Document
0.00300.00400.0040P1Y1400000117840651117840651P5YP6MP5Yfalse--12-31Q1202000015271660.151.011.000.145000.750.041.000.750.040.150.891.080.0825.180.150.380.990.00500.450.010.750.450.010.100.330.000.080.010.150.970.990.02100.580.020.980.570.020.120.570.980.080.040.241.000.940.30000.600.071.000.600.070.400.411.010.080.210.240.020.930.00030.400.020.280.400.020.200.100.000.080.000.240.810.930.04250.480.040.880.490.040.320.290.760.080.020.011000000000003483586233483586230.038750.056250.056250.056500.056500.035000.035000.750.040.150.820.450.010.100.400.610.030.130.620.600.070.400.600.400.020.200.220.460.050.280.37P3YP1YP4Y000117840651117840651250000000P3Y 0001527166 2020-01-01 2020-03-31 0001527166 2020-04-27 0001527166 2020-03-31 0001527166 2019-12-31 0001527166 cg:PrincipalInvestmentIncomeLossMember 2020-01-01 2020-03-31 0001527166 2019-01-01 2019-03-31 0001527166 cg:IncentiveFeeMember 2019-01-01 2019-03-31 0001527166 cg:FundManagementFeeMember 2019-01-01 2019-03-31 0001527166 cg:PerformanceAllocationsMember 2019-01-01 2019-03-31 0001527166 cg:IncentiveFeeMember 2020-01-01 2020-03-31 0001527166 cg:PrincipalInvestmentIncomeLossMember 2019-01-01 2019-03-31 0001527166 cg:PerformanceAllocationsMember 2020-01-01 2020-03-31 0001527166 cg:FundManagementFeeMember 2020-01-01 2020-03-31 0001527166 us-gaap:AccountingStandardsUpdate201602Member cg:NonControllingInterestsInCarlyleHoldingsMember 2019-01-01 0001527166 2018-12-31 0001527166 cg:CommonUnitsMember 2019-01-01 2019-03-31 0001527166 cg:NonControllingInterestsInCarlyleHoldingsMember 2019-01-01 2019-03-31 0001527166 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001527166 us-gaap:PreferredStockMember 2019-01-01 2019-03-31 0001527166 cg:PartnersCapitalMember 2018-12-31 0001527166 cg:NonControllingInterestsInCarlyleHoldingsMember 2019-03-31 0001527166 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001527166 us-gaap:PreferredStockMember 2018-12-31 0001527166 2019-03-31 0001527166 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001527166 cg:PartnersCapitalMember 2019-01-01 2019-03-31 0001527166 cg:NonControllingInterestsInCarlyleHoldingsMember 2018-12-31 0001527166 cg:CommonUnitsMember 2019-03-31 0001527166 cg:CommonUnitsMember 2018-12-31 0001527166 us-gaap:NoncontrollingInterestMember 2018-12-31 0001527166 us-gaap:NoncontrollingInterestMember 2019-03-31 0001527166 cg:PartnersCapitalMember 2019-03-31 0001527166 us-gaap:PreferredStockMember 2019-03-31 0001527166 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 0001527166 us-gaap:AccountingStandardsUpdate201602Member cg:PartnersCapitalMember 2019-01-01 0001527166 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001527166 us-gaap:CommonStockMember 2020-03-31 0001527166 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001527166 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001527166 cg:CommonUnitsMember 2020-03-31 0001527166 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001527166 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001527166 us-gaap:NoncontrollingInterestMember 2019-12-31 0001527166 cg:NonControllingInterestsInCarlyleHoldingsMember 2019-12-31 0001527166 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001527166 us-gaap:RetainedEarningsMember 2020-03-31 0001527166 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0001527166 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001527166 cg:PartnersCapitalMember 2020-01-01 2020-03-31 0001527166 cg:PartnersCapitalMember 2019-12-31 0001527166 us-gaap:CommonStockMember 2019-12-31 0001527166 us-gaap:NoncontrollingInterestMember 2020-03-31 0001527166 cg:PartnersCapitalMember 2020-03-31 0001527166 cg:CommonUnitsMember 2020-01-01 2020-03-31 0001527166 cg:CommonUnitsMember 2019-12-31 0001527166 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001527166 us-gaap:RetainedEarningsMember 2019-12-31 0001527166 cg:NonControllingInterestsInCarlyleHoldingsMember 2020-01-01 2020-03-31 0001527166 cg:NonControllingInterestsInCarlyleHoldingsMember 2020-03-31 0001527166 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001527166 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-12-31 0001527166 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2020-03-31 0001527166 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-12-31 0001527166 us-gaap:AccumulatedTranslationAdjustmentMember 2020-03-31 0001527166 us-gaap:AccumulatedTranslationAdjustmentMember 2019-12-31 0001527166 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-03-31 0001527166 srt:MaximumMember 2020-01-01 2020-03-31 0001527166 srt:MaximumMember cg:CertainOpenendedandLongerdatedCarryFundsMember 2020-01-01 2020-03-31 0001527166 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:CollateralizedLoanObligationsMember 2020-03-31 0001527166 srt:MinimumMember 2020-01-01 2020-03-31 0001527166 srt:MaximumMember cg:PrivateEquityAndRealEstateFundMember 2020-01-01 2020-03-31 0001527166 srt:MinimumMember cg:CertainOpenendedandLongerdatedCarryFundsMember 2020-01-01 2020-03-31 0001527166 srt:MinimumMember cg:PrivateEquityAndRealEstateFundMember 2020-01-01 2020-03-31 0001527166 srt:MaximumMember cg:ManagedAccountsandLongerdatedCarryFundsMember 2020-01-01 2020-03-31 0001527166 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-03-31 0001527166 srt:MinimumMember cg:ManagedAccountsandLongerdatedCarryFundsMember 2020-01-01 2020-03-31 0001527166 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2019-12-31 0001527166 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:InvestmentsOfConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesLoansPayableOfConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:AviationSubordinatedNotesMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentsInCLOsAndOtherMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel2Member cg:LoansInvestmentInConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member 2019-12-31 0001527166 us-gaap:FairValueInputsLevel1Member cg:InvestmentsInCLOsAndOtherMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:InvestmentsInCLOsAndOtherMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel1Member cg:LoansInvestmentInConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:InvestmentsOfConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel2Member us-gaap:BondsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel2Member 2019-12-31 0001527166 us-gaap:FairValueInputsLevel1Member us-gaap:EquitySecuritiesMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel1Member 2019-12-31 0001527166 us-gaap:FairValueInputsLevel2Member us-gaap:EquitySecuritiesMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel1Member us-gaap:BondsMember 2019-12-31 0001527166 cg:InvestmentsOfConsolidatedFundsMember 2019-12-31 0001527166 cg:LoansInvestmentInConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:ForeignExchangeForwardMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel2Member us-gaap:ForeignExchangeForwardMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel2Member cg:InvestmentsInCLOsAndOtherMember 2019-12-31 0001527166 us-gaap:EquitySecuritiesMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel2Member cg:InvestmentsOfConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel1Member us-gaap:ForeignExchangeForwardMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel1Member cg:InvestmentsOfConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:BondsMember 2019-12-31 0001527166 cg:InvestmentsInCLOsAndOtherMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:ForeignExchangeForwardMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember 2020-01-01 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember 2020-01-01 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember 2020-01-01 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:InvestmentsInCLOsAndOtherMember 2020-01-01 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:InvestmentsInCLOsAndOtherMember 2020-03-31 0001527166 cg:LoansInvestmentInConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel1Member us-gaap:BondsMember 2020-03-31 0001527166 cg:InvestmentsInCLOsAndOtherMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel2Member cg:LoansInvestmentInConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:ForeignExchangeForwardMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel1Member 2020-03-31 0001527166 us-gaap:FairValueInputsLevel2Member 2020-03-31 0001527166 us-gaap:ForeignExchangeForwardMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel1Member