The Carlyle Group Inc. reported a decrease in net income for the year ended December 2025, primarily due to a decline in performance allocations and principal investment income. The decrease in performance allocations was driven by a reduction in the value of certain funds, while principal investment income decreased due to an impairment charge related to its investment in NGP Management and its affiliates. Despite the decrease in net income, the Company’s distributable earnings and fee-related earnings increased, reflecting strong fundraising activity and capital deployment. The Company maintains a strong liquidity position with substantial cash and investments, and has a robust pipeline of deals across its three segments. The Company also announced a share repurchase program and continued to provide dividends to its common stockholders. The Company remains well-positioned to navigate the current market environment and continue to deliver value to its investors.
