Overview
Carlyle Group Inc. is a global private-markets investment manager. Its principal businesses are Global Private Equity, Global Credit, and Carlyle AlpInvest, which offers private-market investment solutions. Its strategies include corporate and growth buyouts, real estate, private and liquid credit, and secondary investments. Carlyle states its purpose is “to connect people, ideas, and capital to fuel growth for companies and performance for investors.” [1][2][3][4]
Founded in 1987, Carlyle reported $485.5 billion in assets under management as of June 30, 2026. It had more than 2,500 employees in 28 offices across four continents and reported $1,863.1 million in segment revenues for the six months ended June 30, 2026.[5][6][3][7] [1][2][3][4][6][7][5]
Products & services
Carlyle provides investment funds and managed programs across private equity, credit, and AlpInvest strategies. Global Private Equity offerings include buyout, growth, real estate, and infrastructure and natural-resources funds. Named strategies include U.S., Asia, Europe, and Japan buyout; Europe Technology; U.S. and Asia growth; Life Sciences; U.S., Core Plus, and International Real Estate; NGP Energy; Infrastructure & Renewable Energy; and International Energy.[8][9][10]
Global Credit offerings span insurance solutions, liquid and opportunistic credit, direct lending, asset-backed finance, aviation finance, infrastructure credit, cross-platform credit, and global capital markets. Named products and vehicles include U.S. and European CLOs, CLO investment products, revolving credit, CCOF/CSP opportunistic credit, direct-lending BDCs and European funds, an evergreen direct-lending fund, aviation-finance funds SASOF/CALF, and cross-platform credit including CTAC.[11][12][13][14][15][16][17]
Carlyle AlpInvest advises programs investing in private-equity fund interests and portfolios through secondaries and portfolio finance, managed co-investments, and primary fund investments; disclosed offerings include ASF/ASPF, ACF, CAPM, and CAPS. The latest reporting located gives AUM of approximately $162.7 billion for Global Private Equity, $211.1 billion for Global Credit, and $111.7 billion for Carlyle AlpInvest—approximately 33%, 44%, and 23%, respectively, of combined segment AUM. These are calculated shares of AUM, not product-level revenue or performance contributions.[18][19][20][21][22] [8][9][10][11][12][13][14][15][16][17][18][19][20][21][22]
Geographic presence
As of June 30, 2026, Carlyle reported more than 2,500 employees in 28 offices across four continents. Its largest offices were Washington, D.C., New York City, London and Hong Kong; its office directory also lists locations including Sydney, Beijing, Mumbai, Tokyo, Singapore, Seoul, Paris, Milan, Luxembourg and Barcelona.[23][24][25]
For FY2025, Carlyle reported total revenue of $4,779.8 million, allocated by the primary geographic focus of investment vehicles: Americas $3,281.9 million (69%), EMEA $1,451.3 million (30%) and Asia-Pacific $46.6 million (1%). The company defines the Americas as the United States or South America, EMEA as Europe, the Middle East and Africa, and Asia-Pacific as Asia, including China, Japan, India, South Korea and Australia. These figures reflect investment vehicles’ geographic focus rather than necessarily the location of customers or where revenue was earned.[26][27][28][29] [23][24][26][26][26][26][26][26][27][28][29][25]
Business segments
Carlyle reports three GAAP business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. Global Private Equity spans strategies including corporate buyout and growth, life sciences, real estate, infrastructure, and natural resources. Global Credit includes liquid and private credit strategies, insurance solutions, direct lending, aviation and asset-backed finance, and real estate- and infrastructure-related credit. Carlyle AlpInvest focuses on private-market investing, including secondaries and portfolio finance, co-investments, and primary investments. These are segment groupings; the listed strategies are not separate reportable segments.[30][31]
In 2025, segment revenues totaled $3,901.5 million. Global Private Equity contributed $2,146.2 million, or approximately 55%; Global Credit contributed $1,099.1 million, or approximately 28%; and Carlyle AlpInvest contributed $656.2 million, or approximately 17%. The percentages are calculated shares of reported total segment revenue.[30] [30][31]
Company history
Carlyle Group Inc. was founded in Washington, D.C., in 1987 by William “Bill” Conway Jr., Daniel A. D’Aniello, and David M. Rubenstein. The firm expanded internationally in the late 1990s, establishing European operations in 1997 and closing its first European fund in 1998; it began venture-capital investing in 1997 and later broadened its real-estate activities in Europe and Asia.[5][32][33][34]
In 2011, Carlyle and AlpInvest management acquired AlpInvest Partners, expanding the firm into private-equity secondaries and fund investing. Carlyle went public in 2012, beginning Nasdaq trading on May 3, and that year acquired a 47.5% revenue interest in NGP Energy Capital Management, expanding its natural-resources investment platform.[35][36][37][38]
Carlyle announced co-CEOs Kewsong Lee and Glenn Youngkin in 2018 and completed its conversion from a publicly traded partnership to a Delaware C corporation on January 1, 2020. Over this period, it expanded into aviation through its 2018 agreement to acquire Apollo Aviation Group, and into insurance through the 2020 acquisition of a majority interest in Fortitude Re alongside T&D. It acquired life-sciences investor Abingworth in 2022. After Lee’s departure and Conway’s interim return as CEO, Carlyle appointed Harvey Schwartz CEO effective February 15, 2023.[39][40][41][42][43][44][45] [5][32][33][34][35][36][37][38][39][40][41][42][43][44][45]
Sources
- Carlyle Group Inc. — Press release (2026 Q 2)
- Carlyle Group Inc. — Full financial report (2025 Y)
- ir.carlyle.com[5]
- Carlyle Group Inc. — Presentation (2026 Q 2)[6][23]
- Carlyle Group Inc. — Full financial report (2026 Q 2)
- www.carlyle.com[25]
- www.carlyle.com[32]
- www.carlyle.com[33]
- www.carlyle.com[34]
- www.privateequityinternational.com[35]
- docslib.org[36]
- www.sec.gov[37]
- www.carlyle.com[38]
- www.carlyle.com[39]
- www.sec.gov[40]
- ir.carlyle.com[41]
- aig.gcs-web.com[42]
- www.abingworth.com[43]
- www.carlyle.com[44]
- www.carlyle.com[45]
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