Carlyle Group has reported stronger-than-expected third-quarter earnings as an acceleration in private equity exits boosted realised investment gains and capital distributions, according to a report by Reuters.

The alternative asset manager reportedly generated distributable earnings of $1.12 per share for the three months to September, exceeding analysts' expectations of $1. Realised net performance revenue increased to $99.8m from $19.1m a year earlier, reflecting a recovery in investment monetisations following a prolonged slowdown in private equity exits.

Carlyle completed the sale of electron microscope manufacturer Tescan Group and sold a 27% stake in Japanese testing equipment maker Rigaku during the quarter. The firm has also  reportedly signed nearly $6bn of additional exits expected to complete in the fourth quarter. Chief executive Harvey Schwartz said Carlyle had returned almost $100bn to investors since the beginning of 2024.

Capital inflows totalled $10.8bn in the quarter, driven primarily by credit strategies, while deployment reached $11bn. Carlyle expects at least $20bn of inflows in the fourth quarter, supported by a reinsurance transaction with Unum Group. However, fee-related earnings declined 6% to $293m, highlighting continued pressure on recurring profitability.