Michael Cyprys's questions to Carlyle Group Inc (CG) leadership • Q1 2025
Question
In a follow-up, Michael Cyprys sought clarification on whether the large reinsurance transactions with Fortitude were included in the firm's $40 billion annual fundraising target and 6% FRE growth outlook.
Answer
CFO John Redett confirmed that the firm's $40 billion target is an 'inflow' number, and therefore it does include the capital flows from the Fortitude reinsurance transactions. He pointed to the $14 billion of inflows in Q1 and $50 billion over the last twelve months as evidence of strong fundraising capability.