Carlyle Posts $77 Million Pretax Loss — And Declares A $0.35 Quarterly Dividend
CEO Harvey M. Schwartz pointed to strong distributable earnings and almost $100 billion returned to fund investors since early 2024.
Carlyle Group, which manages funds that buy businesses and provide financing, reported an unaudited third-quarter $77 million pretax loss Thursday, according to its SEC filing. The board declared a $0.35 quarterly dividend per common share, while management emphasized a separate earnings measure.
A Loss And A Different Earnings Measure
The standard-accounting result covers the quarter ended September 30, 2026. Carlyle reported a pretax loss margin of 23.0%.
Harvey M. Schwartz, Carlyle's chief executive officer, described distributable earnings per share as delivering “one of our strongest quarters of Distributable Earnings per share on record,” in the company's earnings release. Schwartz's assessment concerns distributable earnings, rather than the standard-accounting pretax result.
Fund investors have received distributions approaching $100 billion since the beginning of 2024, Schwartz said. Those distributions go to investors in Carlyle's funds; the quarterly common-share dividend is a separate payout.
The Funds Behind Carlyle's Business
Carlyle managed $479 billion in assets as of September 30, 2026. Its annual report put assets under management at $477 billion as of December 31, 2025.
The business spans Global Private Equity, Global Credit and Carlyle AlpInvest. Its funds invest in companies, real estate and infrastructure, and make loans or provide other financing. AlpInvest helps clients assemble private-equity portfolios by investing in funds, buying existing fund interests and investing alongside other funds.
Pension funds, sovereign wealth funds, insurers and wealthy individuals are among Carlyle's customers. Its capital markets business also earns fees for arranging loans and securities transactions.
As of December 31, 2025, Carlyle served more than 3,200 active investors in funds that share profits with the manager, across 87 countries, according to its annual report.
Schwartz's Growth Case
Schwartz cited nearly record levels of assets awaiting fee-earning status and described fundraising as being in the early stages of a strong cycle. He said Carlyle was “exceptionally well positioned to accelerate growth in the years ahead.”
That is management's outlook, alongside a quarter in which Carlyle reported a pretax accounting loss and declared a common-share cash payout.
The $0.35 dividend is payable November 23 to shareholders of record at the close of business November 16.
