Accrued Performance Fees

The components of accrued performance fees are as follows:



	As of
	March 31, 2017		December 31, 2016
	(Dollars in millions)
Corporate Private Equity	$	1,830.8	$	1,375.4
Real Assets	528.0		483.4
Global Market Strategies	83.3		68.6
Investment Solutions	574.6		553.7
Total	$	3,016.7	$	2,481.1

Approximately 19% of accrued performance fees at March 31, 2017 are related to Carlyle Partners V, L.P., one of the Partnership's Corporate Private Equity funds.

Approximately 27% of accrued performance fees at December 31, 2016, are related to Carlyle Partners V, L.P. and Carlyle Asia Partners III, L.P., two of the Partnership’s Corporate Private Equity funds.

Accrued performance fees are shown gross of the Partnership’s accrued performance fee-related compensation (see Note 9), and accrued giveback obligations, which are separately presented in the condensed consolidated balance sheets. The components of the accrued giveback obligations are as follows:



	As of
	March 31, 2017			December 31, 2016
	(Dollars in millions)
Corporate Private Equity	$	(4.1	)	$	(3.9	)
Real Assets	(157.1		)	(156.9		)
Total	$	(161.2	)	$	(160.8	)

Performance Fees

The performance fees included in revenues are derived from the following segments:



	Three Months Ended March 31,
	2017		2016
	(Dollars in millions)
Corporate Private Equity	$	568.0	$	27.5
Real Assets	57.8		102.2
Global Market Strategies	20.0		1.6
Investment Solutions	35.8		13.9
Total	$	681.6	$	145.2

Approximately 79%, or $537.5 million, of performance fees for the three months ended March 31, 2017 are related to the following funds along with total revenue recognized (total revenue includes performance fees, fund management fees, and investment income):

•Carlyle Partners V, L.P. (Corporate Private Equity segment) - $184.6 million,

•Carlyle Partners VI, L.P. (Corporate Private Equity segment) - $253.6 million, and

•Carlyle Asia Partners IV, L.P. (Corporate Private Equity segment) - $165.1 million.

Approximately 92%, or $133.1 million, of performance fees for the three months ended March 31, 2016 are related to the following funds along with total revenue recognized (total revenue includes performance fees, fund management fees, and investment income):

•Carlyle Partners V, L.P. (Corporate Private Equity segment) - $73.5 million,

•Carlyle Asia Partners III, L.P. (Corporate Private Equity segment) - $(15.3) million,

•Carlyle Realty Partners V, L.P. (Real Assets segment) - $51.9 million,

•Carlyle Realty Partners VI, L.P. (Real Assets segment) - $19.6 million, and

•Carlyle Realty Partners VII, L.P. (Real Assets segment) - $36.3 million.