Carlyle targets $200 billion in new flows by 2028, touts Washington connections

Core Viewpoint - Carlyle aims to raise $200 billion in new capital by the end of 2028, enhancing earnings from managing this capital, following a turnaround led by CEO Harvey Schwartz [1][2] Financial Performance - Carlyle's fourth-quarter earnings slightly exceeded analysts' expectations, driven by income from its private equity arm and gains in credit and secondaries [3] - The firm reported that its latest private equity fund has returned 70% of investors' capital [3] Future Targets - The targeted capital inflows of $200 billion would surpass the $158 billion raised between 2023 and 2025, with total assets under management at approximately $477 billion [4] - Projected fee-related earnings are expected to reach $1.9 billion by 2028, up from $1.2 billion in 2025, with distributed earnings per common share anticipated to exceed $6 in 2028 compared to $4.02 in 2025 [5] Strategic Advantages - Carlyle's location in Washington, D.C. is seen as a strategic advantage for investing in aerospace and defense, leveraging its 40-year history and relationships with policymakers [7] - The firm is positioned to benefit from rising global defense spending, which is considered one of its core investment areas [7]