XML 47 R28.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Investments (Tables)

3 Months Ended

Mar. 31, 2024

Investments [Abstract]

Schedule of Investments

Investments consist of the following: 

	As of
	March 31, 2024		December 31, 2023
	(Dollars in millions)
Accrued performance allocations	$5,567.6		$6,169.9
Principal equity method investments, excluding performance allocations	3,145.4		3,024.1
Principal investments in CLOs	520.8		532.6
Other investments	239.4		228.7
Total	$9,473.2		$9,955.3

Schedule of Components of Accrued Performance Fees

The components of accrued performance allocations are as follows:

	As of
	March 31, 2024		December 31, 2023
	(Dollars in millions)
Global Private Equity	$3,547.7		$4,310.7
Global Credit	381.6		323.4
Global Investment Solutions	1,638.3		1,535.8
Total	$5,567.6		$6,169.9

Schedule of Components of Accrued Giveback Obligations

The components of the accrued giveback obligations are as

follows:

	As of
	March 31, 2024		December 31, 2023
	(Dollars in millions)
Global Private Equity	$(18.4)		$(18.4)
Global Credit	(25.6)		(25.6)
Total	$(44.0)		$(44.0)

Schedule of Equity Method Investments

Principal investments are related to the following segments:

	As of
	March 31, 2024		December 31, 2023
	(Dollars in millions)
Global Private Equity(1)	$1,781.1		$1,798.3
Global Credit(2)	1,114.8		987.4
Global Investment Solutions	249.5		238.4
Total	$3,145.4		$3,024.1

(1)The balance includes $918.0 million and $916.2 million as of March 31, 2024 and December 31, 2023, respectively, related to the

Company’s equity method investments in NGP.

(2)As of March 31, 2024 and December 31, 2023, the balance includes $709.3 million and $595.4 million, respectively, related to the

Company’s investment in Fortitude.

The Company’s investments in NGP as of March 31, 2024 and December 31, 2023 are as follows:

	As of
	March 31, 2024		December 31, 2023
	(Dollars in millions)
Investment in NGP Management	$369.3		$370.5
Investments in NGP general partners - accrued performance allocations	488.4		484.4
Principal investments in NGP funds	60.3		61.3
Total investments in NGP	$918.0		$916.2

Carlyle’s income (loss) from its principal equity method investments consists of:

	Three Months Ended March 31,
	2024		2023
(Dollars in millions)
Global Private Equity	$28.8		$17.8
Global Credit	11.4		(18.9)
Global Investment Solutions	6.9		9.4
Total	$47.1		$8.3

Schedule of Net Investment Income (Loss)

The net investment income (loss) recognized in the Company’s condensed

consolidated statements of operations for the three months ended March 31, 2024 and 2023 were as follows:

	Three Months Ended March 31,
	2024		2023
(Dollars in millions)
Management fee related revenues from NGP Management	$17.3		$18.1
Expenses related to the investment in NGP Management	(3.2)		(3.4)
Net investment income from NGP Management	$14.1		$14.7

Schedule of Components of Investment Income (Loss)

The components of investment income (loss) are as follows:

	Three Months Ended March 31,
	2024		2023
(Dollars in millions)
Performance allocations
Realized	$389.7		$179.6
Unrealized	(546.7)		(18.8)
	(157.0)		160.8
Principal investment income (loss) from equity method investments (excluding performance allocations)
Realized	53.7		38.5
Unrealized	(6.6)		(30.2)
	47.1		8.3
Principal investment income (loss) from investments in CLOs and other investments
Realized	2.2		(1.1)
Unrealized(1)	23.8		4.5
	26.0		3.4
Total	$(83.9)		$172.5

(1)The three months ended March 31, 2023 included investment loss of $13.3 million associated with the remeasurement of a

corporate investment, resulting from observable price changes pursuant to ASC 321, Investments - Equity Securities.

Schedule of Performance Allocations Included in Revenues

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

	Three Months Ended March 31,
	2024		2023
(Dollars in millions)
Global Private Equity	$(363.5)		$(3.8)
Global Credit	65.1		33.4
Global Investment Solutions	141.4		131.2
Total	$(157.0)		$160.8

The following table summarizes the funds that are the primary drivers of performance allocations for the periods

presented and the total revenue recognized, including performance allocations as well as fund management fees and principal

investment income:

Three Months Ended March 31, 2024
(Dollars in millions)
Global Private Equity	Carlyle Europe Partners V, L.P.	$(171.5)
Global Private Equity	Carlyle Partners VI, L.P.	(86.7)
Global Private Equity	Carlyle Partners VII, L.P.	(73.1)

Three Months Ended March 31, 2023
(Dollars in millions)
Global Private Equity	Carlyle Partners VI, L.P.	$(74.4)

Schedule of 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,
	2024		2023
(Dollars in millions)
Interest income from investments	$142.6		$109.8
Other income	22.3		12.1
Total	$164.9		$121.9

Schedule of Components of Net Investment Income (losses) of Consolidated Funds

The components of Net

investment income (loss) of Consolidated Funds are as follows: 

	Three Months Ended March 31,
	2024		2023
(Dollars in millions)
Gains from investments of Consolidated Funds	$82.7		$145.0
Losses from liabilities of CLOs	(89.7)		(141.4)
Total	$(7.0)		$3.6

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,
	2024		2023
(Dollars in millions)
Realized losses	$(21.2)		$(17.4)
Net change in unrealized gains	103.9		162.4
Total	$82.7		$145.0

X

- Definition

Tabular disclosure of the components of accrued giveback obligations by reportable segment.

+ References

No definition available.

+ Details

Name:	cg_AccruedGivebackObligationsTableTextBlock
Namespace Prefix:	cg_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of accrued performance fees by reportable segment.

+ References

No definition available.

+ Details

Name:	cg_ComponentsOfAccruedPerformanceFeesTableTextBlock
Namespace Prefix:	cg_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of net investment gains losses of consolidated funds.

+ References

No definition available.

+ Details

Name:	cg_NetInvestmentGainsLossesTableTextBlock
Namespace Prefix:	cg_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of performance fee revenues by reportable segment.

+ References

No definition available.

+ Details

Name:	cg_PerformanceFeesTableTextBlock
Namespace Prefix:	cg_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of realized and unrealized gains earned from investments of consolidated funds.

+ References

No definition available.

+ Details

Name:	cg_RealizedAndUnrealizedGainsEarnedFromInvestmentsTableTextBlock
Namespace Prefix:	cg_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

+ Details

Name:	us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of interest income and income classified as other.

+ References

No definition available.

+ Details

Name:	us-gaap_InterestAndOtherIncomeTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.8)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.9)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.7(a),(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

+ Details

Name:	us-gaap_InvestmentIncomeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of investment.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//320/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Topic 321
-Publisher FASB
-URI https://asc.fasb.org//321/tableOfContent

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Topic 325
-Publisher FASB
-URI https://asc.fasb.org//325/tableOfContent

+ Details

Name:	us-gaap_InvestmentTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of realized gains and losses on investments reported in the statement of income.

+ References

No definition available.

+ Details

Name:	us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration