Carlyle Group Inc (CG) Quarterly and Annual Segment Results by Country and Region - CSIMarket
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Carlyle Group Inc   (NASDAQ: CG)
    Sector  Financial    Industry Investment Services
   Industry Investment Services
   Sector  Financial

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Description of Carlyle Group Inc's Business Segments


The Carlyle Group Inc. is a prominent global investment firm that operates across a diversified platform, focusing on four main segments: Corporate Private Equity, Global Market Strategies, Real Assets, and Investment Solutions. Below is a detailed description of each segment, including the products and services offered.

1. Corporate Private Equity (CPE)

The Corporate Private Equity segment is a cornerstone of Carlyles business, having been established in 1990 with the launch of its first U.S. buyout fund. This segment manages a wide array of buyout and growth capital funds, each tailored to pursue specific corporate investment opportunities of different scales and growth trajectories. As of now, Carlyle has 32 active CPE funds, all structured as carry funds, and supports a diverse range of investment strategies through 56 active external co-investment entities.

Key Focus Areas:
- Buyout Funds: Carlyle’s buyout platform comprises 22 active funds invested in transactions across various industries and geographies, including the United States, Europe, Asia, the Middle East and North Africa (MENA), Sub-Saharan Africa, and South America. These funds focus on acquiring companies and optimizing their value, continually seeking to penetrate new market domains to leverage growth.

- Growth Capital Funds: This sector encompasses 10 active funds advised by four regionally focused teams in the U.S. Europe, and Asia, focusing primarily on middle-market and growth-oriented businesses. The strategy of these funds involves targeting firms with significant potential for operational improvement and strategic redirection, ensuring a firm footing while avoiding early-stage or venture-type investments.

Global Market Strategies (GMS)

Established in 1999, the Global Market Strategies segment advises a broad array of 68 active funds that explore various investment strategies encompassing leveraged loans, structured credit, energy mezzanine opportunities, distressed debt, and more.

Key Products and Specialties:
- Structured Credit Funds: These funds focus on performing senior secured bank loans, utilizing structured investment vehicles for enhanced investment opportunities.

- Distressed and Corporate Opportunities: Funds in this category invest in both liquid and illiquid securities of financially troubled companies, with strategies that may include restructuring pre-reorganization debt for controlling equity positions in reorganized companies.

- Middle Market Finance: This involves investing through Business Development Companies (BDCs) into first and second lien loans, primarily for middle-market companies with annual EBITDA of $10 million to $100 million.

- Energy Mezzanine Opportunities: The team here invests primarily in mezzanine debt for North American energy projects, seeking to capitalize on the capital needs in the burgeoning energy sector.

- Long/Short Credit Strategies: Managed by Claren Road Asset Management LLC, these hedge funds target pricing inefficiencies in corporate and municipal bonds and their derivatives.

- Emerging Market Equity and Macroeconomic Strategies: Emerging Sovereign Group LLC advises on several funds dedicated to equity investments in developing nations and strategies focused on macroeconomic shifts.

- Commodities Investments: Carlyle Commodity Management invests in both physical commodities and related derivatives through multiple hedge funds and structured products, seeking to achieve positive returns with low volatility.

Real Assets

Carlyle’s Real Assets segment was founded in 1997 and manages 26 active carry funds focused on tangible assets across real estate, infrastructure, energy, and natural resources. This segment extends into sectors such as oil and gas, power generation, and utilities.

Investment Focus Areas:
- Real Estate: Investments in various property types, including office spaces, hotels, residential units, industrial facilities, and senior living accommodations.

- Infrastructure: Pursues opportunities in operational assets with a focus on airports, toll roads, transportation, and water utilities, emphasizing both investment and development.

- Energy and Natural Resources: Investments in oil and gas exploration, production, midstream processing, and renewable energy projects, while also managing assets related to these sectors.

