Carlyle AUM up to $474bn on private markets gains

Carlyle’s assets under management (AUM) rose to $474bn (£361.2bn) in the third quarter of 2025, driven by strong performance in its private markets arm and global alternative credit strategy.

According to the US investment firm’s latest results, total AUM increased two per cent on the previous quarter, reflecting a six per cent rise in Carlyle AlpInvest’s AUM to $102bn and a three per cent increase in global credit AUM to $208bn.

Year-on-year, Carlyle AlpInvest delivered the strongest growth, up 22 per cent, followed by global credit at seven per cent and global private equity at three per cent.

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For the global credit strategy, inflows totalled $9.9bn, with market activity more than offsetting outflows. Carlyle said inflows were led by its insurance solutions, US and European structured credit, and asset-backed finance strategies. Deployment reached $7.4bn in the quarter and $31.5bn over the last twelve months (LTM), driven by the firm’s two US and two European collateralised loan obligations.

At Carlyle AlpInvest, inflows of $6.3bn and two per cent segment appreciation exceeded outflows. Deployment stood at $2.8bn for the quarter and $12.7bn for the LTM.

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Across the business, total inflows reached $16.9bn in the third quarter and $58.7bn for the LTM. Distributable earnings were $368m for the quarter on a pre-tax basis.

Net accrued performance revenues were $2.6bn, down eight per cent from the prior quarter and four per cent from the fourth quarter of 2024.

“Our strong third-quarter results demonstrate continued execution of our strategic growth plan,” said Harvey Schwartz, Carlyle’s chief executive. “We generated $17bn of organic quarterly inflows, continued to scale strategic areas like Carlyle AlpInvest and Insurance Solutions, and raised significant capital across our global wealth platform.”

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