olivLaw · US equity research
The Carlyle Group Inc. CG
Investment Advice · SIC 6282 · Vertical: Investment Advice (SIC 6282)
Carlyle is one of the world's largest global investment firms, raising and managing private capital through three segments: global private equity, global credit and Carlyle AlpInvest. In mid-2026 the firm reported one of its strongest quarters in recent years, with record fee related earnings and large capital distributions to clients.
At the close of 04 Nov 2026, The Carlyle Group Inc. (CG) stock was 42.75 USD (+4.52% on the day), with market capitalisation 15.2 bn USD, P/E 44.6 on diluted EPS of 0.96 USD over the last 12 months, dividend yield 3.27%, beta 1.71, 52-week range 35.77–66.12 USD. Latest reported quarter (Q2 2026): revenue of 1.1 bn USD (−28.6% YoY), net income of 137.1 m USD (−57.1% YoY), diluted EPS 0.37 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 66.0
- strong (55–70)
- Bollinger (20, 2)
- 35.10 – 42.10
- above the upper band · %B 1.09 · band width 18.1%
- SMA 50 / 200
- 41.01 / 46.93
- mixed trend
- MACD (12, 26, 9)
- 0.25 / -0.45
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +8.7% | −2.0% | +10.7 pp | — |
| 3 months | −14.2% | −2.2% | −12.1 pp | — |
| 6 months | −15.8% | +4.3% | −20.1 pp | — |
| Year to date | −27.7% | +10.6% | −38.2 pp | — |
| 1 year | −16.4% | +10.5% | −26.9 pp | −2.5% |
| 3 years | +45.5% | +73.7% | −28.2 pp | +21.9% |
| 5 years | −28.5% | +61.7% | −90.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.6 bn | 1.0 bn | 973.1 m | 1.6 bn | 332.7 m | 1.9 bn | 254.0 m | 1.1 bn |
| Depreciation & amortisation | 46.2 m ≈ | 47.1 m | 46.9 m | 47.7 m ≈ | 48.5 m ≈ | 49.0 m | 50.5 m | 51.3 m ≈ |
| Interest expense | 30.3 m | 29.5 m | 27.8 m | 28.0 m | 29.8 m | 38.3 m | 38.6 m | 38.2 m |
| Pre-tax income | 788.8 m | 265.4 m | 171.0 m | 440.6 m | 85.8 m | 461.8 m | -179.0 m | 273.8 m |
| Income tax | 173.1 m | 38.1 m | 12.4 m | 112.5 m | -26.7 m | 116.3 m | -37.1 m | 49.0 m |
| Net income | 595.7 m | 210.9 m | 130.0 m | 319.7 m | 900.0 k | 358.1 m | -132.2 m | 137.1 m |
| Diluted EPS | 1.63 | 0.57 ≈ | 0.35 | 0.87 | 0.00 | 0.96 ≈ | -0.37 | 0.37 |
| Operating cash flow | 791.9 m ≈ | -352.8 m | -352.1 m | -168.8 m ≈ | -1.6 bn ≈ | -1.2 bn | -1.2 bn | -500.0 k ≈ |
| Capex | 19.1 m ≈ | 26.7 m | 16.7 m | 17.5 m ≈ | 23.2 m ≈ | 42.0 m | 28.1 m | 32.0 m ≈ |
| Dividends paid | 125.5 m ≈ | 125.2 m | 126.4 m | 126.3 m ≈ | 126.5 m ≈ | 125.9 m | 126.4 m | 125.7 m ≈ |
| Share repurchases | 150.5 m ≈ | 75.8 m | 176.5 m | 103.6 m ≈ | 202.7 m ≈ | 203.7 m | 204.8 m | 304.1 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 94 percentile of its own 32-quarter history (min 5.4, median 14.1, max 171.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.4 bn | 3.4 bn | 2.9 bn | 8.8 bn | 4.4 bn | 3.0 bn | 5.4 bn | 4.8 bn |
| Revenue YoY | −34.0% | +39.1% | −13.1% | +199.3% | −49.5% | −33.2% | +83.1% | −11.9% |
| Net income | 116.5 m | 380.9 m | 348.2 m | 3.0 bn | 1.2 bn | -608.4 m | 1.0 bn | 808.7 m |
| Net income YoY | −52.3% | +227.0% | −8.6% | +754.3% | −58.8% | −149.7% | unavailable | −20.7% |
| Diluted EPS | 0.82 | 2.82 | 0.97 | 8.20 | 3.35 | -1.68 | 2.77 | 2.18 |
| Diluted EPS YoY | −65.5% | +243.9% | −65.6% | +745.4% | −59.1% | −150.1% | unavailable | −21.3% |
| net % | 4.8% | 11.3% | 11.9% | 33.9% | 27.6% | -20.5% | 18.8% | 16.9% |
| Free cash flow | -374.8 m | 330.8 m | -230.4 m | 1.7 bn | -419.9 m | 138.3 m | -837.2 m | -3.4 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.0 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 7.1 bn USD
- Total assets
- 29.1 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 12.1%
- ROA
- 3.1%
- FCF margin
- -70.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.9 bn | 8.8 bn | 4.4 bn | 3.0 bn | 5.4 bn | 4.8 bn | SEC (XBRL)· 27 Feb 2026verified |
