Global investment firm The Carlyle Group Inc. has released its unaudited financial results for the third quarter of 2024, ending September 30. According to the U.S. GAAP results, Carlyle reported an income before provision for income taxes of $789 million, with a margin on income before provision for income taxes of 29.9%. The accrued performance allocations, net of accrued giveback obligations, amounted to $7.2 billion as of September 30, marking a 27% increase from June 30.
Harvey M. Schwartz, Chief Executive Officer of Carlyle, commented on the firm's performance: “Carlyle’s record third quarter results reflect the impact of strategic actions we have taken over the past eighteen months. These actions, combined with a pick-up in investment activity across our platform, helped generate one of the best quarters of performance in the firm’s history, including record quarterly Fee Related Earnings and FRE margin, and a nearly 30% quarterly increase in our net accrued performance revenues. With this momentum, we are well-positioned to capture new opportunities in an evolving market and continue delivering strong returns and long-term growth for our clients and shareholders.”
In addition to reporting financial results, Carlyle's Board of Directors declared a quarterly dividend of $0.35 per common share. This dividend will be distributed to holders of record at the close of business on November 18, with payment scheduled for November 25.
The company has scheduled a conference call at 8:30 a.m. EST on Thursday, November 7, to discuss these financial results further. The call will be accessible via public webcast from their website's Events & Presentations section.
Carlyle is known for its expertise in deploying private capital across three segments: Global Private Equity, Global Credit, and Global Investment Solutions. As of September 30, it managed assets totaling $447 billion and employs over 2,300 people worldwide.
