Carlyle Group Reports Record $453 Billion AUM, Surpassing Earnings Estimates

The Carlyle Group reported strong first-quarter 2025 financial results, marked by record fee-related earnings and a 6% increase in assets under management, reaching $453 billion. Distributable earnings rose 5.6% to $455 million, or $1.14 per share, surpassing analyst expectations and driven by a 17% increase in fee-related earnings to $311 million. Growth was fueled by robust inflows of $14.2 billion and increased activity in the firm's global credit segment and secondary investments unit, with transaction and portfolio advisory fees nearly tripling. Carlyle's diversified business model, including private equity, credit, and capital markets operations, contributed to resilience despite ongoing market volatility and geopolitical uncertainties. The credit and capital markets arms now account for 55% of fee-related earnings, up from 40% the previous year, highlighting a strategic shift beyond traditional buyouts. Despite strong fundamentals, Carlyle's shares have declined nearly 21% year-to-date, in line with peer investment firms.