Performance Watch: How Carlyle’s PE vehicles fared in Q2 2020

We examine the investment giant's private equity funds in a special series of PEI's Performance Watch.

The latest quarterly reporting from private equity’s listed giants sheds light on how the asset class is recovering from pandemic-related turmoil last quarter.

We examine Carlyle Group’s private equity funds in the return of a special series of Private Equity International’s Performance Watch, which compares the firm’s Q2 2020 figures with those from the prior two quarters.

The Washington, DC-headquartered firm’s corporate private equity appreciated 13 percent in the second quarter as public markets rebounded and credit spreads tightened.

“We’ve had real fortune with respect to some of the public companies that we’ve been able to take public, as well as some of the existing ones, chief financial officer Curt Buser said on an earnings call last Thursday. “They’ve not only performed well, but the market has appreciated by and large.”

ZoomInfo Technologies was one of Carlyle’s biggest drivers of performance in Q2, raising nearly $1 billion in a June initial public offering. As of Wednesday, the stock was trading at more than double its $21 listing price.

Kewsong Lee, who takes over as sole chief executive in September, also credited the firm’s “thoughtful” portfolio construction in helping drive fund performance.

The interactive charts below depict seven of the firm’s private equity fund families based on its two previous quarterly earnings reports. The bubbles are sized proportionately to the size of the fund; toggle between the tabs to see how their performance differed between quarters.