Carlyle Group (NASDAQ:CG) reported that its total revenue dropped from $973 million in the first quarter of 2025 to $254 million in the first quarter of 2026, driven by a wider loss in investment income.
The firm also reported a net income loss of $132 million, or 37 cents a share, in Q1, compared to $130 million profit or 35 cents a share last year.
Despite the loss, management described Q1 as a “strong quarter,” highlighting record U.S. buyout realizations, high inflows, and fee-related earnings of $300 million.
“Momentum across the platform continues to accelerate and performance remains strong, reinforcing our confidence in our strategic plan. These results came against a complex global backdrop,” said CEO Harvey Schwartz.
“Geopolitical uncertainty and splintering are front of mind for investors and are influencing capital allocation and investment decisions. Of course, this is not new. Over the past five years, we’ve navigated COVID, the ongoing Ukraine-Russia war, and now the war in the Middle East. Everywhere I go in the world, the message is the same. The demand for private capital continues to grow. In today’s environment, diversification is a distinct advantage,” Schwartz said during the conference call with analysts.
Carlyle’s total assets under management (AUM) hit $475 billion, as of March 31, up 5% year-over-year. AUM was flat prior to the quarter …
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