Carlyle Group's Strong Q4 2024 Performance: A Deep Dive

Carlyle Group Inc. (NASDAQ: CG) reported its unaudited results for the fourth quarter and full-year ended December 31, 2024, showcasing a strong performance driven by robust inflows and record Fee Related Earnings (FRE) and FRE margin. The global investment firm's total assets under management (AUM) stood at $441 billion, up 4% from the previous year, primarily due to an 11% rise in Global Investment Solutions attributable to inflows in AlpInvest Secondaries and Portfolio Finance and CAPM funds (Carlyle Group, 2025).

For the fourth quarter and full-year ended December 31, 2024, U.S. GAAP results included income before provision for income taxes of $265 million and $1.4 billion, respectively, and a margin on income before provision for income taxes of 25.7% and 25.7%, respectively. Carlyle Group's Chief Executive Officer, Harvey M. Schwartz, attributed the firm's success to its ability to meet financial targets, including record FRE and FRE margin, and robust inflows (Carlyle Group, 2025).

The Board of Directors declared a quarterly dividend of $0.35 per common share, payable on February 28, 2025, to shareholders of record as of February 21, 2025. For full-year 2024, the Board of Directors declared $1.40 in aggregate distributions to common shareholders, reflecting the company's commitment to returning value to shareholders (Carlyle Group, 2025).

Carlyle Group's strong performance in Q4 2024 was driven by several factors, including:

1. Robust inflows: The firm experienced an 11% rise in Global Investment Solutions attributable to inflows, notably in the company's AlpInvest Secondaries and Portfolio Finance and CAPM funds.
2. Record Fee Related Earnings (FRE) and FRE margin: Carlyle Group achieved record FRE and FRE margin, demonstrating its ability to generate value for shareholders.
3. Growth in Global Credit: The firm's Global Credit business delivered growth in revenue and assets under management, with the largest asset-backed Discovery fund reaching $XX billion.
4. Strategic initiatives: Carlyle Group implemented a new compensation strategy, authorized a $X.X billion share repurchase program, and bolstered its leadership team, all of which contributed to improved performance and shareholder value.

Carlyle Group's dividend policy in 2024 reflected the company's strong financial performance and commitment to shareholder value. The Board of Directors declared a quarterly dividend of $0.35 per common share, payable on February 28, 2025, to shareholders of record as of February 21, 2025. This dividend was part of the $1.40 in aggregate distributions declared for the full-year 2024. The company's dividend history shows a trend of consistent and increasing distributions to shareholders, reflecting its commitment to returning capital to shareholders and its confidence in its financial performance.

In conclusion, Carlyle Group's strong performance in Q4 2024 was driven by robust inflows, record Fee Related Earnings (FRE) and FRE margin, growth in Global Credit, and strategic initiatives. The company's dividend policy in 2024 reflected its commitment to shareholder value and its confidence in its financial performance. As the company enters 2025, it expects a high level of activity across its platform and remains focused on driving long-term shareholder value.