cg:InvestmentsOfConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel2Member cg:InvestmentsInCLOsAndOtherMember 2020-03-31 0001527166 us-gaap:EquitySecuritiesMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel1Member cg:LoansInvestmentInConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel2Member us-gaap:ForeignExchangeForwardMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel2Member cg:InvestmentsOfConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel1Member us-gaap:ForeignExchangeForwardMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel1Member us-gaap:EquitySecuritiesMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel1Member cg:InvestmentsInCLOsAndOtherMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel2Member us-gaap:BondsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel2Member us-gaap:EquitySecuritiesMember 2020-03-31 0001527166 cg:InvestmentsOfConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:BondsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansPayableOfConsolidatedFundsMember 2020-01-01 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansPayableOfConsolidatedFundsMember 2019-01-01 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansPayableOfConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansPayableOfConsolidatedFundsMember 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansPayableOfConsolidatedFundsMember 2020-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansPayableOfConsolidatedFundsMember 2018-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:AviationSubordinatedNotesMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesLoansPayableOfConsolidatedFundsMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentsInCLOsAndOtherMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember 2019-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:InvestmentsInCLOsAndOtherMember 2019-01-01 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember 2019-01-01 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember 2019-01-01 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:InvestmentsInCLOsAndOtherMember 2018-12-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember 2018-12-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:InvestmentsInCLOsAndOtherMember 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember 2018-12-31 0001527166 us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember 2019-03-31 0001527166 us-gaap:FairValueInputsLevel3Member 2018-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:AviationSubordinatedNotesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputDiscountMarginMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputDiscountMarginMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:AviationSubordinatedNotesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:AviationSubordinatedNotesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputDiscountMarginMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2019-12-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2019-12-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputDiscountMarginMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputDiscountMarginMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 cg:CLOTermLoansMember 2020-01-01 2020-03-31 0001527166 us-gaap:SeniorNotesMember 2020-01-01 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputDiscountMarginMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentInConsolidatedFundsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDiscountRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:AviationSubordinatedNotesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:AviationSubordinatedNotesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member us-gaap:BondsMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:AviationSubordinatedNotesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member us-gaap:EquitySecuritiesMember us-gaap:MeasurementInputDiscountRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember cg:MeasurementInputRecoveryRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MinimumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:SeniorSecuredNotesInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 srt:MaximumMember us-gaap:FairValueInputsLevel3Member cg:LoansInvestmentsInCLOsAndOtherMember us-gaap:MeasurementInputQuotedPriceMember us-gaap:ValuationTechniqueConsensusPricingModelMember 2020-03-31 0001527166 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member cg:SubordinatedNotesAndPreferredSharesMember us-gaap:MeasurementInputDefaultRateMember cg:ValuationTechniqueDiscountedCashFlowWithConsensusPricingMember 2020-03-31 0001527166 cg:GlobalCreditSegmentMember 2019-12-31 0001527166 cg:GlobalCreditSegmentMember 2020-03-31 0001527166 cg:RealAssetsSegmentMember 2020-03-31 0001527166 cg:RealAssetsSegmentMember 2019-12-31 0001527166 cg:CorporatePrivateEquityMember 2020-03-31 0001527166 cg:CorporatePrivateEquityMember 2019-12-31 0001527166 cg:InvestmentSolutionsSegmentMember 2019-12-31 0001527166 cg:InvestmentSolutionsSegmentMember 2020-03-31 0001527166 cg:CarlylePartnersVILPAndCarlyleAsiaPartnersIVLPMember cg:AccruedPerformanceAllocationsMember us-gaap:CustomerConcentrationRiskMember 2020-03-31 2020-03-31 0001527166 cg:CarlylePartnersVIL.P.Member cg:AccruedPerformanceAllocationsMember us-gaap:CustomerConcentrationRiskMember 2019-12-31 2019-12-31 0001527166 cg:NGPManagementCompanyLLCMember 2020-01-01 2020-03-31 0001527166 cg:NGPManagementCompanyLLCMember 2019-01-01 2019-03-31 0001527166 cg:ManagementFeeRelatedRevenuesMember 2020-01-01 2020-03-31 0001527166 cg:PerformanceFeeRevenueMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-03-31 0001527166 cg:CarlyleInternationalEnergyPartnersILPMember cg:PerformanceFeeRevenueMember us-gaap:CustomerConcentrationRiskMember 2020-01-01 2020-03-31 0001527166 cg:FortitudeReinsuranceCompanyLtd.fkaDSAReinsuranceCompanyLtdMember srt:MinimumMember cg:FortitudeGroupHoldingsLLCMember 2018-11-13 2018-11-13 0001527166 cg:FortitudeReinsuranceCompanyLtd.fkaDSAReinsuranceCompanyLtdMember srt:MaximumMember cg:FortitudeGroupHoldingsLLCMember 2018-11-13 2018-11-13 0001527166 cg:FortitudeGroupHoldingsLLCMember srt:ScenarioForecastMember 2020-05-01 2020-05-31 0001527166 cg:FortitudeGroupHoldingsLLCMember 2018-11-13 0001527166 cg:FortitudeGroupHoldingsLLCMember srt:ScenarioForecastMember 2024-01-01 2024-01-01 0001527166 cg:FortitudeGroupHoldingsLLCMember 2020-01-01 2020-03-31 0001527166 cg:FortitudeGroupHoldingsLLCMember 2019-12-31 0001527166 cg:CarlyleRealtyPartnersVL.P.Member cg:PerformanceFeeRevenueMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-03-31 0001527166 cg:FortitudeGroupHoldingsLLCMember 2020-03-31 0001527166 cg:FortitudeGroupHoldingsLLCMember 2018-11-13 2018-11-13 0001527166 cg:AffiliatedInvestmentFundMember cg:AIGMember cg:FortitudeGroupHoldingsLLCMember srt:ScenarioForecastMember 2020-06-30 2020-06-30 0001527166 cg:CorporateMezzanineSecuritiesBondsAndWarrantsMember 2019-12-31 0001527166 cg:PerformanceFeeRevenueMember us-gaap:CustomerConcentrationRiskMember 2020-01-01 2020-03-31 0001527166 cg:CorporateMezzanineSecuritiesBondsAndWarrantsMember 2020-03-31 0001527166 cg:CarlylePartnersVIL.P.Member cg:PerformanceFeeRevenueMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-03-31 0001527166 cg:NGPManagementCompanyLLCMember srt:MinimumMember 2020-01-01 2020-03-31 0001527166 cg:NGPManagementCompanyLLCMember srt:MaximumMember 2020-01-01 2020-03-31 0001527166 cg:AffiliatedInvestmentFundMember cg:FortitudeGroupHoldingsLLCMember srt:ScenarioForecastMember 2020-06-30 2020-06-30 0001527166 cg:CarlyleAsiaPartnersIVLPMember cg:PerformanceFeeRevenueMember us-gaap:CustomerConcentrationRiskMember 2020-01-01 2020-03-31 0001527166 cg:FortitudeGroupHoldingsLLCMember cg:FortitudeReinsuranceCompanyLtd.fkaDSAReinsuranceCompanyLtdMember 2018-11-13 2018-11-13 0001527166 cg:FortitudeGroupHoldingsLLCMember 2019-01-01 2019-03-31 0001527166 cg:AlpInvestCoAndSecondaryInvestmentsMember cg:PerformanceFeeRevenueMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-03-31 0001527166 cg:FortitudeGroupHoldingsLLCMember srt:ScenarioForecastMember 2020-06-30 0001527166 cg:CarlylePartnersVIL.P.Member cg:PerformanceFeeRevenueMember us-gaap:CustomerConcentrationRiskMember 2020-01-01 2020-03-31 0001527166 cg:FortitudeReinsuranceCompanyLtd.fkaDSAReinsuranceCompanyLtdMember 2020-01-01 2020-03-31 0001527166 cg:FortitudeReinsuranceCompanyLtd.fkaDSAReinsuranceCompanyLtdMember 