Business Context and Reporting Period
This Form 13F-HR is filed by Carlyle Group Inc. for the quarter ended December 31, 2019. The filing was signed on February 13, 2020. An explanatory note indicates that on January 1, 2020, The Carlyle Group L.P. converted into a Delaware corporation named The Carlyle Group Inc. The report is a combination report, covering holdings for Carlyle Group Inc. and three other included managers: Carlyle Investment Management LLC, CIM Global, L.L.C., and Carlyle Global Credit Investment Management L.L.C.
Key Financial Metrics
As a Form 13F filing, this document reports equity holdings rather than the company's operational financial performance (revenue, profit, cash flow, or debt). The following metrics are reported regarding the portfolio:
- Total Portfolio Value: $1,510,510,000 (reported as 1,510,510 in thousands).
- Total Number of Holdings: 12 entries.
- Number of Other Included Managers: 3.
Note: The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity for Carlyle Group Inc. itself.
Material Changes and Disclosures
The filing does not provide comparative data against the prior period to determine material changes in holdings value or composition. However, the following structural and operational disclosures are noted:
- Corporate Conversion: The entity converted from a limited partnership to a corporation effective January 1, 2020.
- Shared Discretion: Investment advisers affiliated with The Carlyle Group Inc. and Riverstone Holdings LLC exercise shared investment discretion over Enviva Partners LP and Liberty Oilfield Services Inc. Consequently, the full amount of these holdings is reported by both entities.
- AlpInvest Partners: AlpInvest Partners B.V. is an indirectly wholly owned investment adviser, but The Carlyle Group Inc. does not participate in its investment decision-making.
Guidance, Outlook, and Risks
This filing type does not contain management commentary, forward-looking guidance, or specific risk factors regarding the company's future operations. The standard SEC disclaimer applies: the Commission has not reviewed the information for accuracy or completeness.
Investor Verification Checklist
- Verify the impact of the January 1, 2020, conversion from a limited partnership to a corporation on the company's capital structure and tax status.
- Confirm the specific breakdown of the $1.51 billion portfolio value across the 12 reported holdings to understand concentration risk.
- Review the separate 13F filings for Riverstone Holdings LLC to understand the full scope of shared discretion holdings (Enviva Partners LP and Liberty Oilfield Services Inc.).
- Check subsequent 13F filings to track changes in the portfolio composition following the reporting period.