— | —— | |
| Principal investment income (loss) | $286.4M+7.0% | $267.7M+40.8% | $190.1M-66.9% | $573.9M-13.8% | |
| Investment income by Product | |||||
| Principal investment income (loss) from investments in CLOs and other investments - realized | -$1.7M— | —— | -$1.1M— | —— | |
| Principal investment income (loss) from investments in CLOs and other investments- unrealized | -$1.6M-130% | $5.3M-80.1% | $26.7M— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does The Carlyle Group break its business down?
- The Carlyle Group (CG) reports total by business across 3 parts — Carlyle AlpInvest, Global Credit and Global Private Equity. Each is extracted from the segment footnotes and tracked over time.
- Where does The Carlyle Group's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in The Carlyle Group's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