Investment Solutions

While the specific details of the Investment Solutions segment may not be elaborated upon as extensively as the other segments, it generally encompasses a range of services designed to optimize investment outcomes for clients by integrating various strategies across Carlyles platform. This segment typically involves providing sophisticated solutions that combine insights from Carlyles diversified investments, encompassing private equity, credit, and real asset strategies to deliver customized portfolio management services.

Conclusion

Carlyle Group Inc. has positioned itself as a leading investment firm with a robust segment structure that allows it to cater to a wide array of investors and investment strategies. By leveraging geographic and sectoral diversity, Carlyle continues to create value across its portfolio, adapting to market dynamics and emerging opportunities in various investment landscapes.


Composition of Carlyle Group Inc Revenues by Segments

 
Total Reportable Global Segments    253.54 % of total Revenue
Total Reportable Global Private Equity    134.53 % of total Revenue
Total Reportable Global Credit    99.92 % of total Revenue
Total Reportable Carlyle AlpInvest    61.18 % of total Revenue
Fund management fees    229.92 % of total Revenue
Fund management fees Total Reportable Global Segments    214.37 % of total Revenue
Fund management fees Total Reportable Global Private Equity    111.93 % of total Revenue
Fund management fees Total Reportable Global Credit    57.99 % of total Revenue
Fund management fees Total Reportable Carlyle AlpInvest    44.45 % of total Revenue
Portfolio advisory and transaction fees net and other Total Reportable Global Segments    21.3 % of total Revenue
Portfolio advisory and transaction fees net and other Total Reportable Global Private Equity    2.68 % of total Revenue
Portfolio advisory and transaction fees net and other Total Reportable Global Credit    18.58 % of total Revenue
Portfolio advisory and transaction fees net and other Total Reportable Carlyle AlpInvest    0.04 % of total Revenue
Fee related performance revenues Total Reportable Global Segments    17.87 % of total Revenue
Fee related performance revenues Total Reportable Global Private Equity    0.83 % of total Revenue
Fee related performance revenues Total Reportable Global Credit    12.64 % of total Revenue
Fee related performance revenues Total Reportable Carlyle AlpInvest    4.41 % of total Revenue
Performance revenues    -123.31 % of total Revenue
Performance revenues Total Reportable Global Segments    24.33 % of total Revenue
Performance revenues Total Reportable Global Private Equity    11.69 % of total Revenue
Performance revenues Total Reportable Global Credit    4.21 % of total Revenue
Performance revenues Total Reportable Carlyle AlpInvest    8.43 % of total Revenue
Principal investment income loss    25.35 % of total Revenue
Principal investment income loss Total Reportable Global Segments    11.1 % of total Revenue
Principal investment income loss Total Reportable Global Private Equity    4.65 % of total Revenue
Principal investment income loss Total Reportable Global Credit    3.66 % of total Revenue
Principal investment income loss Total Reportable Carlyle AlpInvest    2.8 % of total Revenue
Consolidated Funds Consolidated Funds    70.75 % of total Revenue
Reconciling Items    -263.54 % of total Revenue
Elimination of revenues of Consolidated Funds    19.17 % of total Revenue
Fund management fees Elimination of revenues of Consolidated Funds    -4.72 % of total Revenue
Total Reportable Segments    100.2 % of total Revenue
Performance allocations    -123.31 % of total Revenue
Performance allocations Total Reportable Global Segments    8.07 % of total Revenue
Performance revenues Adjustments    292.48 % of total Revenue
Principal investment income loss Adjustments    -14.25 % of total Revenue

