$CG · Carlyle Group Inc.
Carlyle Group filed its 10-Q for the quarter ended September 30, 2026. Total revenues were $334.1M, up 0.4% from $332.7M a year earlier. Net income attributable to The Carlyle Group Inc. was a loss of $7.7M versus a $0.9M profit in Q3 2025, driven by negative performance allocations of $626.6M (vs -$606.7M a year ago). Nine-month net income attributable to common shareholders fell to -$2.8M from $450.6M, with performance allocations swinging to -$1,263.0M from +$255.0M.
- Q3 GAAP EPS was $(0.02), versus $0.00 a year earlier.
- Performance allocations were -$626.6M in Q3, versus -$606.7M a year ago.
- Nine-month performance allocations swung to -$1,263.0M from +$255.0M.
- Global Private Equity distributable earnings rose 62% to $237.2M on realized performance revenues of $273.0M.
- Global Credit distributable earnings rose 1% to $128.1M; AlpInvest fell 29% to $67.2M.
Extended-hours last trade $40.40, up +1.76% vs regular close, despite the GAAP loss — investors appear focused on segment distributable earnings strength.
Carlyle's swing to a GAAP loss on sharply negative performance allocations contrasts with strong realized performance revenue, a key divergence for investors.
Carlyle's negative performance allocations contrast with the realized performance revenue strength in Global Private Equity, reflecting mark-to-market volatility across the alternative asset manager peer group.
Negative performance allocations of -$626.6M in Q3 and -$1,263.0M year-to-date signal mark-to-market pressure on fund valuations that could persist.