The Carlyle Group reported a record $260 billion in assets under management as of March 31, up 5.7% from $246 billion in AUM as of Dec. 31 and up 20% from the year-earlier quarter.
In its earnings release Thursday, Carlyle attributed the increase in AUM mostly to fund performance, with 13% appreciation in the first quarter and 34% year over year among its funds that provide carried interest.
Also adding to its AUM, was $7.8 billion Carlyle raised in the quarter and $27.7 billion in the year ended March 31. Carlyle has $75 billion in dry powder, down from $76 billion in the prior quarter.
Carlyle's global private equity business had $137.5 billion as of March 31, a 4.3% increase from $131.8 billion as of Dec. 31 and up 14.4% from $120.2 billion year over year. Investment solutions reported $63.6 billion in AUM as of March 31, up 9.5% from $58.1 billion at the end of the prior quarter and up 32.5% from $48 billion as of March 31, 2020.
Carlyle's global credit business had $58.8 billion in AUM as of March 31, increasing 5.2% from $55.9 billion as of Dec. 31 and rising 20.5% from $48.8 billion at the end of the year-earlier quarter.
GAAP net income in the first quarter was $869 million, up from a GAAP net loss of $612 million in the first quarter of 2020.