Q1 three months ended (Mar 31 2026)
Revenues by Business Segments Revenues
(in millions $)
%
(of total Revenues)
Total Reportable Global Segments 644.00 253.54 %
Total Reportable Global Private Equity 341.70 134.53 %
Total Reportable Global Credit 253.80 99.92 %
Total Reportable Carlyle AlpInvest 155.40 61.18 %
Fund management fees 584.00 229.92 %
Fund management fees Total Reportable Global Segments 544.50 214.37 %
Fund management fees Total Reportable Global Private Equity 284.30 111.93 %
Fund management fees Total Reportable Global Credit 147.30 57.99 %
Fund management fees Total Reportable Carlyle AlpInvest 112.90 44.45 %
Portfolio advisory and transaction fees net and other Total Reportable Global Segments 54.10 21.3 %
Portfolio advisory and transaction fees net and other Total Reportable Global Private Equity 6.80 2.68 %
Portfolio advisory and transaction fees net and other Total Reportable Global Credit 47.20 18.58 %
Portfolio advisory and transaction fees net and other Total Reportable Carlyle AlpInvest 0.10 0.04 %
Fee related performance revenues Total Reportable Global Segments 45.40 17.87 %
Fee related performance revenues Total Reportable Global Private Equity 2.10 0.83 %
Fee related performance revenues Total Reportable Global Credit 32.10 12.64 %
Fee related performance revenues Total Reportable Carlyle AlpInvest 11.20 4.41 %
Performance revenues -313.20 -123.31 %
Performance revenues Total Reportable Global Segments 61.80 24.33 %
Performance revenues Total Reportable Global Private Equity 29.70 11.69 %
Performance revenues Total Reportable Global Credit 10.70 4.21 %
Performance revenues Total Reportable Carlyle AlpInvest 21.40 8.43 %
Principal investment income loss 64.40 25.35 %
Principal investment income loss Total Reportable Global Segments 28.20 11.1 %
Principal investment income loss Total Reportable Global Private Equity 11.80 4.65 %
Principal investment income loss Total Reportable Global Credit 9.30 3.66 %
Principal investment income loss Total Reportable Carlyle AlpInvest 7.10 2.8 %
Consolidated Funds Consolidated Funds 179.70 70.75 %
Reconciling Items -669.40 -263.54 %
Elimination of revenues of Consolidated Funds 48.70 19.17 %
Fund management fees Elimination of revenues of Consolidated Funds -12.00 -4.72 %
Total Reportable Segments 254.50 100.2 %
Performance allocations -313.20 -123.31 %
Performance allocations Total Reportable Global Segments 20.50 8.07 %
Performance revenues Adjustments 742.90 292.48 %
Principal investment income loss Adjustments -36.20 -14.25 %
Total 254.00 100 %




Q1 three months ended (Mar 31 2026)
Revenue Growth rates by Segment Y/Y Revenue
%
Q/Q Revenue
%
Total Reportable Global Segments 0.17 % -
Total Reportable Global Private Equity -46.25 % -
Total Reportable Global Credit -1.48 % -
Total Reportable Carlyle AlpInvest 3.67 % -
Fund management fees -0.36 % -
Fund management fees Total Reportable Global Segments 3.62 % -
Fund management fees Total Reportable Global Private Equity 0.46 % -
Fund management fees Total Reportable Global Credit 5.52 % -
Fund management fees Total Reportable Carlyle AlpInvest 9.72 % -
Portfolio advisory and transaction fees net and other Total Reportable Global Segments -30.55 % -
Portfolio advisory and transaction fees net and other Total Reportable Global Private Equity -53.1 % -
Portfolio advisory and transaction fees net and other Total Reportable Global Credit -25.55 % -
Portfolio advisory and transaction fees net and other Total Reportable Carlyle AlpInvest - -
Fee related performance revenues Total Reportable Global Segments 14.94 % -
Fee related performance revenues Total Reportable Global Private Equity - -
Fee related performance revenues Total Reportable Global Credit 11.46 % -
Fee related performance revenues Total Reportable Carlyle AlpInvest 4.67 % -
Performance revenues - -
Performance revenues Total Reportable Global Segments -82.6 % -
Performance revenues Total Reportable Global Private Equity -90.63 % -
Performance revenues Total Reportable Global Credit -19.55 % -
Performance revenues Total Reportable Carlyle AlpInvest -13.36 % -
Principal investment income loss - -
Principal investment income loss Total Reportable Global Segments -6 % -
Principal investment income loss Total Reportable Global Private Equity -21.85 % -
Principal investment income loss Total Reportable Global Credit 69.09 % -
Principal investment income loss Total Reportable Carlyle AlpInvest -24.47 % -
Consolidated Funds Consolidated Funds 34.71 % -
Reconciling Items - -
Elimination of revenues of Consolidated Funds - -
Fund management fees Elimination of revenues of Consolidated Funds - -
Total Reportable Segments 182.78 % -
Performance allocations - -
Performance allocations Total Reportable Global Segments -83.91 % -
Performance revenues Adjustments 461.95 % -
Principal investment income loss Adjustments - -
Total -73.9 % -94.69 %




