Carlyle Group Inc. dealmakers’ cut of profits from successfully exiting investments more than quadrupled in 2021, another example of the burgeoning wealth created in a boom year for private equity.
The firm sold out of a record $15.3 billion of deals in the fourth quarter, Washington-based Carlyle said Thursday in a statement. Distributable earnings, or profit available to shareholders, surged to $902.8 million in the quarter, a 281% increase from a year earlier.
Carlyle’s dealmakers received $1.41 billion of the profits tied to exits in 2021, a 315% increase from the prior year in so-called realized performance revenues related compensation. Employee pay and benefits almost doubled in 2021 to $2.3 billion, a figure that excludes stock-based compensation, which also increased.
Carlyle raised $51.3 billion in fresh capital from investors across strategies last year, almost double from the previous year, and the firm managed $301 billion as of Dec. 31. The latest cash haul reflects the appetite among pensions and endowments for returns that aren’t correlated to stocks and bonds, bringing Carlyle closer to its goal of raising about $130 billion from 2021 through 2024.
Read more: Yahoo Finance