| Depreciation & amortisation | 52.1 m | 52.0 m | 147.4 m | 180.6 m | 184.1 m | 192.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Interest expense | 94.0 m | 113.3 m | 110.4 m | 123.8 m | 121.0 m | 123.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Pre-tax income | 580.0 m | 4.0 bn | 1.6 bn | -600.9 m | 1.4 bn | 1.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | 197.2 m | 982.3 m | 287.8 m | -104.2 m | 302.6 m | 214.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 348.2 m | 3.0 bn | 1.2 bn | -608.4 m | 1.0 bn | 808.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 0.97 | 8.20 | 3.35 | -1.68 | 2.77 | 2.18 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 358.4 m | 362.6 m | 365.7 m | 361.4 m | 368.0 m | 370.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividend per share | — | — | — | 1.40 | 1.40 | 1.40 | SEC (XBRL)· 27 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 987.6 m | 2.5 bn | 1.4 bn | 1.4 bn | 1.3 bn | 2.0 bn | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 149.2 m | 143.9 m | 139.9 m | 161.5 m | 185.3 m | 224.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Goodwill | 16.8 m | 13.3 m | 103.9 m | 104.0 m | 103.6 m | 104.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | 31.9 m | 21.6 m | 793.9 m | 662.1 m | 530.5 m | 402.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 15.6 bn | 21.3 bn | 21.4 bn | 21.2 bn | 23.1 bn | 29.1 bn | SEC (XBRL)· 27 Feb 2026verified |
| Long-term debt | 2.0 bn | 2.1 bn | 2.3 bn | — | — | — | SEC (XBRL)· 04 May 2023verified |
| Total liabilities | 12.7 bn | 15.5 bn | 14.6 bn | 15.4 bn | 16.8 bn | 22.1 bn | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 2.9 bn | 5.7 bn | 6.8 bn | 5.8 bn | 6.3 bn | 7.1 bn | SEC (XBRL)· 27 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -169.2 m | 1.8 bn | -379.3 m | 204.9 m | -759.5 m | -3.3 bn | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 61.2 m | 41.4 m | 40.6 m | 66.6 m | 77.7 m | 99.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | -230.4 m ≈ | 1.7 bn ≈ | -419.9 m ≈ | 138.3 m ≈ | -837.2 m ≈ | -3.4 bn ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -61.2 m | -32.2 m | -828.8 m | -43.6 m | -77.6 m | -99.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | 370.3 m | -242.5 m | 114.8 m | -99.6 m | 682.8 m | 4.0 bn | SEC (XBRL)· 27 Feb 2026verified |
| Dividends paid | 351.3 m | 355.8 m | 443.6 m | 497.7 m | 503.0 m | 505.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | 26.4 m | 161.8 m | 185.6 m | 203.5 m | 554.6 m | 686.5 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 15.2 bn USD
Key indicators
Coverage and freshness
Score by group
54% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 15.52 – 26.82 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E15.52 – 26.82 (Mid 20.90)28 companies used · median multiple 21.8x · quartiles 16.2x – 28.0xAAMI, ABX, AMG, AMP, APAM, APO, ARES, BEN, BVC, BX, CNS, GCMG, GROW, HLI, HNNA, KKR, LAZ, MORN, NOAH, PAX, PJT, RILY, RPC, TROW, VALU, VCTR, VRTS, WHG
- Dividend discount (DDM)18.40 – 24.74 (Mid 21.10)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 10.1% | 36 (vs peers) | 12% |
| FCF conversion · Quality | -1,132.9% | 0 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | 2.5% | 21 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | -13.3% | 0 (on a fixed band) | 15% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 44.6x | 9 (vs peers) | 19% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -27.1% | 0 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 9.3% | 100 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth10/100 · 2/2 factors with a value
- Quality18/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation5/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Carlyle Group Inc. (CG). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 4.8 bn USD in 2025; YoY growth -11.9%; net margin 10.1%; ROE 5.2%.
