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WASHINGTON - On Wednesday, Global investment firm The Carlyle Group Inc. (NASDAQ:CG) reported second quarter earnings on Wednesday that topped revenue expectations but narrowly missed on earnings per share, as the company continued to grow its assets under management.
Carlyle reported adjusted earnings per share of $0.87 for the second quarter, slightly below the analyst consensus of $0.89. Revenue surged to $1.57 billion, significantly exceeding analyst expectations of $920.27 million.
Total (EPA:TTEF) assets under management reached $465 billion as of June 30, 2025, up 7% YoY, driven by a 20% increase in Carlyle AlpInvest assets. Fee-earning assets under management grew 6% YoY to $325 billion, with perpetual capital representing 31% of the total.
"Carlyle delivered an exceptionally strong second quarter, underscoring the momentum we’ve built across the firm as we execute our strategic plan," said Harvey M. Schwartz, Chief Executive Officer. "We’re delivering record financial results, investing with conviction, and returning significant capital to our investors at a pace and scale that sets Carlyle apart in today’s market."
The company reported distributable earnings of $431 million for the quarter, with fee-related earnings of $323 million, representing an 18% increase from $273 million in the same period last year. The fee-related earnings margin improved to 48% from 46% a year ago.
Fund management fees increased 16% in Q2 2025 compared to the same period in 2024, primarily driven by fee activation in certain Global Private Equity funds and fundraising in Carlyle AlpInvest and Global Private Equity.
The company declared a quarterly dividend of $0.35 per common share, payable on August 28, 2025, to shareholders of record as of August 18, 2025.
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