Carlyle tops $300B in AUM, sees real estate beat PE investments in Q4

The Carlyle Group reported a record $3 billion in net income for 2021, hauling in $648 million in the fourth quarter alone.

The Washington, DC-based private equity firm saw its real estate investments significantly outperform its PE investments in Q4, with returns of 11% and 6%, respectively, according to its latest earnings report. The firm reported its assets under management grew to $301 billion in Q4, up more than 22% year-over-year.

Carlyle's strong real estate performance mirrors the returns of Blackstone, which reported last week that its total real estate holdings climbed 19.2% and its private equity investments rose 4.8%.

Carlyle reported $903 million in distributable earnings—the allocation of cash that can be returned to investors—in Q4, compared to $237 million in the fourth quarter of 2020, representing a 281% jump.
 

Related read: Blackstone eyes $1T in AUM this year, ahead of its goal