The estimated value range is 16.96–25.78 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 21.00 USD, the price of 42.75 USD leaves a potential of -50.9% (value / price − 1) and a margin of safety of -103.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Shareholder yield (distributions): 9.3%
What contradicts it
- FCF conversion: -1,132.9%
- Revenue CAGR 3Y: 2.5%
- EPS CAGR 3Y: -13.3%
- P/E (TTM): 44.6x
- FCF yield: -27.1%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, Current ratio, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Investment Advice (SIC 6282) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BXBlackstone Inc. | 88.7 bn | 26.5 | 40.5% | 21.8% | +9.2% | −19% / +5% |
| KKRKkr & Co. Inc. | 86.2 bn | 27.3 | 10.6% | 14.8% | −11.0% | −22% / +27% |
| APOApollo Global Management, Inc. | 67.1 bn | 40.5 | 9.3% | 5.2% | +22.7% | −14% / +23% |
| AMPAmeriprise Financial, Inc. | 43.8 bn | 11.4 | 72.0% | 20.7% | +5.5% | +11% / +43% |
| TROWPrice T Rowe Group Inc | 22.7 bn | 10.7 | 19.7% | 28.4% | +3.1% | +4% / +6% |
| BENFranklin Resources Inc | 16.4 bn | 21.7 | 6.8% | 8.7% | +3.5% | +43% / +30% |
| CGCarlyle Group Inc. | 15.2 bn | 44.6 | 5.2% | 10.1% | −11.9% | −16% / +46% |
| ARESAres Management Corporation | 14.1 bn | 22.2 | 15.3% | 12.0% | +28.9% | −13% / +22% |
| IVZInvesco Ltd. | 12.9 bn | — | -0.6% | -1.2% | +5.1% | +20% / +106% |
| AMGAffiliated Managers Group, Inc. | 9.4 bn | 17.8 | 18.9% | 26.9% | +1.6% | +36% / +169% |
| MORNMorningstar, Inc. | 9.1 bn | 21.4 | 35.1% | 17.0% | +7.5% | +14% / −14% |
| VCTRVictory Capital Holdings, Inc. | 7.4 bn | 20.6 | 19.0% | 29.6% | +46.2% | +91% / +274% |
| MAASMAASE Inc. | 4.9 bn | — | -7.2% | -102.1% | −75.2% | +182% / −95% |
| LAZLazard, Inc. | 4.5 bn | 24.4 | 20.6% | 5.5% | +1.5% | −19% / +36% |
| PJTPJT Partners Inc. | 3.9 bn | 19.7 | 83.2% | 10.6% | +14.8% | −6% / +76% |
| CNSCohen & Steers, Inc. | 3.9 bn | 23.3 | 29.2% | 28.2% | +7.5% | +20% / +29% |
| APAMArtisan Partners Asset Management Inc. | 3.3 bn | 9.3 | 73.1% | 24.5% | +7.6% | −2% / +7% |
| AAMIAcadian Asset Management Inc. | 3.3 bn | 32.4 | — | 15.2% | +11.5% | +104% / +425% |
| NOAHNoah Holdings Ltd | 2.4 bn | 30.7 | 5.8% | 21.4% | +4.8% | −31% / −45% |
| ABXAbacus Global Management, Inc. | 885.0 m | 32.5 | 6.6% | 10.5% | +110.2% | +37% / +31% |
| VRTSVirtus Investment Partners, Inc. | 853.6 m | 7.4 | 12.6% | 14.0% | −6.0% | −19% / −34% |
| GCMGGCM Grosvenor Inc. | 550.6 m | 30.0 | 682.1% | 7.8% | +8.5% | +19% / +61% |
| VALUValue Line, Inc. | 416.6 m | 21.0 | 18.7% | 60.3% | −4.7% | +20% / +6% |
| WHGWestwood Holdings Group, Inc. | 182.5 m | 21.9 | 6.4% | 7.8% | +3.2% | +14% / +75% |
| RILYBRC Group Holdings, Inc. | 154.0 m | 0.3 | — | 35.9% | +29.6% | −12% / −79% |
1- and 3-year price returns: for CG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 26.40 Total return -36% · Per year -36% | 46.71 Total return 12% · Per year 12% | 70.43 Total return 68% · Per year 68% |
| 3 years | 24.60 Total return -37% · Per year -14% | 49.08 Total return 22% · Per year 7% | 81.38 Total return 100% · Per year 26% |
| 5 years | 22.92 Total return -38% · Per year -9% | 51.56 Total return 33% · Per year 6% | 94.05 Total return 137% · Per year 19% |
- Exit P/E± 12.27
- Net margin± 8.59
- Annual revenue growth± 7.19
- Annual dilution± 0.72
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Carlyle is one of the world's largest global investment firms, raising and managing private capital through three segments: global private equity, global credit and Carlyle AlpInvest. In mid-2026 the firm reported one of its strongest quarters in recent years, with record fee related earnings and large capital distributions to clients 13.
