The Carlyle Group

Today, we reported our Q2 2025 financial results. CEO Harvey Schwartz said: “Carlyle delivered an exceptionally strong second quarter, underscoring the momentum we’ve built across the firm as we execute our strategic plan. We’re delivering record financial results, investing with conviction, and returning significant capital to our investors at a pace and scale that sets Carlyle apart in today’s market. As market activity accelerates, we’re well-positioned to continue driving growth and deliver long-term value for our shareholders.” View the earnings presentation and important information regarding forward-looking statements and a reconciliation of non-GAAP financial measures to the corresponding GAAP measures here: http://spr.ly/6040fgNBI Join our investor conference call at 8:30am ET here: http://spr.ly/6041fgNBL

I wanted to share a few quick reflections on Q2 earnings, along with a short video that highlights some successes from the quarter. We delivered strong performance that reflects real progress against our strategic priorities and continued momentum across our global platform. Greater policy clarity is building confidence across markets as the demand for private capital increases and M&A activity accelerates across geographies. All of this is reflected in our business performance. Capital return has been a central theme this year, particularly in private equity. Over the past 12 months, we returned nearly $15 billion to our investors, roughly 17% of our portfolio, and approximately 3x the industry average. And we’ve kept that pace post-quarter, with several significant realizations already announced. I’m proud of what the team’s delivered, and I want to thank them for their hard work and the outperformance this quarter. Our focus remains where it’s always been, driving consistent performance and delivering long-term value for our investors. Let’s keep it going. +++ View the earnings presentation and important information regarding forward-looking statements and a reconciliation of non-GAAP financial measures to the corresponding GAAP measures here: http://spr.ly/6045f9m1R

Today we announced that Carlyle has agreed to invest in Ingentis. Based in Nuremberg, Germany, Ingentis provides software that enables organisations to analyse and plan organizational structures. The company’s products are used by 2,000 customers and hundreds of blue-chip enterprises worldwide, including many Fortune 500 and DAX-listed companies and is active in more than 50 countries. Thorsten Dippel, Managing Director on the CETP investment advisory team, said: “We are pleased to partner with Ingentis as it continues to scale in the fast-growing market for organizational design and analytics software solutions. This transaction plays to CETP’s strengths in partnering with fast growing European software leaders and supporting their international expansion.” Read more: http://spr.ly/6045f59bW

We’re pleased to announce the sale of CommScope’s Connectivity and Cable Solutions (CCS) segment to Amphenol Corporation. As a result of the $10.5 billion CCS transaction closing, Carlyle will successfully fully exit its investment in CommScope, a global leader in network connectivity. As a partner over several years, we are proud to have supported the company’s transformation. The deal unlocks equity value, returns cash to shareholders, and strengthens the position of the remaining businesses. Congratulations to CHARLES TREADWAY, Kyle Lozentzen and the entire CommScope organization on this important milestone. Read more: http://spr.ly/6048fdfIQ

Today, Carlyle announced the final close of its tenth and largest U.S. opportunistic real estate fund, Carlyle Realty Partners X, with $9 billion of total commitments. The fund follows Carlyle Realty Partners IX, for which the firm raised $8 billion in 2021. This result reflects continued support for Carlyle’s longstanding U.S. #RealEstate strategy and experienced investment team. CRP X continues to focus on sectors underpinned by secular demographic and technological tailwinds and compelling supply-demand dynamics, including residential, self-storage, and industrial. “This capital raise reflects both the strength of our team and the proven performance of our strategy, particularly through complex market cycles. Our ability to avoid structurally challenged areas and invest with discipline in a turbulent environment reinforces the value of our distinctive approach to fund construction and has led to meaningful recommitment from existing investors as well as strong support from new relationships.” - Robert G. Stuckey, Head of Carlyle U.S. Real Estate Read more: http://spr.ly/6042fdDOA

Highly recommended weekend watch!!!!! 🎬 Now live: My conversation with Jason Thomas, our Head of Global Research & Investment Strategy, on “The Rise of Private Markets.”    We cover why more investors are turning to private assets, not just for the possibility of higher returns, but as a potential source of portfolio resilience in times of market stress.    Jason breaks it down in clear, actionable terms. If you’re thinking about how to evolve your strategy in this shifting environment, this one’s worth your time.    ▶️ Watch the full video below and read his paper here: https://lnkd.in/ehYQkqtY      #CarlyleGlobalWealth #PortfolioStrategy #PrivateMarkets

Our Head of Global Wealth, Shane Clifford, sat down with Jason Thomas, our Head of Global Research & Investment Strategy, to talk about how private markets could be reshaping portfolio construction. 📈 What should investors consider as traditional bond hedges lose effectiveness? Get a sneak peek from their conversation in the clip below. 🎥 Full video coming soon. Want more now? Read Jason’s paper, “The Rise of Private Markets.” here: http://spr.ly/6041fV0Wc

We’re proud to announce the sale of NEOGOV to EQT Group and CPP Investments | Investissements RPC. NEOGOV provides purpose-built human capital management and public safety software to nearly 10,000 public sector organizations across North America. Its cloud-native platform supports the full employee lifecycle, while helping agencies remain compliant with local policies and regulations. Steve Bailey, Partner at Carlyle, shared: "It’s been a privilege to partner with NEOGOV and Warburg Pincus during a period of strong growth and innovation. Shane Evangelist and the team have built a mission-critical platform that empowers public sector agencies to better serve their communities. We’re confident NEOGOV is well positioned for continued success with EQT and CPP Investments." Congratulations to the entire NEOGOV team on this next chapter. Read more: http://spr.ly/6044fTl1g

Carlyle today announced key senior leadership appointments, effective January 1, 2026. These appointments solidify the firm’s ability to operate at scale, with the focus, alignment, and agility required to lead in today’s competitive environment. ➡️ John Redett, Mark Jenkins, and Jeff Nedelman to become Co-Presidents ➡️ Justin Plouffe to succeed John Redett as Chief Financial Officer ➡️ Michael Wand to become Head of EMEA Investments ➡️ Admiral James Stavridis to become Vice Chairman Read the full announcement: http://spr.ly/6044fPoon

This week I joined Bloomberg News to discuss how the promise of #AI is no longer just about the future. The related capital spending is already GDP-significant and is beginning to reshape liquidity and capital allocation across the economy.   As I noted during the segment, companies have exercised their option to change strategy. What began as a stock market story has become a broader economic phenomenon, with implications for bond yields, free cash flow, and capacity utilization.   Back in January, we asked whether Big Tech’s data center investments would pay off. At mid-year, that question remains open. But one thing is clear. These investments are already changing the financial landscape.    Watch my full conversation here: https://lnkd.in/eJc-kRPB and for more on how the investment environment is evolving, read my mid-year update via "The Carlyle Compass": https://lnkd.in/ePchVg6f