Carlyle has attracted $13.4bn in fresh commitments in the second quarter of 2025, with strong performance in its private credit and secondaries platforms helping the firm surpass Wall Street expectations.

The New York- and Washington-based group grew its assets under management to $465bn. While the inflow pace was slightly lower than the previous quarter, it comfortably beat analyst forecasts of $10.5bn, according to Visible Alpha.

Fee-related earnings rose 18% year-on-year to $323m, supported by robust growth in credit and secondary strategies. AlpInvest, Carlyle’s secondaries unit, saw a more than 50% increase in revenues over the same period.

“We’re delivering record financial results, investing with conviction, and returning significant capital to our investors at a pace and scale that sets Carlyle apart in today’s market,” said CEO Harvey Schwartz, who took the helm in 2023 following a leadership reshuffle.

Carlyle’s global private equity unit posted a slight dip of less than 1% in fee income but contributed $5.1bn in exit proceeds during the quarter, bolstering distributable earnings, up more than 16% to $232m. Notable exits included StandardAero and Forgital, contributing to $21bn in realisations across private equity, real estate, and infrastructure over the past year.

Carlyle’s share performance, while still trailing rivals like Blackstone and Apollo over a five-year horizon, has rebounded significantly over the past 12 months. The stock has returned more than 50% in that time, outpacing the S&P 500 and surpassing peers such as KKR.

According to FactSet data, over half of analysts now rate Carlyle a ‘buy’, the highest level since late 2023, as optimism around the firm’s recovery continues to build.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.