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By Isla Binnie Asset manager Carlyle Group CG on Friday reported a rise in fee-related earnings and inflows of $17 billion for the third quarter, and said it expected to beat its financial targets for the full year. Fee-related earnings, which are generally stable during market volatility, climbed to $312 million, just above analysts' average estimate of $311 million, according to data compiled by LSEG. Inflows were mainly directed towards Carlyle AlpInvest, a unit that buys and sells second-hand stakes in private equity funds and portfolios, and its global credit business. Total assets under management grew 6% to a record $474 billion from a year earlier. Revenue from selling or refinancing assets came in lower than that recorded during the same period last year, which weighed on the company's distributable earnings, or profit that can be returned to shareholders. That metric hit $368 million, or $0.96 per share, undershooting an average analyst forecast of $1.01. Chief Executive Harvey Schwarz highlighted growth in its insurance business, its AlpInvest unit, as well as in higher inflows from wealthy individuals. "The combination of these growth engines gives us strong momentum through year-end and into 2026," and positions Carlyle to exceed its 2025 financial targets, Schwarz said in a statement. The company in August forecast 10% growth in fee-related earnings and inflows of $50 billion for the full year.