2019-01-01 2019-03-31 0001527166 cg:RealAssetsSegmentMember 2019-01-01 2019-03-31 0001527166 cg:CorporatePrivateEquityMember 2020-01-01 2020-03-31 0001527166 cg:GlobalCreditSegmentMember 2020-01-01 2020-03-31 0001527166 cg:InvestmentSolutionsSegmentMember 2019-01-01 2019-03-31 0001527166 cg:RealAssetsSegmentMember 2020-01-01 2020-03-31 0001527166 cg:InvestmentSolutionsSegmentMember 2020-01-01 2020-03-31 0001527166 cg:GlobalCreditSegmentMember 2019-01-01 2019-03-31 0001527166 cg:CorporatePrivateEquityMember 2019-01-01 2019-03-31 0001527166 cg:PerformanceAllocationsRealizedMember 2019-01-01 2019-03-31 0001527166 cg:PerformanceAllocationsUnrealizedMember 2020-01-01 2020-03-31 0001527166 cg:PrincipalInvestmentIncomeLossRealizedCLOsMember 2020-01-01 2020-03-31 0001527166 cg:PrincipalInvestmentIncomeLossRealizedCLOsMember 2019-01-01 2019-03-31 0001527166 cg:PrincipalInvestmentIncomeLossCLOsAndOtherInvestmentsMember 2020-01-01 2020-03-31 0001527166 cg:PrincipalInvestmentIncomeLossCLOsAndOtherInvestmentsMember 2019-01-01 2019-03-31 0001527166 cg:PerformanceAllocationsUnrealizedMember 2019-01-01 2019-03-31 0001527166 cg:PrincipalInvestmentIncomeLossUnrealizedCLOsMember 2020-01-01 2020-03-31 0001527166 cg:PrincipalInvestmentIncomeLossEquityMethodInvestmentsMember 2020-01-01 2020-03-31 0001527166 cg:PrincipalInvestmentIncomeLossUnrealizedCLOsMember 2019-01-01 2019-03-31 0001527166 cg:PrincipalInvestmentIncomeLossEquityMethodInvestmentsMember 2019-01-01 2019-03-31 0001527166 cg:PrincipalInvestmentIncomeLossRealizedEquityMethodInvestmentsMember 2019-01-01 2019-03-31 0001527166 cg:PrincipalInvestmentIncomeLossUnrealizedEquityMethodInvestmentsMember 2019-01-01 2019-03-31 0001527166 cg:PrincipalInvestmentIncomeLossUnrealizedEquityMethodInvestmentsMember 2020-01-01 2020-03-31 0001527166 cg:PerformanceAllocationsRealizedMember 2020-01-01 2020-03-31 0001527166 cg:PrincipalInvestmentIncomeLossRealizedEquityMethodInvestmentsMember 2020-01-01 2020-03-31 0001527166 cg:NGPManagementMember 2019-12-31 0001527166 cg:NGPFundsMember 2019-12-31 0001527166 cg:NGPManagementCompanyLLCMember 2019-12-31 0001527166 cg:NGPFundsMember 2020-03-31 0001527166 cg:NGPManagementMember 2020-03-31 0001527166 cg:NGPManagementCompanyLLCMember 2020-03-31 0001527166 cg:LoansPayableOfConsolidatedFundsMember 2019-12-31 0001527166 cg:SeniorSecuredNotesMember 2019-12-31 0001527166 cg:SubordinatedNotesAndPreferredSharesMember 2019-12-31 0001527166 cg:SeniorSecuredNotesMember 2019-01-01 2019-12-31 0001527166 cg:SubordinatedNotesAndPreferredSharesMember 2019-01-01 2019-12-31 0001527166 cg:SeniorSecuredNotesMember 2020-03-31 0001527166 cg:LoansPayableOfConsolidatedFundsMember 2020-03-31 0001527166 cg:SubordinatedNotesAndPreferredSharesMember 2020-01-01 2020-03-31 0001527166 cg:SubordinatedNotesAndPreferredSharesMember 2020-03-31 0001527166 cg:SeniorSecuredNotesMember 2020-01-01 2020-03-31 0001527166 cg:PromissoryNotesDueJuly2019Member us-gaap:LondonInterbankOfferedRateLIBORMember 2017-06-30 0001527166 cg:CLOTermLoanMaturingNovember2031Member 2017-02-28 0001527166 cg:PromissoryNotesDueJuly2019Member us-gaap:LondonInterbankOfferedRateLIBORMember 2017-06-01 2017-06-30 0001527166 us-gaap:SeniorNotesMember 2020-01-01 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary2030Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 us-gaap:RevolvingCreditFacilityMember cg:NewSeniorCreditFacilityMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary2029Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 cg:CLOTermLoanEffective2019MaturingMarch2032Member 2020-01-01 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember us-gaap:InterestExpenseMember 2018-09-01 2018-09-30 0001527166 cg:A5.625SeniorNotesDue2043Member us-gaap:SeniorNotesMember 2014-03-31 0001527166 cg:CLOTermLoanEffective2019MaturingMarch2032Member cg:AverageEffectiveInterestRateMember 2020-01-01 2020-03-31 0001527166 cg:ShortTermLineOfCreditMember cg:GlobalCreditRevolvingCreditFacilityMember 2018-12-17 0001527166 cg:ShortTermLineOfCreditMember cg:GlobalCreditRevolvingCreditFacilityMember 2019-12-01 2019-12-31 0001527166 cg:CLOTermLoanMaturingAugust2022Member us-gaap:EuriborFutureMember 2020-01-01 2020-03-31 0001527166 cg:CLOTermLoanMaturingJuly2029Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 cg:SeniorNotes3.500Due2029Member us-gaap:SeniorNotesMember 2019-09-30 0001527166 us-gaap:RevolvingCreditFacilityMember cg:GlobalCreditRevolvingCreditFacilityMember 2018-12-17 0001527166 us-gaap:RevolvingCreditFacilityMember cg:NewSeniorCreditFacilityMember us-gaap:BaseRateMember 2020-01-01 2020-03-31 0001527166 2017-06-30 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember us-gaap:GeneralAndAdministrativeExpenseMember 2018-09-01 2018-09-30 0001527166 us-gaap:RevolvingCreditFacilityMember cg:GlobalCreditRevolvingCreditFacilityMember 2020-01-01 2020-03-31 0001527166 us-gaap:RevolvingCreditFacilityMember cg:GlobalCreditRevolvingCreditFacilityMember us-gaap:BaseRateMember 2018-12-17 2018-12-17 0001527166 cg:CLOTermLoanMaturingNovember2031Member 2020-01-01 2020-03-31 0001527166 cg:LongTermLineOfCreditMember cg:GlobalCreditRevolvingCreditFacilityMember 2018-12-17 0001527166 cg:CLOTermLoanMaturingJanuary2031Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2013-01-31 0001527166 cg:CLOTermLoanMaturingApril2031Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 us-gaap:RevolvingCreditFacilityMember cg:NewSeniorCreditFacilityMember 2020-03-31 0001527166 cg:A5.625SeniorNotesDue2043Member us-gaap:SeniorNotesMember 2013-03-31 0001527166 cg:CLOTermLoansMember 2019-01-01 2019-03-31 0001527166 us-gaap:RevolvingCreditFacilityMember cg:GlobalCreditRevolvingCreditFacilityMember us-gaap:EurodollarMember 2018-12-17 2018-12-17 0001527166 us-gaap:RevolvingCreditFacilityMember cg:GlobalCreditRevolvingCreditFacilityMember 2020-03-31 0001527166 cg:A5.650SeniorNotesDue2048Member us-gaap:SeniorNotesMember 2018-09-30 0001527166 cg:CLOTermLoanMaturingAugust2022Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingNovember2031Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingOctober2030Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingAugust2030Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2018-09-30 0001527166 cg:CLOTermLoanEffective2019MaturingAugust2032Member cg:AverageEffectiveInterestRateMember 2020-01-01 2020-03-31 0001527166 cg:CLOTermLoanMaturingNovember2031Member us-gaap:EuriborFutureMember 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2018-09-30 0001527166 cg:CLOFinancingFacilityMember 2019-02-05 0001527166 cg:CLOTermLoanMaturingJanuary222030Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 cg:CLOFinancingFacilityMember 2020-03-31 0001527166 cg:SeniorNotes3.500Due2029Member us-gaap:SeniorNotesMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingJuly2031Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-03-31 0001527166 cg:A5.650SeniorNotesDue2048Member us-gaap:SeniorNotesMember 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2020-01-01 2020-03-31 0001527166 cg:SeniorNotes3.500Due2029Member us-gaap:SeniorNotesMember 2019-12-31 0001527166 cg:A5.625SeniorNotesDue2043Member us-gaap:SeniorNotesMember 2020-01-01 2020-03-31 0001527166 cg:A5.625SeniorNotesDue2043Member us-gaap:SeniorNotesMember 2020-03-31 0001527166 cg:A5.625SeniorNotesDue2043Member us-gaap:SeniorNotesMember 2019-12-31 0001527166 cg:A5.650SeniorNotesDue2048Member us-gaap:SeniorNotesMember 2019-12-31 0001527166 cg:A5.625SeniorNotesDue2043Member us-gaap:SeniorNotesMember 2019-01-01 2019-03-31 0001527166 cg:SeniorNotes3.500Due2029Member us-gaap:SeniorNotesMember 2020-01-01 2020-03-31 0001527166 cg:A5.650SeniorNotesDue2048Member us-gaap:SeniorNotesMember 2019-01-01 2019-03-31 0001527166 cg:A5.650SeniorNotesDue2048Member us-gaap:SeniorNotesMember 2020-01-01 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2019-12-31 0001527166 cg:SeniorNotes3.500Due2029Member us-gaap:SeniorNotesMember 2019-01-01 2019-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2019-01-01 2019-03-31 0001527166 cg:CLOTermLoanMaturingOctober2030Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingNovember2031Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingJanuary222030Member 2020-03-31 0001527166 