Carlyle Group announced a write‑down of more than $100 million on a loan it had extended to robotics maker iRobot, which filed for Chapter 11 on December 14, 2025. The loss reflects the full impairment of the $190.7 million principal and interest that Carlyle had originally held in its credit portfolio.
The debt was sold to Santrum, a subsidiary of Shenzhen PICEA Robotics, iRobot’s primary contract manufacturer, shortly before the bankruptcy filing. The sale at a discount to the outstanding balance produced the loss Carlyle reports, underscoring the risk of lending to companies with fragile balance sheets.
Carlyle’s loss, while sizable in absolute terms, represents a small fraction of its $474 billion assets under management and its $312 million fee‑related earnings for Q3 2025. The company’s credit segment has been a growth engine, with private‑credit AUM up 30% year‑over‑year and distributable earnings rising 47% in Q3 2024, mitigating the impact of the iRobot write‑down on overall profitability.
Management noted that the loss is a one‑off event tied to a single borrower and that the credit portfolio remains diversified. CEO Harvey Schwartz emphasized that Carlyle’s focus on disciplined underwriting and risk monitoring continues to protect the firm’s long‑term fee generation, even as it navigates occasional distressed‑asset write‑downs.
The bankruptcy of iRobot, which had been a high‑profile consumer‑robotics brand, highlights the competitive pressures from Chinese rivals, tariff costs, and the collapse of a planned Amazon acquisition. The company’s cash position fell to $24.8 million in September, and its debt load grew to $190 million, setting the stage for the Chapter 11 filing and the subsequent loss for Carlyle.
While the market did not react strongly to Carlyle’s announcement, the event serves as a reminder of the credit risks inherent in the firm’s private‑credit strategy and the importance of maintaining a diversified portfolio to absorb isolated losses.
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