Carlyle has reported a fall in its income from $973.1m (£714m) within the first quarter of 2025 to $254m, a fall of roughly 74 per cent. Nevertheless, world credit score AUM was up 5 per cent year-on-year, with inflows pushed by its asset-backed finance, insurance coverage options, and Europe liquid credit score methods.
In its Q1 outcomes for 2026, the enterprise mentioned whole property below administration (AUM) had been up 5 per cent to $475bn, however this was flat in comparison with the earlier quarter as a 5 per cent improve in Carlyle Alphinvest AUM was offset by a one per cent lower in world credit score AUM, whereas world non-public fairness AUM fell by three per cent.
Learn extra: Apollo surpasses $1tn in property
World credit score deployment was $4.8bn in Q1 2026 and $29.4bn for the final 12 months. Q1 2026 exercise was pushed by the agency’s cross-platform credit score, direct lending, and asset-backed finance methods. Realised proceeds in conventional carry funds totaled $1.7bn in Q1 2026 and $5.6bn for the previous yr.
Payment-earning AUM jumped six per cent to $333bn, however fee-related earnings fell three per cent from $310.6m in 2025 to $300m within the first quarter of this yr.
“Our first quarter outcomes replicate continued momentum executing towards our strategic plan,” mentioned chief government officer Harvey Schwartz. “We stay disciplined and centered, and our conviction in Carlyle’s long-term earnings trajectory has by no means been stronger.”
Learn extra: “Document” Q1 fundraising lifts Ares to $644bn AUM