Q1 three months ended (Mar 31 2026)
Income by Business Segments Income
(in millions $)
%
(Profit Margin)
Total -141.90 -




Q1 three months ended (Mar 31 2026)
Income Growth rates by Segment Y/Y Income
%
Q/Q Income
%
Total - -




Annual Report on Carlyle Group Inc Divisions, Sales by Country

 
Total Reportable Global Segments   Total Reportable Global Segments Segment contribution to total sales 55.29 % of total Revenue
Total Reportable Global Private Equity   Total Reportable Global Private Equity Segment contribution to total sales 44.9 % of total Revenue
Total Reportable Global Credit   Total Reportable Global Credit Segment contribution to total sales 22.99 % of total Revenue
Total Reportable Carlyle AlpInvest   Total Reportable Carlyle AlpInvest Segment contribution to total sales 13.73 % of total Revenue
Fund management fees   Fund management fees Segment contribution to total sales 50.14 % of total Revenue
Fund management fees Total Reportable Global Segments   Fund management fees Total Reportable Global Segments Segment contribution to total sales 46.93 % of total Revenue
Fund management fees Total Reportable Global Private Equity   Fund management fees Total Reportable Global Private Equity Segment contribution to total sales 24.61 % of total Revenue
Fund management fees Total Reportable Global Credit   Fund management fees Total Reportable Global Credit Segment contribution to total sales 12.74 % of total Revenue
Fund management fees Total Reportable Carlyle AlpInvest   Fund management fees Total Reportable Carlyle AlpInvest Segment contribution to total sales 9.58 % of total Revenue
Portfolio advisory and transaction fees net and other Total Reportable Global Segments   Portfolio advisory and transaction fees net and other Total Reportable Global Segments Segment contribution to total sales 4.71 % of total Revenue
Portfolio advisory and transaction fees net and other Total Reportable Global Private Equity   Portfolio advisory and transaction fees net and other Total Reportable Global Private Equity Segment contribution to total sales 0.82 % of total Revenue
Portfolio advisory and transaction fees net and other Total Reportable Global Credit   Portfolio advisory and transaction fees net and other Total Reportable Global Credit Segment contribution to total sales 3.89 % of total Revenue
Portfolio advisory and transaction fees net and other Total Reportable Carlyle AlpInvest   Portfolio advisory and transaction fees net and other Total Reportable Carlyle AlpInvest Segment contribution to total sales 0.01 % of total Revenue
Fee related performance revenues Total Reportable Global Segments   Fee related performance revenues Total Reportable Global Segments Segment contribution to total sales 3.65 % of total Revenue
Fee related performance revenues Total Reportable Global Private Equity   Fee related performance revenues Total Reportable Global Private Equity Segment contribution to total sales 0.01 % of total Revenue
Fee related performance revenues Total Reportable Global Credit   Fee related performance revenues Total Reportable Global Credit Segment contribution to total sales 2.41 % of total Revenue
Fee related performance revenues Total Reportable Carlyle AlpInvest   Fee related performance revenues Total Reportable Carlyle AlpInvest Segment contribution to total sales 1.23 % of total Revenue
Consolidated Funds Consolidated Funds   Consolidated Funds Consolidated Funds Segment contribution to total sales 13.29 % of total Revenue
Reconciling Items   Reconciling Items Segment contribution to total sales 5.08 % of total Revenue
Fund management fees Elimination of revenues of Consolidated Funds   Fund management fees Elimination of revenues of Consolidated Funds Segment contribution to total sales -0.89 % of total Revenue
Performance allocations   Performance allocations Segment contribution to total sales 25.58 % of total Revenue
Performance allocations Total Reportable Global Segments   Performance allocations Total Reportable Global Segments Segment contribution to total sales 21.7 % of total Revenue
Performance allocations Total Reportable Global Private Equity   Performance allocations Total Reportable Global Private Equity Segment contribution to total sales 17.69 % of total Revenue
Performance allocations Total Reportable Global Credit   Performance allocations Total Reportable Global Credit Segment contribution to total sales 2.05 % of total Revenue
Performance allocations Total Reportable Carlyle AlpInvest   Performance allocations Total Reportable Carlyle AlpInvest Segment contribution to total sales 1.96 % of total Revenue
Principal investment income   Principal investment income Segment contribution to total sales 2.49 % of total Revenue
Principal investment income Total Reportable Global Segments   Principal investment income Total Reportable Global Segments Segment contribution to total sales 3.18 % of total Revenue
Principal investment income Total Reportable Global Private Equity   Principal investment income Total Reportable Global Private Equity Segment contribution to total sales 1.18 % of total Revenue
Principal investment income Total Reportable Global Credit   Principal investment income Total Reportable Global Credit Segment contribution to total sales 1.24 % of total Revenue
Principal investment income Total Reportable Carlyle AlpInvest   Principal investment income Total Reportable Carlyle AlpInvest Segment contribution to total sales 0.76 % of total Revenue
Performance allocations Adjustments   Performance allocations Adjustments Segment contribution to total sales 1.49 % of total Revenue
Principal investment income Adjustments   Principal investment income Adjustments Segment contribution to total sales 0.68 % of total Revenue
Americas   Americas Segment contribution to total sales 68.66 % of total Revenue
EMEA   EMEA Segment contribution to total sales 30.36 % of total Revenue
Asia-Pacific   Asia-Pacific Segment contribution to total sales 0.97 % of total Revenue


