Carlyle Group issues $800 million in 5.050% senior notes due 2035

The Carlyle Group Inc. (NASDAQ:CG), a global investment firm with a market capitalization of $24.7 billion and annual revenue of $5.5 billion, announced the issuance of $800 million in aggregate principal amount of 5.050% senior notes due 2035, according to a statement filed with the Securities and Exchange Commission. According to InvestingPro analysis, the company is currently trading near its Fair Value, maintaining a GOOD overall financial health rating.

The notes were issued Friday and will mature on September 19, 2035, unless redeemed earlier. Interest on the notes accrues at an annual rate of 5.050% and is payable semiannually on March 19 and September 19 of each year, beginning March 19, 2026.

The notes are fully and unconditionally guaranteed on a joint and several basis by certain indirect subsidiaries of Carlyle Group , including Carlyle Holdings I L.P., Carlyle Holdings II L.L.C., CG Subsidiary Holdings L.L.C., and Carlyle Holdings III L.P. The guarantees are unsecured and unsubordinated obligations of the guarantors.

The indenture governing the notes includes covenants that limit the ability of Carlyle Group and the guarantors to merge, consolidate, or sell, transfer, or lease assets, and to create liens on assets, subject to certain exceptions. The indenture also specifies customary events of default. If an event of default occurs and is continuing, the trustee or holders of at least 25% in aggregate principal amount of the outstanding notes may declare the notes immediately due and payable. In the event of certain types of bankruptcy or insolvency, the principal and accrued interest on the notes automatically become due.

Prior to June 19, 2035, the notes may be redeemed at Carlyle Group’s option, in whole or in part, at a make-whole redemption price plus accrued and unpaid interest. On or after June 19, 2035, the notes may be redeemed at par plus accrued and unpaid interest.

The issuance was made pursuant to a shelf registration statement previously filed with the SEC. The underwriting agreement for the offering was entered into on September 16, 2025, with Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC as representatives of the underwriters.

This information is based on a press release statement filed with the SEC.

In other recent news, Carlyle Group has been active with several noteworthy developments. The company has priced an $800 million offering of senior notes due in 2035 at a 5.050% interest rate. This financial move is supported by guarantees from Carlyle’s indirect subsidiaries. Additionally, Carlyle has agreed to acquire the cloud-based software provider intelliflo from Invesco for up to $200 million, which includes a $135 million payment at closing expected in the fourth quarter of 2025, with potential additional earn-outs of up to $65 million.

In terms of analyst ratings, JMP Securities has reiterated its Market Outperform rating on Carlyle, setting a price target of $75.00, following reports of acquisition talks with Macquarie earlier this year. TD Cowen has also maintained its Buy rating and $80.00 price target, citing Carlyle’s recent success in raising $20 billion for its Secondaries platform. This effectively doubles the amount raised for Fund VII, reinforcing Carlyle’s position as a top alternative investment pick. These developments indicate significant financial activities and strategic moves by Carlyle, reflecting its ongoing efforts to expand its investment portfolio and strengthen its market position.

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