As of September 30, 2024, The Carlyle Group Inc. reported total assets of $22,658.4 million, reflecting an increase from $21,176.0 million as of December 31, 2023. Total liabilities also rose during this period, reaching $16,323.0 million, up from $15,391.5 million.
The company experienced a significant surge in net income for the three months ended September 30, 2024, reporting $615.7 million, a substantial increase compared to $111.0 million for the same period in 2023. For the nine months ended September 30, 2024, net income was $863.8 million, markedly higher than $173.6 million for the corresponding period in 2023.
Carlyle's revenue performance was notably strong, with total revenues for the three months ended September 30, 2024, amounting to $2,635.2 million, a dramatic rise from $716.6 million in the same period of the previous year. Fund management fees contributed to this growth, totaling $532.7 million, which represents a 6% increase from $502.6 million in the third quarter of 2023. Additionally, incentive fees saw a remarkable increase, rising to $38.7 million, an 83% jump from $21.1 million in the same quarter of 2023.
However, total compensation and benefits for the three months ended September 30, 2024, escalated to $1,480.1 million, compared to $278.1 million in the same period of 2023, indicating a significant rise in operational costs.
Accrued performance allocations also increased, totaling $7,210.8 million as of September 30, 2024, up from $6,169.9 million as of December 31, 2023. The company had 357,681,261 shares of common stock outstanding as of the reporting date.
Overall, Carlyle Group's financial performance for the third quarter of 2024 reflects substantial growth in net income and revenues, driven by increased management and incentive fees, despite a notable rise in compensation expenses.
About Carlyle Group Inc.
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