cg:CLOTermLoanEffective2019MaturingAugust2032Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingJuly2029Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingJanuary2031Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingOctober2030Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingApril2031Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingAugust2030Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingJuly2031Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingOctober2030Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:CLOTermLoanEffective2019MaturingMarch2032Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingAugust2022Member us-gaap:EuriborFutureMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingJuly2029Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary2029Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingJanuary2031Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary2030Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingAugust2022Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingJuly2029Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingApril2031Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingJuly2031Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingAugust2030Member 2019-12-31 0001527166 cg:CLOTermLoansMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingJuly2031Member 2020-03-31 0001527166 cg:CLOTermLoanEffective2019MaturingAugust2032Member cg:AverageEffectiveInterestRateMember 2020-03-31 0001527166 cg:CLOTermLoanEffective2019MaturingAugust2032Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingJanuary2029Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary2029Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary2031Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary222030Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingApril2031Member 2019-12-31 0001527166 cg:CLOTermLoansMember 2019-12-31 0001527166 cg:CLOTermLoanEffective2019MaturingMarch2032Member cg:AverageEffectiveInterestRateMember 2020-03-31 0001527166 cg:CLOTermLoanMaturingAugust2030Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:CLOTermLoanEffective2019MaturingMarch2032Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary222030Member 2019-12-31 0001527166 cg:CLOTermLoanMaturingJanuary2030Member 2020-03-31 0001527166 cg:CLOTermLoanMaturingJanuary2030Member us-gaap:LondonInterbankOfferedRateLIBORMember 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member 2020-03-31 0001527166 cg:SeniorNotes3.500Due2029Member 2020-03-31 0001527166 cg:A5.625SeniorNotesDue2043Member 2020-03-31 0001527166 cg:A5.650SeniorNotesDue2048Member 2019-12-31 0001527166 cg:A5.650SeniorNotesDue2048Member 2020-03-31 0001527166 cg:SeniorNotes3.500Due2029Member 2019-12-31 0001527166 cg:A3.875SeniorNotesDue2023Member 2019-12-31 0001527166 us-gaap:RevolvingCreditFacilityMember cg:GlobalCreditRevolvingCreditFacilityMember 2019-12-31 0001527166 cg:A5.625SeniorNotesDue2043Member 2019-12-31 0001527166 us-gaap:RevolvingCreditFacilityMember cg:NewSeniorCreditFacilityMember 2019-12-31 0001527166 cg:PromissoryNotesDueJuly2019Member 2019-01-01 2019-03-31 0001527166 us-gaap:RevolvingCreditFacilityMember cg:NewSeniorCreditFacilityMember 2020-01-01 2020-03-31 0001527166 cg:A5.625SeniorNotesDue2043Member us-gaap:SeniorNotesMember cg:TreasuryRateMember 2020-01-01 2020-03-31 0001527166 cg:A5.650SeniorNotesDue2048Member us-gaap:SeniorNotesMember cg:TreasuryRateMember 2020-01-01 2020-03-31 0001527166 cg:A3.875SeniorNotesDue2023Member us-gaap:SeniorNotesMember cg:TreasuryRateMember 2020-01-01 2020-03-31 0001527166 cg:ShortTermLineOfCreditMember cg:GlobalCreditRevolvingCreditFacilityMember 2018-12-17 2018-12-17 0001527166 cg:LongTermLineOfCreditMember cg:GlobalCreditRevolvingCreditFacilityMember 2018-12-17 2018-12-17 0001527166 2010-07-07 2010-07-07 0001527166 cg:ContingentObligationsGivebackMember cg:ManagementAndFormerManagementMember 2020-03-31 0001527166 cg:ManagementAndFormerManagementMember 2019-01-01 2019-12-31 0001527166 srt:MinimumMember 2020-03-31 0001527166 cg:AllegedMisappropriationofInvestmentsinPetroleumCommoditiesMember 2018-12-31 0001527166 cg:FinancialGuaranteeEmployeeCreditFacilityMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-09-02 0001527166 srt:ScenarioForecastMember 2020-07-01 2020-12-31 0001527166 cg:FinancialGuaranteeEmployeeLoansMember cg:Index12MATMember 2019-09-03 0001527166 cg:FinancialGuaranteeEmployeeLoansMember 2019-09-03 0001527166 us-gaap:MinistryOfTheEconomyFinanceAndIndustryFranceMember 2015-04-01 2015-04-30 0001527166 cg:ContingentObligationsGivebackMember 2019-12-31 0001527166 cg:AllegedMisappropriationofInvestmentsinPetroleumCommoditiesMember 2018-01-01 2018-12-31 0001527166 2019-01-01 2019-12-31 0001527166 us-gaap:SubsequentEventMember 2020-04-02 2020-04-02 0001527166 us-gaap:MinistryOfTheEconomyFinanceAndIndustryFranceMember us-gaap:SettledLitigationMember 2019-07-31 0001527166 us-gaap:MinistryOfTheEconomyFinanceAndIndustryFranceMember us-gaap:SettledLitigationMember 2019-01-01 2019-12-31 0001527166 2018-07-01 2018-09-30 0001527166 cg:VermillionLegalMatterMember 2017-12-31 0001527166 cg:FinancialGuaranteeEmployeeCreditFacilityMember 2019-09-02 0001527166 2017-09-04 2020-03-31 0001527166 cg:ContingentObligationsGivebackMember 2020-03-31 0001527166 srt:MaximumMember 2020-03-31 0001527166 cg:CarlyleHoldingsMember 2019-01-01 2019-12-31 0001527166 cg:CEREPIMember us-gaap:MinistryOfTheEconomyFinanceAndIndustryFranceMember 2015-04-01 2015-04-30 0001527166 cg:FinancialGuaranteeEmployeeLoansMember 2020-03-31 0001527166 cg:FinancialGuaranteeEmployeeLoansMember 2019-09-03 2019-09-03 0001527166 2017-12-31 0001527166 cg:FinancialGuaranteeEmployeeLoansMember us-gaap:PrimeRateMember 2019-09-03 0001527166 cg:FinancialGuaranteeEmployeeCreditFacilityMember 2020-03-31 0001527166 cg:FinancialGuaranteeRevolvingCreditFacilityForFundMember cg:RealAssetsSegmentMember 2019-12-31 0001527166 cg:PartnershipAndCEREPIMember us-gaap:MinistryOfTheEconomyFinanceAndIndustryFranceMember us-gaap:SettledLitigationMember 2019-07-31 0001527166 2020-01-01 2020-01-01 0001527166 2020-01-01 0001527166 cg:CarriedInterestAndCashHeldForCarriedInterestDistributionsMember 2020-01-01 2020-03-31 0001527166 cg:NonCarlyleMajorityOwnedSubsidiariesMember 2020-01-01 2020-03-31 0001527166 cg:NonCarlyleInterestsInConsolidatedFundsMember 2020-01-01 2020-03-31 0001527166 cg:NonCarlyleInterestsInConsolidatedFundsMember 2019-01-01 2019-03-31 0001527166 cg:CarriedInterestAndCashHeldForCarriedInterestDistributionsMember 2019-01-01 2019-03-31 0001527166 cg:NonCarlyleMajorityOwnedSubsidiariesMember 2019-01-01 2019-03-31 0001527166 cg:CarriedInterestAndCashHeldForCarriedInterestDistributionsMember 2019-12-31 0001527166 cg:NonCarlyleInterestsInConsolidatedFundsMember 2019-12-31 0001527166 cg:CarriedInterestAndCashHeldForCarriedInterestDistributionsMember 2020-03-31 0001527166 cg:NonCarlyleInterestsInConsolidatedFundsMember 2020-03-31 0001527166 cg:NonCarlyleMajorityOwnedSubsidiariesMember 2019-12-31 0001527166 cg:NonCarlyleMajorityOwnedSubsidiariesMember 2020-03-31 0001527166 cg:RestrictedCommonUnitsMember 2020-01-01 2020-03-31 0001527166 cg:CarlyleGroupL.P.unitsMember 2020-01-01 2020-03-31 0001527166 cg:CarlyleGroupLpMember 2020-01-01 2020-03-31 0001527166 cg:WeightedAverageVestedCarlyleHoldingsUnitsMember 2019-01-01 2019-03-31 0001527166 cg:CarlyleGroupL.P.unitsMember 2019-01-01 2019-03-31 0001527166 cg:CarlyleGroupLpMember 2019-01-01 2019-03-31 0001527166 cg:RestrictedCommonUnitsMember 2019-01-01 2019-03-31 0001527166 2019-08-19 2019-08-19 0001527166 2019-05-20 2019-05-20 0001527166 2020-02-25 2020-02-25 0001527166 srt:ScenarioForecastMember 2020-05-19 2020-05-19 0001527166 2019-05-20 2020-02-25 0001527166 2019-11-19 2019-11-19 0001527166 us-gaap:SeriesAPreferredStockMember 2017-09-13 0001527166 us-gaap:SeriesAPreferredStockMember 2017-09-13 2017-09-13 0001527166 2019-10-07 0001527166 cg:UnvestedCommonSharesMember 2020-01-01 2020-03-31 0001527166 cg:UnvestedCommonSharesMember 2019-12-31 0001527166 cg:UnvestedCommonSharesMember 2020-03-31 0001527166 us-gaap:RestrictedStockUnitsRSUMember 2020-01-01 2020-03-31 0001527166 us-gaap:RestrictedStockUnitsRSUMember 2020-03-31 0001527166 us-gaap:RestrictedStockUnitsRSUMember 2019-12-31 0001527166 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-03-31 0001527166 2012-05-31 0001527166 us-gaap:OperatingSegmentsMember 2020-01-01 2020-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember 2020-01-01 2020-03-31 0001527166 srt:ConsolidationEliminationsMember 2020-01-01 2020-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001527166 srt:ConsolidationEliminationsMember 2019-01-01 2019-03-31 0001527166 srt:ReportableLegalEntitiesMember 2019-01-01 2019-03-31 0001527166 