The Carlyle Group
Manages private equity, credit and AlpInvest fund solutions through a global platform.
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Profile
Manages private equity, credit and AlpInvest fund solutions through a global platform. Its operating model combines global reach with segment specialization, while results depend on investment performance, fundraising and portfolio realizations.
Manages private capital through three business lines: Global Private Equity, Global Credit and Carlyle AlpInvest. The platform spans direct private-equity strategies, lending and other credit strategies, and private-equity fund solutions.
Operates from a Washington base through offices across four continents. The model pairs global reach with segment specialization, while AlpInvest adds fund-of-funds, secondary and co-investment capabilities alongside Carlyle’s direct investment businesses.
Relies on investment performance, fundraising, portfolio realizations, access to credit and the ability to recruit and retain investment professionals. Regulation also shapes the business, and founder-level governance continues alongside chief executive Harvey Schwartz’s day-to-day leadership.
Company facts
Categories
Key statistics
Year to date −19.3% · Average volume (30d) 3.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | UBS | Reiterate | Buy | $74 | $70 | |
| Aug 6, 2026 | Evercore ISI | Target | $56 | $51 | ||
| Aug 6, 2026 | Barclays | Reiterate | Overweight | $57 | $64 | |
| Jul 21, 2026 | Morgan Stanley | Target | $71 | $57 | ||
| Jul 13, 2026 | BMO Capital | Reiterate | Outperform | $65 | $52 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.91 | $1.07 | +17.5% | $923.5M | $1.11B | +20.4% | +3.54% |
| May 6, 2026Q1 FY26 | $0.91 | $0.89 | −2.2% | $1.01B | $750.9M | −25.8% | −3.52% |
| Feb 6, 2026Q4 FY25 | $1.00 | $1.01 | +1.4% | $1.05B | $1.09B | +4.0% | +0.85% |
| Oct 31, 2025Q3 FY25 | $1.02 | $0.98 | −3.9% | $989.9M | $780.5M | −21.2% | −2.83% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $807.8M | $1.18B | $780.5M | $1.84B | $189.6M | $1.15B | |
| Gross profit | $666.5M | $977.3M | $573.4M | $1.01B | $359.3M | $862.4M | |
| Operating income | $171.0M | $440.6M | $85.8M | $500.0M | −$140.4M | $312.0M | |
| Net income | $130.0M | $319.7M | $900.0K | $358.1M | −$132.2M | $137.1M | |
| Diluted EPS | $0.35 | $0.87 | $0.00 | $0.96 | −$0.37 | $0.37 | |
| Gross margin | 82.5% | 83.1% | 73.5% | 54.5% | 189.5% | 75.0% | |
| Operating margin | 21.2% | 37.5% | 11.0% | 27.1% | -74.1% | 27.1% |
Fiscal years (4-quarter sums)FY21 $5.82B · FY22 $3.68B · FY23 $1.87B · FY24 $4.09B · FY25 $4.61B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $2.04B · Total debt $14.25B · Total assets $28.20B · Shareholders' equity $7.21B
Dividends
Raised for 5 straight years — most recently to $0.35 from $0.325 in May 2023. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Aug 26 | $0.35 | |
| May 18, 2026 | May 18 | May 28 | $0.35 | |
| Feb 13, 2026 | Feb 16 | Feb 20 | $0.35 | |
| Nov 10, 2025 | Nov 10 | Nov 19 | $0.35 | |
| Aug 18, 2025 | Aug 18 | Aug 28 | $0.35 | |
| May 19, 2025 | May 19 | May 27 | $0.35 | |
| Feb 21, 2025 | Feb 21 | Feb 28 | $0.35 | |
| Nov 18, 2024 | Nov 18 | Nov 25 | $0.35 |
Ownership
Shares outstanding 359.97M · Float 261.67M · 72.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Daniel A. D'Aniello | 32.50M | 9.00% | 13G | Apr 17, 2025 |
| BlackRock, Inc. | 31.98M | 8.89% | 13F | Aug 7, 2026 |
| David M. Rubenstein · director | 27.40M | 7.61% | Form 4 | Mar 20, 2026 |
| William E. Jr Conway · director | 27.00M | 7.50% | Form 4 | Sep 5, 2025 |
| Harris Associates L P | 17.66M | 4.91% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 19, 2026 | David M. Rubenstein | director | −500,000 | $46.68 |
| Dec 10, 2025 | David M. Rubenstein | director | −625,000 | $56.55 |
Peers
- Blackstone
Broad-scale rival in buyouts, private credit, and secondaries
- KKR
Global rival across private-equity and credit strategies
- Apollo Global Management
Credit-heavy rival with buyout and secondaries capabilities
- Ares Management
Credit and secondaries specialist with a smaller private-equity arm
- Brookfield Asset Management
Real-assets-led manager also competing in private equity and credit
- TPG
Private-equity and credit rival spanning TPG and Angelo Gordon
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| The Carlyle Group | $49.09 | −0.02% | $17.67B | 51.0 | 11.9 | 4.5 | −29.3% |
| Blackstone | $142.86 | +0.35% | $171.97B | 31.6 | 22.2 | 10.7 | +2.4% |
| KKR | $108.40 | −0.21% | $97.58B | 34.2 | 16.3 | 4.6 | −44.8% |
| Apollo Global Management | $135.48 | +0.35% | $77.78B | 30.2 | 13.8 | 2.2 | +63.7% |
| Ares Management | $142.53 | +0.04% | $46.81B | 59.1 | 21.9 | 7.3 | +5.8% |
| Brookfield Asset Management | $51.52 | −1.14% | $83.22B | 30.3 | 25.6 | 15.4 | +58.7% |
| TPG | $53.97 | +0.03% | $20.69B | 62.0 | 16.9 | 4.4 | −31.8% |
| Median | 32.9 | 19.4 | 6.0 | +4.1% |