The Carlyle Group Inc. reported its unaudited financial results for the first quarter ended March 31, 2025, on May 8, 2025. The firm achieved record Fee Related Earnings (FRE) of $310.6 million and Distributable Earnings (DE) of $455.4 million. Total Assets Under Management (AUM) reached a record $452.6 billion as of March 31, 2025.
U.S. GAAP results for Q1 2025 included income before provision for income taxes of $171 million, with a margin of 17.6%. Net income attributable to The Carlyle Group Inc. common stockholders was $130 million, or $0.35 per diluted share. Total revenue for the quarter was $973.1 million, compared to $688.4 million in the prior year.
Fund management fees increased by 12% in Q1 2025 from the comparable period in 2024, driven by higher capital markets fees, fundraising in Carlyle AlpInvest products, and fee activation in Global Private Equity. The firm reported $84 billion in dry powder, positioning it to capitalize on investment opportunities. The Board of Directors declared a quarterly dividend of $0.35 per common share, payable on May 27, 2025.
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