us-gaap:IntersegmentEliminationMember 2020-01-01 2020-03-31 0001527166 us-gaap:IntersegmentEliminationMember cg:PerformanceAllocationsMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember 2020-01-01 2020-03-31 0001527166 us-gaap:IntersegmentEliminationMember cg:PrincipalInvestmentIncomeLossMember 2020-01-01 2020-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember cg:PrincipalInvestmentIncomeLossUnrealizedMember 2019-01-01 2019-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember cg:PrincipalInvestmentIncomeLossUnrealizedMember cg:FortitudeGroupHoldingsLLCMember 2020-01-01 2020-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember cg:PrincipalInvestmentIncomeLossUnrealizedMember 2020-01-01 2020-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember cg:PrincipalInvestmentIncomeLossUnrealizedMember cg:FortitudeGroupHoldingsLLCMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:GlobalCreditSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember cg:CorporatePrivateEquityMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember cg:CorporatePrivateEquityMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:CorporatePrivateEquityMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:RealAssetsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember cg:InvestmentSolutionsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember cg:RealAssetsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember cg:GlobalCreditSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:InvestmentSolutionsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember cg:CorporatePrivateEquityMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember cg:GlobalCreditSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember cg:RealAssetsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember cg:GlobalCreditSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember cg:InvestmentSolutionsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember cg:InvestmentSolutionsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember cg:RealAssetsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember cg:GlobalCreditSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember cg:CorporatePrivateEquityMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember cg:RealAssetsSegmentMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember 2019-01-01 2019-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember cg:InvestmentSolutionsSegmentMember 2019-01-01 2019-03-31 0001527166 srt:ReportableLegalEntitiesMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember 2020-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember 2020-03-31 0001527166 srt:ReportableLegalEntitiesMember 2020-03-31 0001527166 us-gaap:IntersegmentEliminationMember cg:PerformanceAllocationsMember 2019-01-01 2019-03-31 0001527166 us-gaap:IntersegmentEliminationMember 2019-01-01 2019-03-31 0001527166 us-gaap:IntersegmentEliminationMember cg:PrincipalInvestmentIncomeLossMember 2019-01-01 2019-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember cg:FortitudeReinsuranceCompanyLtd.fkaDSAReinsuranceCompanyLtdMember 2019-01-01 2019-03-31 0001527166 us-gaap:MaterialReconcilingItemsMember cg:FortitudeReinsuranceCompanyLtd.fkaDSAReinsuranceCompanyLtdMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:RealAssetsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:GlobalCreditSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:CorporatePrivateEquityMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember cg:RealAssetsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember cg:GlobalCreditSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember cg:RealAssetsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:InvestmentSolutionsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:InvestmentSolutionsSegmentMember 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember cg:GlobalCreditSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember cg:CorporatePrivateEquityMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember cg:InvestmentSolutionsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:GlobalCreditSegmentMember 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:RealAssetsSegmentMember 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:CorporatePrivateEquityMember 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember cg:CorporatePrivateEquityMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember cg:InvestmentSolutionsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PrincipalInvestmentIncomeLossMember cg:GlobalCreditSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember cg:CorporatePrivateEquityMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember cg:InvestmentSolutionsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember cg:CorporatePrivateEquityMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember us-gaap:InvestmentAdviceMember cg:RealAssetsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember cg:GlobalCreditSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:PerformanceAllocationsMember cg:RealAssetsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:OperatingSegmentsMember cg:FundManagementFeeMember cg:InvestmentSolutionsSegmentMember 2020-01-01 2020-03-31 0001527166 us-gaap:SubsequentEventMember 2020-04-30 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember 2019-12-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember 2019-12-31 0001527166 srt:ConsolidationEliminationsMember 2019-12-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember 2020-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember 2020-03-31 0001527166 srt:ConsolidationEliminationsMember 2020-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember cg:IncentiveFeeMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember cg:PerformanceAllocationsMember 2019-01-01 2019-03-31 0001527166 srt:ConsolidationEliminationsMember cg:IncentiveFeeMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember cg:IncentiveFeeMember 2019-01-01 2019-03-31 0001527166 srt:ConsolidationEliminationsMember cg:FundManagementFeeMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember cg:PrincipalInvestmentIncomeLossMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember cg:FundManagementFeeMember 2019-01-01 2019-03-31 0001527166 srt:ConsolidationEliminationsMember cg:PrincipalInvestmentIncomeLossMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember cg:PrincipalInvestmentIncomeLossMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember cg:FundManagementFeeMember 2019-01-01 2019-03-31 0001527166 srt:ConsolidationEliminationsMember cg:PerformanceAllocationsMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember cg:PerformanceAllocationsMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember 2019-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember 2019-01-01 2019-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember 2020-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember 2019-12-31 0001527166 cg:ConsolidatedOperatingEntitiesMember 2018-12-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember cg:PrincipalInvestmentIncomeLossMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember cg:PerformanceAllocationsMember 2020-01-01 2020-03-31 0001527166 srt:ConsolidationEliminationsMember cg:PerformanceAllocationsMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember cg:FundManagementFeeMember 2020-01-01 2020-03-31 0001527166 srt:ConsolidationEliminationsMember cg:FundManagementFeeMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember cg:IncentiveFeeMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember cg:FundManagementFeeMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember cg:PrincipalInvestmentIncomeLossMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedOperatingEntitiesMember srt:ReportableLegalEntitiesMember cg:PerformanceAllocationsMember 2020-01-01 2020-03-31 0001527166 srt:ConsolidationEliminationsMember cg:PrincipalInvestmentIncomeLossMember 2020-01-01 2020-03-31 0001527166 cg:ConsolidatedFundsMember srt:ReportableLegalEntitiesMember cg:IncentiveFeeMember 2020-01-01 2020-03-31 0001527166 srt:ConsolidationEliminationsMember cg:IncentiveFeeMember 2020-01-01 2020-03-31 iso4217:USD xbrli:shares cg:collateralized_loan_obligation xbrli:shares iso4217:USD xbrli:pure cg:segment cg:office iso4217:GBP iso4217:EUR cg:vehicle cg:obligation
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
 
