The Carlyle Group (NasdaqGS:CG) Q4 2025 Earnings call February 06, 2026 08:30 AM ET Company ParticipantsAlex Bloistein - Managing DirectorBrian McKenna - Director of Equity ResearchDaniel Harris - Head of Investor RelationsGlenn Schorr - Managing DirectorHarvey Schwartz - CEOJustin Plouffe - CFOMark Jenkins - Head of Global CreditMark Paolini - Investment Bank AssociateMichael Cyprys - Managing DirectorPatrick Davitt - PartnerSteven Chubak - Managing DirectorConference Call ParticipantsBen Budish - Equity R ...

Financial Data and Key Metrics Changes - 2025 was a record year for the company, with fee-related earnings (FRE) up 12% year-over-year, reaching a margin of 47% [4][15] - Total inflows amounted to $54 billion, significantly exceeding the original target of $40 billion, and representing a 32% increase year-over-year [4][16] - Distributable earnings (DE) for 2025 were $1.7 billion, or $4.02 per share, an 11% increase from the previous year [13][15] - Total fee revenues reached a record $2.6 billion for the full year, reflecting a 10% organic growth rate [15] Business Line Data and Key Metrics Changes - Carlyle AlpInvest generated a record $274 million of FRE for the year, up nearly 60% [17] - Global Credit delivered a record $402 million of FRE for 2025, up 21% from the prior year [18] - Global private equity realized over $18 billion of proceeds in 2025, the highest level in the past three years [19] Market Data and Key Metrics Changes - The company was the number 1 private equity sponsor globally by IPO proceeds, generating approximately $10 billion of IPO issuance over the past two years [5][6] - The IPO of Medline raised more than $7 billion, marking it as the largest sponsor-backed IPO of all time [6] - Direct lending had a record quarter of originations, with CLO inflows of $7 billion in 2025, up almost 20% from the prior year [9][10] Company Strategy and Development Direction - The company continues to focus on investment performance, disciplined capital allocation, and delivering long-term value for global investors and shareholders [11] - Strategic investments have been made in global wealth, insurance solutions, and asset-backed finance, with significant opportunities for continued growth [15] - The company plans to host a shareholder update to share multi-year financial targets and insights into its strategic direction [12] Management's Comments on Operating Environment and Future Outlook - Despite recent market volatility, management remains optimistic about the economic engine, citing strong January data indicating good GDP growth and EBITDA generation [25][26] - The company expects continued growth supported by a diversified fundraising pipeline and improving capital markets conditions [20] - Management acknowledges the complexity of the macro environment but believes it is generally constructive for deployment and realization activity [20] Other Important Information - The company returned a record $1.2 billion of capital to shareholders through dividends and share buybacks during 2025 [19] - The balance sheet remains strong, with $2 billion in cash and over $3 billion in investments [19] Q&A Session Summary Question: Thoughts on sustainability of monetization momentum into 2026 - Management is cautious about extrapolating recent market volatility but notes that January data looks promising for GDP growth and margins [25][26] Question: State of play in direct lending and credit - Management feels well-positioned in direct lending and has added key leaders to enhance origination and integration across private credit strategies [32][34] Question: Expectations for management fee growth in 2026 - Management will provide more details in the upcoming shareholder update but emphasizes the diversification in business mix driving success [52][78] Question: Outlook for CLOs in 2026 - The CLO business has performed well, and management expects another active year, although it may not reach the record levels of the past two years [83] Question: Steps to enhance originations in the credit business - The company has built a strong origination team and achieved record originations in 2025, with plans to continue leveraging its capabilities [88][90]

OneMain (NYSE:OMF) Q4 2025 Earnings call February 05, 2026 09:00 AM ET Company ParticipantsDouglas Shulman - Chairman and CEOJenny Osterhout - CFOJohn Hecht - Managing DirectorMoshe Orenbuch - Managing DirectorPeter Poillon - Head of Investor RelationsRicchard Shane - Managing DirectorConference Call ParticipantsArren Cyganovich - Research AnalystMark DeVries - Stock AnalystMihir Bhatia - Equity Research AnalystOperatorGood morning, everyone. Welcome to today's OneMain Financial fourth quarter 2025 earnings ...

Financial Performance - The company strengthened capital ratios over the past 12 months, with tangible common equity up 90 basis points and consolidated CET1 up 50 basis points year over year [1] - Tangible book value grew 17.3%, and the company initiated share repurchases for the first time in nearly six years while increasing its common stock dividend for the seventh consecutive year [1][7] - The fourth quarter showed strong momentum with loans up $168.4 million (11.1% annualized) and deposits up $191.7 million, with GAAP NIM rising to 3.71% [6][7] Operational Developments - The company completed two major core conversions and implemented multiple software platforms to support current and future operations [3][4] - The acquisition of Progressive Bank in North Louisiana was announced and closed at the turn of the year, alongside the expansion of a correspondent banking initiative to over 175 community bank clients [2][4] Profitability and Growth - The company delivered a 1.06% core ROAA for the year and a 14% increase in EPS, with a 20% year-over-year improvement in the fourth quarter [7] - Management expects to achieve over 1.2% ROA in 2026, with mid-single-digit organic loan growth targeted [5][20] Credit Quality - Credit metrics weakened primarily due to a single $25.8 million commercial real estate relationship, pushing non-performing loans (NPLs) to 1.24% [5][18] - Management believes any further loss from this credit will be immaterial and is focusing on moving the allowance toward ~1% over time [22] Future Outlook - The company plans to shift focus in 2026 from major implementations to optimizing systems and daily execution, while also deepening relationships and improving profitability [19][20] - Management will continue to evaluate share buybacks on a quarterly basis, having repurchased about 150,000 shares in the fourth quarter [21]

Hong Kong-based credit manager Flow Capital Partners has launched a new fund with a broader Asia focus, people familiar with the matter said https://t.co/ItwO99SSgX ...