Key facts
- Distributable earnings of $1.12 per share compared with $1 expected by analysts in estimates compiled by LSEG.
- Realized net performance revenue, Carlyle's share of profits from investment exits, rose to $99.8 million from $19.1 million.
- Assets under management rose 1% to $479 billion, and uninvested capital rose 5% to $94 billion.
- Inflows totaled $10.8 billion, driven by Carlyle's credit business, including a first close on an opportunistic credit fund.
- Carlyle deployed $11 billion of capital, including acquisitions of Chung Ho Group and Secturion Systems.
- CEO Harvey Schwartz said Carlyle has returned nearly $100 billion in capital to investors since the start of 2024.
Carlyle Group reported third-quarter distributable earnings of $1.12 per share on November 5, above the $1 expected in estimates compiled by LSEG. Distributable earnings represent the cash the asset manager uses to pay dividends to shareholders.
Realized net performance revenue, which reflects Carlyle's share of profits from investment exits, rose to $99.8 million in the quarter from $19.1 million a year earlier. The company said the traditional private equity model of buying and selling companies has been hampered by rising interest rates in recent years, but that it and some peers have accelerated investment exits and returned cash to investors.
Deals closed in the quarter included a 27% stake sale in Japanese X-ray testing tool maker Rigaku and the sale of electron microscopes manufacturer Tescan Group. CEO Harvey Schwartz said Carlyle has returned nearly $100 billion in capital to investors since the start of 2024.
Assets under management rose 1% to $479 billion, and uninvested capital rose 5% to $94 billion. Inflows totaled $10.8 billion, driven by the credit business and boosted by the first close of Carlyle's latest opportunistic credit fund and capital raised in its aviation business. Carlyle deployed $11 billion of capital, including the acquisitions of Korean home and healthcare appliance rental platform Chung Ho Group and hardware encryption firm Secturion Systems.
Schwartz said Carlyle is well positioned to accelerate growth in the years ahead, citing the early stages of a strong fundraising cycle and near-record levels of assets yet to start paying fees.