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Investments (Tables) | 3 Months Ended
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Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of investments | Investments consist of the following:
| As of
| March 31, 2017 |  | December 31, 2016
| (Dollars in millions)
Equity method investments, excluding accrued performance fees | $ | 1,009.6 |  |  | $ | 950.9 |
Investments in CLOs and other | 159.4 |  |  | 156.1 |
Total investments | $ | 1,169.0 |  |  | $ | 1,107.0 |
Schedule of net investment earnings (loss) | The net investment earnings (loss) recognized in the Partnership’s condensed consolidated statements of operations for the three months ended March 31, 2017 and 2016 were as follows:
| Three Months Ended March 31,
| 2017 |  | 2016
| (Dollars in millions)
Management fees | $ | 17.6 |  |  | $ | 20.7 |
Performance fees | 35.6 |  |  | — |
Investment income (loss) | 4.0 |  |  | (1.5 | )
Expenses | (26.0 | ) |  | (3.6 | )
Amortization of basis differences | (2.1 | ) |  | (13.8 | )
Net investment income | $ | 29.1 |  |  | $ | 1.8 |
Schedule of equity method investments | The Partnership’s equity method investments include its fund investments in Corporate Private Equity, Real Assets, Global Market Strategies, and Investment Solutions, typically as general partner interests, and its strategic investments in NGP (included within Real Assets), which are not consolidated. Investments are related to the following segments:
| As of
| March 31, 2017 |  | December 31, 2016
| (Dollars in millions)
Corporate Private Equity | $ | 305.8 |  |  | $ | 282.4 |
Real Assets | 659.7 |  |  | 622.8 |
Global Market Strategies | 16.0 |  |  | 20.1 |
Investment Solutions | 28.1 |  |  | 25.6 |
Total | $ | 1,009.6 |  |  | $ | 950.9 |
Components of investment income (loss) | The components of investment income (loss) are as follows:
| Three Months Ended March 31,
| 2017 |  | 2016
| (Dollars in millions)
Income (loss) from equity investments | $ | 45.4 |  |  | $ | (6.4 | )
Income (loss) from investments in CLOs and other investments | 0.9 |  |  | (3.5 | )
Other investment income | — |  |  | 0.3 |
Total | $ | 46.3 |  |  | $ | (9.6 | )
Schedule of income (loss) from equity-method investments | Carlyle’s income (loss) from its equity method investments is included in investment income (loss) in the condensed consolidated statements of operations and consists of:
| Three Months Ended March 31,
| 2017 |  | 2016
| (Dollars in millions)
Corporate Private Equity | $ | 7.6 |  |  | $ | (2.3 | )
Real Assets | 35.0 |  |  | 1.8 |
Global Market Strategies | 1.3 |  |  | (4.9 | )
Investment Solutions | 1.5 |  |  | (1.0 | )
Total | $ | 45.4 |  |  | $ | (6.4 | )
Components of interest and other income of consolidated funds | The components of interest and other income of Consolidated Funds are as follows:
| Three Months Ended March 31,
| 2017 |  | 2016
| (Dollars in millions)
Interest income from investments | $ | 40.5 |  |  | $ | 27.7 |
Other income | 2.4 |  |  | 1.2 |
Total | $ | 42.9 |  |  | $ | 28.9 |
Components of net investment gains (losses) of consolidated funds | The components of net investment gains (losses) of Consolidated Funds are as follows:
| Three Months Ended March 31,
| 2017 |  | 2016
| (Dollars in millions)
Gains (losses) from investments of Consolidated Funds | $ | 35.2 |  |  | $ | (67.8 | )
Gains (losses) from liabilities of CLOs | (18.1 | ) |  | 59.4 |
Total | $ | 17.1 |  |  | $ | (8.4 | )
Schedule of realized and unrealized gains (losses) earned from investments of consolidated funds | The following table presents realized and unrealized gains (losses) earned from investments of the Consolidated Funds:
| Three Months Ended March 31,
| 2017 |  | 2016
| (Dollars in millions)
Realized losses | $ | (2.1 | ) |  | $ | (6.2 | )
Net change in unrealized gains (losses) | 37.3 |  |  | (61.6 | )
Total | $ | 35.2 |  |  | $ | (67.8 | )

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