SWOT
Strengths
- Global platform diversified across three segments, with presence in several regions and a broad investor base.
- Strong pace of capital raising and client distributions reported for the latest year.
- The credit segment has grown quickly and offers varied solutions, from CLOs to aviation finance.
Weaknesses
- Revenue depends heavily on performance fees, which are volatile and can fall in difficult periods.
- Exits from investments have remained slow, delaying the realization of value for investors.
- The firm uses leverage, and refinancing could become more costly if markets tighten.
Opportunities
- A return of large deals and IPOs could open profitable exits from the portfolio.
- Demand for private credit and insurance solutions could expand the credit segment.
- Defense and infrastructure investment in Europe and Japan could create new opportunities.
Threats
- A recession or higher interest rates could reduce valuations and the ability to raise capital.
- Geopolitical tensions and tariffs could disrupt supply chains of portfolio companies.
- Regulatory changes and CFIUS restrictions could limit the pool of buyers for exits.
Risks
- Economic and market conditionshigh
Changes in interest rates, inflation and geopolitical tensions could reduce fund investment values and the ability to attract capital.
- Delayed exitshigh
If M&A activity slows, the firm could find it harder to realize portfolio value and performance fees.
- Leverage and refinancingmedium
Using debt exposes the firm to refinancing risk and higher borrowing costs if credit markets tighten.
- AI-driven market concentrationmedium
A correction in AI-related companies could affect portfolio values and comparable public valuations.
- Regulation and trade policylow
Changes in trade and tax policy could affect investments and exits in certain sectors or regions.
Investment thesis
What would need to be true (bull case)
- If deals and IPOs stay active, exits could bring higher performance fees and distributions to clients.
- Growth in the credit segment and diversification across three platforms could reduce reliance on any single activity.
- The second quarter of 2026 showed record fee related earnings, which could support profitability if the trend continues.
What would break the thesis
- If interest rates rise again, portfolio valuations could fall and new funds could be harder to raise.
- Slow exits from investments could delay performance revenue and put pressure on liquidity.
- Strong competition in private credit and private equity could compress margins and market share.
What to watch
- Evolution of AUM and new capital raised in the Global Credit segmentQ3 2026
- Pace of exits from investments and performance fees2027
- Level of the dividend and capital distributions to shareholdersQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Segments
Global Credit
The segment covers liquid credit, opportunistic credit, direct lending, asset-backed finance, aviation finance, infrastructure credit and insurance solutions. At June 30, 2026 it had 211.1 billion USD of AUM 2.
Carlyle AlpInvest
The segment offers private equity portfolios through fund of funds, secondary purchases, co-investments and primary funds. At June 30, 2026 it had 111.7 billion USD of AUM 2.
Market context
Trends
- Recovery in deal activitytailwind
Global M&A and IPO volumes rose in 2025, which could support exits and transaction fees if the pace holds 1.
- Inflation and interest ratesheadwind
Core inflation above 3% and the possibility of rate hikes could limit valuations and the cost of financing for funds 2.
- Demand for private creditmixed
Growth in global credit AUM and direct lending funds points to sustained demand, but could bring repayment risk if the economy cools 12.
- AI-driven market concentrationmixed
Concentration of equity markets in a few AI-related companies could change portfolio values and exit prospects 12.
Competitive position
Carlyle competes with other global private equity and private credit firms for institutional capital and for large transactions. Competition shows up in fundraising, deal access and the cost of capital 1.
As a company listed on NASDAQ, Carlyle is compared with other listed asset managers, and its stated advantage is a global platform diversified across three segments 3.
- BlackstoneBX
US alternative investment firm with comparable activity in private equity and credit.
- KKRKKR
Global private equity and credit firm competing for the same institutional investors.
- Apollo Global ManagementAPO
Strong competitor in private credit and insurance solutions, an area where Carlyle is active.