Twelve months ended 2025
CG s Annual Revenue by Geography and Business Segments Sales
(in millions $)
%
(of total Sales)
Total Reportable Global Segments 2,642.70 55.29 %
Total Reportable Global Private Equity 2,146.20 44.9 %
Total Reportable Global Credit 1,099.10 22.99 %
Total Reportable Carlyle AlpInvest 656.20 13.73 %
Fund management fees 2,396.60 50.14 %
Fund management fees Total Reportable Global Segments 2,243.10 46.93 %
Fund management fees Total Reportable Global Private Equity 1,176.30 24.61 %
Fund management fees Total Reportable Global Credit 609.10 12.74 %
Fund management fees Total Reportable Carlyle AlpInvest 457.70 9.58 %
Portfolio advisory and transaction fees net and other Total Reportable Global Segments 225.10 4.71 %
Portfolio advisory and transaction fees net and other Total Reportable Global Private Equity 39.00 0.82 %
Portfolio advisory and transaction fees net and other Total Reportable Global Credit 185.80 3.89 %
Portfolio advisory and transaction fees net and other Total Reportable Carlyle AlpInvest 0.30 0.01 %
Fee related performance revenues Total Reportable Global Segments 174.50 3.65 %
Fee related performance revenues Total Reportable Global Private Equity 0.30 0.01 %
Fee related performance revenues Total Reportable Global Credit 115.20 2.41 %
Fee related performance revenues Total Reportable Carlyle AlpInvest 59.00 1.23 %
Consolidated Funds Consolidated Funds 635.30 13.29 %
Reconciling Items 243.00 5.08 %
Fund management fees Elimination of revenues of Consolidated Funds -42.50 -0.89 %
Performance allocations 1,222.50 25.58 %
Performance allocations Total Reportable Global Segments 1,037.40 21.7 %
Total 4,779.80 100 %
Performance allocations Total Reportable Global Private Equity 845.60 17.69 %
Performance allocations Total Reportable Global Credit 98.00 2.05 %
Performance allocations Total Reportable Carlyle AlpInvest 93.80 1.96 %
Principal investment income 119.20 2.49 %
Principal investment income Total Reportable Global Segments 151.80 3.18 %
Principal investment income Total Reportable Global Private Equity 56.30 1.18 %
Principal investment income Total Reportable Global Credit 59.40 1.24 %
Principal investment income Total Reportable Carlyle AlpInvest 36.10 0.76 %
Performance allocations Adjustments 71.10 1.49 %
Principal investment income Adjustments 32.60 0.68 %
Americas 3,281.90 68.66 %
EMEA 1,451.30 30.36 %
Asia-Pacific 46.60 0.97 %


