Carlyle Group Inc.: Q3 FY2025 earnings call

What management said about Q3 FY2025, from the documents filed with the SEC on 31 October 2025: press release. Guidance figures: 1 kept. The quarter’s numbers.

Key takeaways

Pre-tax income of $86 million: The company reported income before provision for income taxes of $86 million for the third quarter 2025 under U.S. GAAP. Source
Organic inflows of $17 billion: Management said the firm generated $17 billion of organic quarterly inflows in the quarter. Source
Global Wealth raised significant capital: The firm raised significant capital across its Global Wealth platform; the release gives no dollar figure for it. Source
AlpInvest and insurance areas scaling: Management named Carlyle AlpInvest and Insurance Solutions as strategic areas it continued to scale. Source
Assets under management at $474 billion: Assets under management were $474 billion at September 30, 2025. Source
Updated 2025 targets to be exceeded: Management said the firm is positioned to exceed its updated 2025 financial targets; the release gives no target figures. Source

“We generated $17 billion of organic quarterly inflows, continued to scale strategic areas like Carlyle AlpInvest and Insurance Solutions, and raised significant capital across our Global Wealth platform.”
Carlyle Chief Executive Officer Harvey M. Schwartz

Guidance

Area	Period	Figure	Against last quarter
Dividend Source	Quarterly dividend, payable November 19, 2025	$0.35 per common share	Kept

Results and profitability

Pre-tax income of $86 million: The company reported income before provision for income taxes of $86 million for the third quarter 2025 under U.S. GAAP. Source
Pre-tax margin of 25.8%: The margin on income before provision for income taxes was 25.8% for the quarter. Source
Second-quarter pre-tax income higher: The prior release reported $441 million of pre-tax income and a 28.0% margin for the second quarter 2025.

Inflows and fundraising

Organic inflows of $17 billion: Management said the firm generated $17 billion of organic quarterly inflows in the quarter. Source
Global Wealth raised significant capital: The firm raised significant capital across its Global Wealth platform; the release gives no dollar figure for it. Source
AlpInvest and insurance areas scaling: Management named Carlyle AlpInvest and Insurance Solutions as strategic areas it continued to scale. Source

“positions Carlyle exceptionally well to exceed our updated 2025 financial targets.”
Carlyle Chief Executive Officer Harvey M. Schwartz

Segments and assets under management

Three business segments: The firm deploys private capital across Global Private Equity, Global Credit and Carlyle AlpInvest. Source
Assets under management at $474 billion: Assets under management were $474 billion at September 30, 2025. Source
Assets up from June: Assets under management were $465 billion at June 30, 2025, the figure in the second-quarter release.

Headcount and footprint

Headcount above 2,400: The firm reports more than 2,400 employees. Source
Headcount up from prior release: The second-quarter release reported more than 2,300 employees, so the reported figure rose in the third quarter.
27 offices on four continents: The firm has 27 offices across four continents, the same office count as in the second-quarter release. Source

Dividend declaration and dates

Dividend declared by the Board: The Board declared the quarterly dividend, with record and payment dates set out below. Source
Record date November 10: Holders of record at the close of business on November 10, 2025 are eligible for the dividend. Source
Payment date November 19: The dividend is payable on November 19, 2025. Source

Targets and investor materials

Updated 2025 targets to be exceeded: Management said the firm is positioned to exceed its updated 2025 financial targets; the release gives no target figures. Source
Growth engines carry into 2026: Management linked the growth engines to momentum through year end and into 2026. Source
Full presentation on website: The detailed presentation of the third quarter 2025 results is available on the investor relations site. Source

Figures management reported

Figure	Reported
Organic quarterly inflows Source	$17 billion
Assets under management Source	$474 billion

Earlier plans management reported on

Not stated: Management refers to continued execution of its strategic growth plan; the release gives no milestone status. Source
Not stated: Management says the firm is positioned to exceed its updated 2025 financial targets; progress against them is not reported. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

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Carlyle Reports Third Quarter 2025 Financial Results

Washington,

D.C. and New York, October 31, 2025 - The Carlyle Group Inc. (NASDAQ: CG) today reported its unaudited results for the third quarter ended September 30, 2025. The full detailed presentation of Carlyle’s third quarter 2025 results can be viewed at ir.carlyle.com.

U.S. GAAP results for Q3 2025 included income before provision for income taxes of $86 million and a margin on income before provision for income taxes of 25.8%.

Carlyle Chief Executive Officer Harvey M. Schwartz said, “Our strong third quarter results demonstrate continued execution of our strategic growth plan. We generated $17 billion of organic quarterly inflows, continued to scale strategic areas like Carlyle AlpInvest and Insurance Solutions, and raised significant capital across our Global

Wealth platform. The combination of these growth engines gives us strong momentum through year end and into

2026, and positions Carlyle exceptionally well to exceed our updated 2025 financial targets.”

Dividend

The Board of Directors has declared a quarterly dividend of $0.35 per common share to holders of record at the close of business on November 10, 2025, payable on November 19, 2025.

Conference Call

Carlyle will host a conference call at 8:30 a.m. EDT on Friday, October 31, 2025, to announce its third quarter 2025 financial results. The conference call will be available via public webcast from the Events & Presentations section of ir.carlyle.com and a replay will also be available on our website soon after the call’s completion.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $474 billion of assets under management as of September 30, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,400 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on

X @OneCarlyle and LinkedIn at The Carlyle Group.

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Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to our expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions and statements that are not historical facts, including our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, contingencies, and our dividend policy. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,”

“predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks, uncertainties, and assumptions. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements including, but not limited to, those described in this press release and under the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the

U.S. Securities and Exchange Commission (“SEC”) on February 27, 2025, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our other periodic filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by applicable law.

This press release does not constitute an offer for any Carlyle fund.

Contacts
Public Market Investor Relations · Daniel Harris · Phone: +1 (212) 813-4527 · daniel.harris@carlyle.com
Media · Brittany Bensaull · Phone: +1 (212) 813-4839 · brittany.bensaull@carlyle.com
Kristen Ashton · Phone: +1 (212) 813-4763 · kristen.ashton@carlyle.com