- Ares ManagementARES
Firm focused on private credit and direct lending funds, competing directly with Global Credit.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Apollo’s Simoes Moves to Carlyle for Credit-Origination RoleBloomberg Markets · 02 Nov 2026 · EN
- Carlyle and EBRD agree to sell Romanian Black Sea gas operations to Mazarinebne IntelliNews (EN) · 30 Oct 2026 · EN
- Americanii de la Carlyle, care extrag 12% din producţia de gaze a României, au vândut unui partener al Gazprom - Flux24.roSurge — Google News · 29 Oct 2026 · RO
- Surprize în energie. Gigantul american Carlyle a decis să vândă exploatarea de gaz din Marea Neagră unei - Ziarul FinanciarSurge — Google News · 29 Oct 2026 · RO
- Surprize în energie. Gigantul american Carlyle a decis să vândă exploatarea de gaz din Marea Neagră unei firme olandeze, Mazarine Energy, care este asociată cu Gazprom în producţia de gaze. Carlyle a investit 400 mil. dolari şi a obţinut profituri nete de 500 mil. dolari până acumZiarul Financiar · 29 Oct 2026 · RO
- Carlyle și BERD anunţă acordul pentru vânzarea Black Sea Oil & Gas către Mazarine EnergyCursDeGuvernare.ro · 29 Oct 2026 · RO
- Americanii de la Carlyle au vândut Black Sea Oil & Gas, care produce deja gaze pentru România. Cine va fi proprietarul unui zăcământ din Marea NeagrăLibertatea.ro · 29 Oct 2026 · RO
- Americanii pleacă din Marea Neagră. Carlyle vinde și ultimul perimetru de gaze din România - Q MagazineSurge — Google News · 29 Oct 2026 · RO
- Americanii pleacă de tot din Marea Neagră. După Exxon, gigantul Carlyle vinde și ultimul perimetru… - GândulSurge — Google News · 29 Oct 2026 · RO
- Carlyle vinde Black Sea Oil & Gas. Încă o retragere americană din Marea Neagră, după… - B1TVSurge — Google News · 29 Oct 2026 · RO
- Micuțul olandez de la Mazarine preia Black Sea Oil&Gas. O retragere suspectă a gigantului Carlyle și misterele unui exit strategic prematur al americanilorEconomedia · 29 Oct 2026 · RO
- Carlyle și BERD vând Black Sea Oil & Gas către Mazarine Energy - Evenimentul ZileiSurge — Google News · 29 Oct 2026 · RO
- Carlyle și BERD vând Black Sea Oil & Gas către Mazarine Energy - Evenimentul ZileiSurge — Google News · 29 Oct 2026 · RO
- Tranzacție majoră. Compania americană Carlyle vinde Black Sea Oil & Gas, cel mai mare producător de gaze offshore din Marea Neagră / Cine este cumpărătorulHotNews.ro · 29 Oct 2026 · RO
- Mazarine Energy preia BSOG Holding Activity, cel mai mare producător de gaze naturale offshore din România/ Carlyle şi BERD şi-au dat acordul pentru vânzare - News.roSurge — Google News · 29 Oct 2026 · RO
- Americanii de la Carlyle vând Black Sea Oil & Gas, cel mai mare producător offshore de gaze din România. Cine este cumpărătorul, controlat de un antreprenor olandezStartupCafe.ro · 29 Oct 2026 · RO
- TRANZACȚIE. Grupul american Carlyle vinde Black Sea Oil & Gas, compania care exploatează gazul românesc din Marea Neagră - newmoney.roSurge — Google News · 29 Oct 2026 · RO
- Carlyle și BERD au ajuns la un acord pentru vânzarea Black Sea Oil & Gas către Mazarine Energy - AgerpresAgerpres · 29 Oct 2026 · RO
- Carlyle şi BERD au ajuns la un acord pentru vânzarea Black Sea Oil & Gas către Mazarine Energy - Stirile ProTVSurge — Google News · 29 Oct 2026 · RO
- Tranzacție majoră pe piața energiei: Carlyle și BERD vând Black Sea Oil & Gas, unul dintre principalii producători de gaze naturale offshore din România. Cumpărătorul: Mazarine EnergyEconomedia · 29 Oct 2026 · RO
SEC filings
- Quarterly report10 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report05 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report01 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report08 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Proxy statement23 Apr 2026
- Annual report27 Feb 2026
- Current report26 Feb 2026Regulation FD disclosure · Financial statements and exhibits
- Current report06 Feb 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / The Carlyle Group Inc. · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / The Carlyle Group Inc. · 10 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / The Carlyle Group Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.