Carlyle Group Crushing Its Peers 9-5-25

Summary

---

Becker Business Podcast: "Carlyle Group Crushing Its Peers 9-5-25"

Host: Scott Becker
Date: September 5, 2025

---

Episode Overview

In this brief but insightful episode, Scott Becker discusses the extraordinary performance of the Carlyle Group compared to its closest competitors in the alternative asset management industry. The focus is on year-to-date performance figures, strategic moves by Carlyle, and what sets them apart from rival firms like Blackstone, KKR, and Apollo Group.

---

Key Discussion Points and Insights

1. Carlyle Group’s Standout Performance

• Main Point: Carlyle Group is outperforming its major private equity peers by a wide margin in 2025.
• Performance Stats:
  • Carlyle is up 28% year to date.
  • Competitors Blackstone, KKR, and Apollo Group are all down YTD.
• Notable Quote:

  "Carlyle, in contrast, is up 28% year to date, while the rest of those are down..."
  (Scott Becker, 00:46)

2. Size and Resources

• Assets Under Management:
  • Carlyle handles approximately $465 billion in assets under management.
  • Holds $84 billion in dry powder, giving it significant liquidity and flexibility for investments.

3. Strategic Shifts in Business Model

• Diversification:
  • Like its competitors, Carlyle has expanded beyond traditional private equity.
  • Emphasized shift away from “just straight private equity,” a trend also seen with Blackstone and Apollo.
• Secondary Market Focus:
  • The group has "doubled down" on the secondary market, specifically buying stakes in assets held by other private equity funds.
• Notable Quote:

  "It's doubled down on the secondary market, you know, buying stakes and things that other PE funds hold."
  (Scott Becker, 01:12)

4. Management Quality

• Leadership Mentioned as Key Differentiator:
  • Becker attributes much of Carlyle’s outperformance to strong management.

---

Notable Quotes & Memorable Moments

• On Outperformance:

  "Carlyle Group crushing its peers. I didn't know that. I saw that coming, but really outperform."
  (Scott Becker, 01:24)

---

Important Timestamps

• 00:31 — Episode begins with Scott Becker outlining the discussion topic: Carlyle Group’s outperformance.
• 00:46 — Performance comparison between Carlyle and its major peers.
• 01:12 — Discussion of Carlyle's strategic focus on the secondary market.
• 01:24 — Becker’s own surprise at Carlyle’s lead and closing remarks.

---

Summary & Takeaways

Scott Becker spotlights the Carlyle Group's exceptional year-to-date gains in a challenging market where major alternative asset managers are experiencing negative returns. Strategic diversification into the secondary market, robust dry powder reserves, and “great management” are cited as the main factors behind Carlyle’s surprising and commanding lead. Becker’s tone is one of surprise and admiration, making this a noteworthy episode for anyone following private equity trends.

---

Transcript

[A]

Onward headhunting is the source for elite M and A operations and finance executive talent exclusively for private equity funds and their high growth portfolio companies. When top tier leadership seems impossible to find, Onward delivers with speed and accuracy. This is retained search built to shape the future of your most important assets. Learn more on LinkedIn or visit onwardheadhunting.com to start the conversation. And let's move your most critical executive searches onward.

[B]

This is Scott Becker with the Becker Business Podcast. The Becker Private Equity Podcast. Today's discussion is Carlisle Group crushing its peers? So here's what's going on with Carlisle Group. Carlisle Group is one of the biggest alternative asset managers. Its peers are Blackstone, kkr, Apollo Group. All of those are down year to date. Carlyle, in contrast, is up 28% year to date, while the rest of those are down has about 465 billion in the assets under management, 84 billion in dry powder. Different than the other three big, big PE alternative asset managers. It's moved away from a lot of just straight private equity, but so has Blackstone and so has Apollo Group and just knock it out of the park. It's doubled down on the secondary market, you know, buying stakes and things that other PE funds hold. It also has great management. So again, Carlyle Group crushing its peers. I didn't know that. I saw that coming, but really outperform. Thank you for listening to the Becker Business Podcast. The Becker Private Equity Podcast. Thank you very much.