Carlyle

Q2 FY2026 EarningsQ2 FY26 delivered a strong beat on the top line and Distributable Earnings (DE), with revenue of $1,123.5M exceeding the $910.26M consensus by 23.4%. While GAAP EBIT of $273.8M missed the $429.58M target due to unrealized performance allocation reversals in Global Private Equity, DE of $472.3M was significantly above expectations. The beat was driven by a surge in transaction and capital markets fees ($110.5M) and robust growth in Fee Related Earnings (FRE), which rose 11% YoY to $357.7M. Total AUM reached a record $485.5B, supported by $16.8B in quarterly inflows.