FORM 10-Q
 
 
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020
OR
 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM                      TO                     
Commission File Number: 001-35538
 
 
 
The Carlyle Group Inc.
(Exact name of registrant as specified in its charter)
  
 
 
Delaware
 
45-2832612
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
1001 Pennsylvania Avenue, NW
Washington, DC, 20004-2505
(Address of principal executive offices) (Zip Code)
(202) 729-5626
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock
CG
The Nasdaq Global Select Market

As of April 27, 2020, there were 348,358,623 shares of common stock of the registrant outstanding.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ý    No  ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ý    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 
  
Accelerated filer
 
 
 
 
 
Non-accelerated filer
 
  
Smaller reporting company
 
 
 
 
 
 
 
 
 
 
 
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No   
 



TABLE OF CONTENTS
 
 
 
Page
 
 
 
 
Item 1.
 
 
 
 
Unaudited Condensed Consolidated Financial Statements – March 31, 2020 and 2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Item 2.
 
 
 
Item 3.
 
 
 
Item 4.
 
 
 
 
 
 
Item 1.
 
 
 
Item 1A.
 
 
 
Item 2.
 
 
 
Item 3.
 
 
 
Item 4.
 
 
 
Item 5.
 
 
 
Item 6.
 
 
 
 
 


1


Forward-Looking Statements
This report may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, contingencies, our dividend policy, our expectations regarding the impact of COVID-19, and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks, uncertainties and assumptions. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements including, but not limited to, those described under the sections entitled “Risk Factors” in this report and in our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the United States Securities and Exchange Commission (“SEC”) on February 12, 2020, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this report and in our other periodic filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

Website and Social Media Disclosure
We use our website (www.carlyle.com), our corporate Facebook page (https://www.facebook.com/onecarlyle/), our corporate Twitter account (@OneCarlyle or www.twitter.com/onecarlyle), our corporate Instagram account (@onecarlyle or www.instagram.com/onecarlyle), our corporate LinkedIn account (www.linkedin.com/company/the-carlyle-group) and our corporate YouTube channel (www.youtube.com/user/onecarlyle) as channels of distribution of material company information. For example, financial and other material information regarding our company is routinely posted on and accessible at www.carlyle.com. Accordingly, investors should monitor these channels, in addition to following our press releases, SEC filings and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about Carlyle when you enroll your email address by visiting the “Email Alert Subscription” section at http://ir.carlyle.com/email-alerts. The contents of our website and social media channels are not, however, a part of this Quarterly Report on Form 10-Q and are not incorporated by reference herein.

 
 

On January 1, 2020, we completed our conversion from a Delaware limited partnership named The Carlyle Group L.P. into a Delaware Corporation named The Carlyle Group Inc. Pursuant to the Conversion, at the specified effective time on January 1, 2020, each common unit of The Carlyle Group L.P. outstanding immediately prior to the effective time converted into one share of common stock of The Carlyle Group Inc. and each special voting unit and general partner unit was canceled for no consideration. In addition, holders of the partnership units in Carlyle Holdings I L.P., Carlyle Holdings II L.P., and Carlyle Holdings III L.P. exchanged such units for an equivalent number of shares of common stock and certain other restructuring steps occurred (the conversion, together with such restructuring steps and related transactions, the “Conversion”).
Unless the context suggests otherwise, references in this report to “Carlyle,” the “Company,” “we,” “us” and “our” refer (i) prior to the consummation of the Conversion to The Carlyle Group L.P. and its consolidated subsidiaries and (ii) from and after the consummation of the Conversion to The Carlyle Group Inc. and its consolidated subsidiaries. References to our common stock or shares in periods prior to the Conversion refer to the common units of The Carlyle Group L.P. When we refer to our “senior Carlyle professionals,” we are referring to the partner-level personnel of our firm. References in this report to the ownership of the senior Carlyle professionals include the ownership of personal planning vehicles of these individuals. When we refer to the “Carlyle Holdings partnerships” or “Carlyle Holdings”, we are referring to Carlyle Holdings I L.P., Carlyle Holdings II L.P., and Carlyle Holdings III L.P., which prior to the Conversion were the holding partnerships through which the Company and our senior Carlyle professionals and other holders of Carlyle Holdings partnership units owned their respective interests in our business.
“Carlyle funds,” “our funds” and “our investment funds” refer to the investment funds and vehicles advised by Carlyle.

