Aug. 6 at 9:14 PM
📢
$CG Q2 Earnings Recap
The Carlyle Group delivered a strong beat across the board, setting records in Fee-Related Earnings and Assets Under Management. Momentum in Real Estate, Global Credit, and AlpInvest drove inflows and profitability. Management raised full-year guidance for FRE and inflows as confidence grows heading into H2.
📊 Key Metrics
EPS (Non-GAAP):
$0.91 vs.
$0.89 est 🟢
Revenue:
$1.57B vs.
$902M est 🟢
FRE:
$323M (record) 🔼
FRE Margin: 48% 💪
AUM:
$465B (+7% Y/Y) 💼
Fee-Earning AUM:
$325B (+6% Y/Y)
Q2 Inflows:
$13.4B 🌊
LTM Realized Proceeds:
$33B (+46% Y/Y)
Stock Buybacks:
$104M 💵
📆 Updated FY25 Guidance
FRE Growth: Raised from 6% ➝ 10% 📈
FY Inflows: Raised to
$50B from
$40B
Operating Margin: ~48% stable
🗣️ Management Tone:
CEO and CFO emphasized strong execution, strategic expansion, and confidence in global fundraising. FRE strength was led by Global Credit and AlpInvest, now making up over half of FRE.