Carlyle Reports Record Full-Year 2025 Financial Results, Exceeding Targets with Strong AUM Growth
Summary
Carlyle Group Inc. reported record full-year 2025 financial results, including record Fee Related Earnings and strong AUM growth, while also declaring a quarterly dividend and detailing significant share repurchases.
Key Events
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Record Full-Year 2025 Performance
Reported full-year 2025 income before provision for income taxes of $1.2 billion and net income attributable to common stockholders of $808.7 million, or $2.18 diluted EPS. CEO stated 2025 was a record year, outperforming targets.
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Strong Fee Related Earnings (FRE)
Achieved record full-year 2025 Fee Related Earnings of $1.2 billion, representing a 12% increase from FY 2024, alongside Q4 2025 FRE of $290 million.
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Significant Assets Under Management (AUM) Growth
Total Assets Under Management reached $477 billion as of December 31, 2025, an 8% increase year-over-year, primarily driven by Carlyle AlpInvest (up 20%) and Global Credit (up 10%). Fee-earning AUM grew 11% to $337 billion.
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Consistent Dividend and Share Repurchases
Declared a quarterly dividend of $0.35 per common share. Repurchased or withheld 12.7 million shares totaling $687 million during full-year 2025, with $0.2 billion remaining under the repurchase authorization.
Analysis
Carlyle Group Inc. announced robust financial results for the fourth quarter and full-year 2025, highlighted by record Fee Related Earnings (FRE) and significant growth in Assets Under Management (AUM). CEO Harvey M. Schwartz noted that 2025 was a record year, significantly outperforming set targets, which indicates strong operational execution and investor confidence. The substantial increase in AUM and Fee-earning AUM demonstrates the firm's ability to attract and manage capital across its diverse segments, particularly in Carlyle AlpInvest and Global Credit. The consistent dividend declaration and a considerable share repurchase program underscore a commitment to shareholder returns and prudent capital management. These results suggest a positive outlook for the firm's continued growth and profitability in the private capital markets.
At the time of this filing, CG was trading at $56.75 on NASDAQ in the Finance sector, with a market capitalization of approximately $20B. The 52-week trading range was $33.02 to $69.85. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.