“Carry funds” generally refers to closed-end investment vehicles, in which commitments are drawn down over a specified investment period, and in which the general partner receives a special residual allocation of income from limited partners, which we refer to as carried interest, in the event that specified investment returns are achieved by the fund. Disclosures referring to carry funds will also include the impact of certain commitments which do not earn carried interest, but are either part of, or associated

2


with our carry funds. The rate of carried interest, as well as the share of carried interest allocated to Carlyle, may vary across the carry fund platform. Carry funds generally include the following investment vehicles across our four business segments:

Corporate Private Equity: Buyout, middle market and growth capital funds advised by Carlyle
Real Assets: Real estate, power, infrastructure and energy funds advised by Carlyle, as well as certain energy funds advised by our strategic partner NGP Energy Capital Management (“NGP”) in which Carlyle is entitled to receive a share of carried interest (“NGP Carry Funds”)
Global Credit: Distressed credit, energy credit, opportunistic credit, corporate mezzanine funds, aircraft financing and servicing, and other closed-end credit funds advised by Carlyle
Investment Solutions: Funds and vehicles advised by AlpInvest Partners B.V. (“AlpInvest”) and Metropolitan Real Estate Equity Management, LLC (“Metropolitan”), which include primary fund, secondary and co-investment strategies 

Carry funds specifically exclude certain funds advised by NGP in which Carlyle is not entitled to receive a share of carried interest (or “NGP Predecessor Funds”), collateralized loan obligation vehicles (“CLOs”), as well as our business development companies and associated managed accounts.

For an explanation of the fund acronyms used throughout this Quarterly Report, refer to “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operation – Our Family of Funds.”
“Fee-earning assets under management” or “Fee-earning AUM” refers to the assets we manage or advise from which we derive recurring fund management fees. Our Fee-earning AUM is generally based on one of the following, once fees have been activated:
(a)
the amount of limited partner capital commitments, generally for carry funds where the original investment period has not expired, for AlpInvest carry funds during the commitment fee period and for Metropolitan carry funds during the weighted-average investment period of the underlying funds;
(b)
the remaining amount of limited partner invested capital at cost, generally for carry funds and certain co-investment vehicles where the original investment period has expired, Metropolitan carry funds after the expiration of the weighted-average investment period of the underlying funds, and one of our business development companies;
(c)
the amount of aggregate fee-earning collateral balance at par of our CLOs and other securitization vehicles, as defined in the fund indentures (typically exclusive of equities and defaulted positions) as of the quarterly cut-off date;
(d)
the external investor portion of the net asset value of our open-ended funds (pre redemptions and subscriptions), as well as certain carry funds;
(e)
the gross assets (including assets acquired with leverage), excluding cash and cash equivalents, of one of our business development companies and certain carry funds; or
(f)
the lower of cost or fair value of invested capital, generally for AlpInvest carry funds where the commitment fee period has expired and certain carry funds where the investment period has expired.
“Assets under management” or “AUM” refers to the assets we manage or advise. Our AUM equals the sum of the following:
(a) the aggregate fair value of our carry funds and related co-investment vehicles, NGP Predecessor Funds and separately managed accounts, plus the capital that Carlyle is entitled to call from investors in those funds and vehicles (including Carlyle commitments to those funds and vehicles and those of senior Carlyle professionals and employees) pursuant to the terms of their capital commitments to those funds and vehicles;
(b)
the amount of aggregate collateral balance and principal cash at par or aggregate principal amount of the notes of our CLOs and other structured products (inclusive of all positions);
(c)
the net asset value (pre-redemptions and subscriptions) of our open-ended funds; and
(d)
the gross assets (including assets acquired with leverage) of our business development companies, plus the capital that Carlyle is entitled to call from investors in those vehicles pursuant to the terms of their capital commitments to those vehicles.
We include in our calculation of AUM and Fee-earning AUM certain energy and renewable resources funds that we jointly advise with Riverstone Holdings L.L.C. (“Riverstone”) and the NGP Predecessor Funds and NGP Carry Funds (collectively, the “NGP Energy Funds”) that are advised by NGP.

3


For most of our carry funds, total AUM includes the fair value of the capital invested, whereas Fee-earning AUM includes the amount of capital commitments or the remaining amount of invested capital, depending on whether the original investment period for the fund has expired. As such, Fee-earning AUM may be greater than total AUM when the aggregate fair value of the remaining investments is less than the cost of those investments.
Our calculations of AUM and Fee-earning AUM may differ from the calculations of other asset managers. As a result, these measures may not be comparable to similar measures presented by other asset managers. In addition, our calculation of AUM (but not Fee-earning AUM) includes uncalled commitments to, and the fair value of invested capital in, our investment funds from Carlyle and our personnel, regardless of whether such commitments or invested capital are subject to management fees, incentive fees or performance allocations. Our calculations of AUM or Fee-earning AUM are not based on any definition of AUM or Fee-earning AUM that is set forth in the agreements governing the investment funds that we manage or advise.

4


PART I – FINANCIAL INFORMATION
 
Item 1.         Financial Statements
The Carlyle Group Inc.
Condensed Consolidated Balance Sheets
(Dollars in millions)
 
March 31,
2020
 
December 31,
2019
 
(Unaudited)
 
 
Assets
 
 
 
Cash and cash equivalents
$
1,007.9

 
$
793.4

Cash and cash equivalents held at Consolidated Funds
170.9

 
122.4

Restricted cash
0.6

 
34.6

Investments, including accrued performance allocations of $2,752.1 million and $3,855.6 million as of March 31, 2020 and December 31, 2019, respectively
5,391.1

 
6,804.4

Investments of Consolidated Funds
4,465.3

 
5,007.3

Due from affiliates and other receivables, net
228.0

 
273.9

Due from affiliates and other receivables of Consolidated Funds, net
88.8

 
74.4

Fixed assets, net
120.6

 
108.2

Lease right-of-use assets, net
194.2

 
203.8

Deposits and other
54.4

 
54.0

Intangible assets, net
58.3

 
62.3

Deferred tax assets
304.5

 
270.1

Total assets
$
12,084.6

 
$
13,808.8

Liabilities and equity
 
 
 
Debt obligations
$
2,188.3

 
$
1,976.3

Loans payable of Consolidated Funds
4,196.3

 
4,706.7

Accounts payable, accrued expenses and other liabilities
301.6

 
354.9

Accrued compensation and benefits
1,773.3

 
2,496.5

Due to affiliates
456.1

 
542.1

Deferred revenue
296.3

 
71.0

Deferred tax liabilities
36.4

 
65.2

Other liabilities of Consolidated Funds
471.0

 
316.1

Lease liabilities
273.8

 
288.2

Accrued giveback obligations
22.4

 
22.2

Total liabilities
10,015.5

 
10,839.2

Commitments and contingencies


 


Partners’ capital (common units, 117,840,651 issued and outstanding as of December 31, 2019)

 
703.8

Common stock, $0.01 par value, 100,000,000,000 shares authorized (348,358,623 shares issued and outstanding as of March 31, 2020)
3.5

 

Additional paid-in-capital
2,569.0

 

Retained earnings (deficit)
(612.0
)
 

Accumulated other comprehensive loss
(95.1
)
 
(85.2
)
Non-controlling interests in consolidated entities
203.7

 
333.5

Non-controlling interests in Carlyle Holdings

 
2,017.5

Total equity
2,069.1

 
2,969.6

Total liabilities and equity
$
12,084.6

 
$
13,808.8

See accompanying notes.