Twelve months ended 2025
CG s Annual Income by Country and Business Segments Income
(in millions $)
%
(Profit Margin)
Total 944.70 19.76 %

Twelve months ended 2025
Annual Revenue and Income Growth by Country and Business Segments % Y/Y Sales Growth % Y/Y Income Growth
Total Reportable Global Segments 9.94 % -
Total Reportable Global Private Equity -4.55 % -
Total Reportable Global Credit 19.03 % -
Total Reportable Carlyle AlpInvest 35.72 % -
Fund management fees 9.53 % -
Fund management fees Total Reportable Global Segments 6.43 % -
Fund management fees Total Reportable Global Private Equity -2.95 % -
Fund management fees Total Reportable Global Credit 9.1 % -
Fund management fees Total Reportable Carlyle AlpInvest 35.74 % -
Portfolio advisory and transaction fees net and other Total Reportable Global Segments 37.59 % -
Portfolio advisory and transaction fees net and other Total Reportable Global Private Equity 58.54 % -
Portfolio advisory and transaction fees net and other Total Reportable Global Credit 33.86 % -
Portfolio advisory and transaction fees net and other Total Reportable Carlyle AlpInvest 50 % -
Fee related performance revenues Total Reportable Global Segments 31.5 % -
Fee related performance revenues Total Reportable Global Private Equity -95.65 % -
Fee related performance revenues Total Reportable Global Credit 5.59 % -
Fee related performance revenues Total Reportable Carlyle AlpInvest 253.29 % -
Consolidated Funds Consolidated Funds 0.59 % -
Reconciling Items -78.66 % -
Fund management fees Elimination of revenues of Consolidated Funds - -
Performance allocations -39.35 % -
Performance allocations Total Reportable Global Segments -3.58 % -
Total -11.91 % -13.42 %
Performance allocations Total Reportable Global Private Equity -8.8 % -
Performance allocations Total Reportable Global Credit 206.25 % -
Performance allocations Total Reportable Carlyle AlpInvest -19.62 % -
Principal investment income -50.06 % -
Principal investment income Total Reportable Global Segments 50.3 % -
Principal investment income Total Reportable Global Private Equity 13.28 % -
Principal investment income Total Reportable Global Credit 28.57 % -
Principal investment income Total Reportable Carlyle AlpInvest 607.84 % -
Performance allocations Adjustments - -
Principal investment income Adjustments - -
Americas -19.88 % -
EMEA 38.54 % -
Asia-Pacific -83.46 % -
Fee related performance revenues - -
Total Reportable Global Investment Solutions - -
Fund management fees Total Reportable Global Investment Solutions - -
Portfolio advisory and transaction fees net and other Total Reportable Global Investment Solutions - -
Fee related performance revenues Total Reportable Global Investment Solutions - -
Performance allocations Total Reportable Global Investment Solutions - -
Principal investment income Total Reportable Global Investment Solutions - -
Global Total Reportable Segments - -
Total Reportable Fund management fees Global Segments - -
Adjustments Fund management fees - -



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