Business Context and Reporting Period
This Form 13F-HR is filed by Carlyle Group Inc. for the quarter ended March 31, 2020. The filing represents a 13F Combination Report, covering holdings managed by 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.
Note: On January 1, 2020, The Carlyle Group L.P. converted into a Delaware corporation named The Carlyle Group Inc. Additionally, AlpInvest Partners B.V. is an affiliated adviser, though Carlyle does not participate in its investment decisions. Shared investment discretion exists with Riverstone Holdings LLC for specific securities.
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 portfolio metrics are disclosed:
- Total Portfolio Value: $2,359,658,000 (reported in thousands).
- Total Number of Holdings: 14 entries.
- Number of Included Managers: 3 (excluding the primary filer).
Operational Metrics: The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity figures for Carlyle Group Inc. itself.
Material Changes and Portfolio Composition
The filing lists 14 specific equity positions. While the text provided does not contain a comparative table of changes versus the prior period, it notes the following structural details:
- Shared Discretion: Full amounts for Enviva Partners LP, Liberty Oilfield Services Inc., and Talos Energy Inc. are reported by both Carlyle Group Inc. and Riverstone Holdings LLC due to shared investment discretion.
- Exclusions: Holdings managed solely by AlpInvest Partners B.V. are not included in this report as Carlyle does not participate in their decision-making.
Guidance, Risks, and Contingencies
This filing type does not contain management guidance, outlook, or operational risk commentary. The only contingencies or notes disclosed are:
- Corporate Structure Change: Confirmation of the conversion from a limited partnership to a corporation effective January 1, 2020.
- Reporting Scope: Clarification that this is a combination report, meaning some holdings are reported by other managers.
Investor Verification Checklist
- Verify the total portfolio value of $2.36 billion against the 14 listed holdings to ensure completeness.
- Confirm the impact of the January 1, 2020 corporate conversion on the reporting entity's legal status.
- Review the specific holdings for Enviva Partners LP, Liberty Oilfield Services Inc., and Talos Energy Inc. to understand the shared discretion arrangement with Riverstone Holdings LLC.
- Note that this filing does not provide operational financial data (revenue, earnings, debt); refer to 10-Q or 10-K filings for those metrics.