5


The Carlyle Group Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(Dollars in millions, except share and per share data)
 
Three Months Ended
March 31,
 
2020

2019
Revenues
 
 
 
Fund management fees
$
355.9

 
$
353.4

Incentive fees
8.9

 
8.1

Investment income (loss)
 
 
 
Performance allocations
(937.6
)
 
349.1

Principal investment income (loss)
(253.3
)
 
301.8

Total investment income (loss)
(1,190.9
)
 
650.9

Interest and other income
27.4

 
22.2

Interest and other income of Consolidated Funds
53.0

 
52.4

Total revenues
(745.7
)
 
1,087.0

Expenses
 
 
 
Compensation and benefits
 
 
 
Cash-based compensation and benefits
204.3

 
210.5

Equity-based compensation
29.1

 
36.0

Performance allocations and incentive fee related compensation
(442.5
)
 
185.4

Total compensation and benefits
(209.1
)
 
431.9

General, administrative and other expenses
69.6

 
112.5

Interest
23.9

 
19.7

Interest and other expenses of Consolidated Funds
45.6

 
38.1

Other non-operating expenses
0.2

 
0.3

Total expenses
(69.8
)
 
602.5

Other income (loss)
 
 
 
Net investment losses of Consolidated Funds
(113.1
)
 
(14.2
)
Income (loss) before provision for income taxes
(789.0
)
 
470.3

Provision (benefit) for income taxes
(80.0
)
 
24.0

Net income (loss)
(709.0
)
 
446.3

Net loss attributable to non-controlling interests in consolidated entities
(97.0
)
 
(4.5
)
Net income (loss) attributable to Carlyle Holdings
(612.0
)
 
450.8

Net income attributable to non-controlling interests in Carlyle Holdings

 
307.9

Net income (loss) attributable to The Carlyle Group Inc.
(612.0
)
 
142.9

Net income attributable to Series A Preferred Unitholders

 
5.9

Net income (loss) attributable to The Carlyle Group Inc. Common Stockholders
$
(612.0
)
 
$
137.0

Net income (loss) attributable to The Carlyle Group Inc. per common share (see Note 11)
 
 
 
Basic
$
(1.76
)
 
$
1.25

Diluted
$
(1.76
)
 
$
1.18

Weighted-average common shares
 
 
 
Basic
348,239,759

 
109,210,460

Diluted
348,239,759

 
115,818,538

Substantially all revenue is earned from affiliates of the Company. See accompanying notes.

6


The Carlyle Group Inc.
Condensed Consolidated Statements of Comprehensive Income
(Unaudited)
(Dollars in millions)
 
 
Three Months Ended
March 31,
 
2020
 
2019
Net income (loss)
$
(709.0
)
 
$
446.3

Other comprehensive income (loss)
 
 
 
Foreign currency translation adjustments
(22.9
)
 
1.9

Unrealized gains (losses) on Fortitude Re available-for-sale securities
(7.7
)
 
5.6

Defined benefit plans
 
 
 
Unrealized gain (loss) for the period
(3.2
)
 
1.7

Less: reclassification adjustment for gain during the period, included in cash-based compensation and benefits expense
0.4

 
0.3

Other comprehensive income (loss)
(33.4
)

9.5

Comprehensive income (loss)
(742.4
)
 
455.8

Comprehensive loss attributable to non-controlling interests in consolidated entities
(109.7
)
 
(4.2
)
Comprehensive income (loss) attributable to Carlyle Holdings
(632.7
)
 
460.0

Comprehensive income attributable to non-controlling interests in Carlyle Holdings

 
314.0

Comprehensive income (loss) attributable to The Carlyle Group Inc.
$
(632.7
)
 
$
146.0

See accompanying notes.


7


The Carlyle Group Inc.
Condensed Consolidated Statements of Changes in Equity
(Unaudited)
(Dollars and shares in millions)

 
Common
Units
 
Common Shares
 
Partners’
Capital
 
Common Stock
 
Additional Paid-in-Capital
 
Retained Earnings (Deficit)
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Non-
controlling
Interests in
Consolidated
Entities
 
Non-
controlling
Interests in
Carlyle
Holdings
 
Total
Equity
Balance at December 31, 2019
117.8

 

 
$
703.8

 
$

 
$

 
$

 
$
(85.2
)
 
$
333.5

 
$
2,017.5

 
$
2,969.6

Reclassification resulting from Conversion - Partners' Capital
(117.8
)
 
117.8

 
(703.8
)
 
1.2

 
702.6

 

 

 

 

 

Reclassification resulting from Conversion - Non-controlling Interest in Carlyle Holdings

 
229.4

 

 
2.3

 
2,015.2

 

 

 

 
(2,017.5
)
 

Shares repurchased

 
(1.1
)
 

 

 
(26.4
)
 

 

 

 

 
(26.4
)
Tax effects resulting from Conversion

 

 

 

 
(64.4
)
 

 
10.8

 

 

 
(53.6
)
Equity-based compensation

 

 

 

 
29.4

 

 

 

 

 
29.4

Shares issued for equity-based awards

 
2.3

 

 

 

 

 

 

 

 

Contributions

 

 

 

 

 

 

 
4.2

 

 
4.2

Distributions

 

 

 

 
(87.4
)
 

 

 
(24.3
)
 

 
(111.7
)
Net loss

 

 

 

 

 
(612.0
)
 

 
(97.0
)
 

 
(709.0
)
Currency translation adjustments

 

 

 

 

 

 
(10.2
)
 
(12.7
)
 

 
(22.9
)
Unrealized loss on Fortitude Re available-for-sale securities

 

 

 

 

 

 
(7.7
)
 

 

 
(7.7
)
Defined benefit plans, net

 

 

 

 

 

 
(2.8
)
 

 

 
(2.8
)
Balance at March 31, 2020

 
348.4

 
$

 
$
3.5

 
$
2,569.0

 
$
(612.0
)
 
$
(95.1
)
 
$
203.7

 
$

 
$
2,069.1



 
Common
Units
 
Preferred Equity
 
Partners’
Capital
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Non-
controlling
Interests in
Consolidated
Entities
 
Non-
controlling
Interests in
Carlyle
Holdings
 
Total
Partners’
Capital
Balance at December 31, 2018
107.7

 
$
387.5

 
$
673.4

 
$
(83.3
)
 
$
324.2

 
$
1,534.5

 
$
2,836.3

Reallocation of ownership interests in Carlyle Holdings

 

 
13.3

 
(1.1
)
 

 
(12.2
)
 

Exchange of Carlyle Holdings units for common units
0.2

 

 
1.4

 
(0.2
)
 

 
(1.2
)
 

Units repurchased
(0.6
)
 

 
(10.4
)
 

 

 

 
(10.4
)
Deferred tax effects resulting from acquisition of interests in Carlyle Holdings

 

 
0.1

 

 

 

 
0.1

Equity-based compensation

 

 
12.0

 

 

 
25.4

 
37.4

Issuances of common units for equity-based awards
2.8

 

 

 

 

 

 

Contributions

 

 

 

 
2.2

 

 
2.2

Distributions

 
(5.9
)
 
(47.4
)
 

 
(32.2
)
 
(99.4
)
 
(184.9
)
Net income

 
5.9

 
137.0

 

 
(4.5
)
 
307.9

 
446.3

Cumulative effect adjustment upon adoption of ASU 2016-2

 

 
(0.2
)
 

 

 
(0.5
)
 
(0.7
)
Currency translation adjustments

 

 

 
0.7

 
0.3

 
0.9

 
1.9

Unrealized gains on Fortitude Re available-for-sale securities