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Investments (Tables)
 12 Months Ended
Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of investments
Investments consist of the following:
 
As of December 31,
 
2015
 
2014
 
(Dollars in millions)
Equity method investments, excluding accrued performance fees
$
873.9

 
$
918.7

Trading securities and other investments
12.0

 
12.9

Total investments
$
885.9

 
$
931.6
Schedule of net investment earnings (loss)
The net investment earnings (loss) recognized in the Partnership’s consolidated statements of operations for the years ended December 31, 2015, 2014 and 2013 were as follows:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(Dollars in millions)
Management fees
$
53.9

 
$
56.8

 
$
63.2

Performance fees
(18.5
)
 
(39.2
)
 
—

Investment loss
(3.3
)
 
(2.2
)
 
—

Expenses and amortization of basis differences
(71.9
)
 
(74.7
)
 
(77.2
)
Net investment loss
$
(39.8
)
 
$
(59.3
)
 
$
(14.0
)
Schedule of equity method investments
Investments are related to the following segments:
 
 
As of December 31,
 
2015
 
2014
 
(Dollars in millions)
Corporate Private Equity
$
254.5

 
$
246.3

Global Market Strategies
26.7

 
25.3

Real Assets
592.7

 
647.1

Total
$
873.9

 
$
918.7
Partnership's equity method investees, summarized statement of income information
The summarized financial information of the Partnership’s equity method investees from the date of initial investment is as follows (Dollars in millions):
 




 

Aggregate Totals
 
Corporate
Private Equity

 Global
Market Strategies

Real Assets


For the Year Ended
December 31,

For the Year Ended
December 31,

For the Year Ended
December 31,

For the Year Ended
December 31,
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Statement of operations information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment income
$
380.7

 
$
528.3

 
$
699.7

 
$
193.6

 
$
193.5

 
$
199.3

 
$
441.2

 
$
1,114.7

 
$
1,034.6

 
$
1,015.5

 
$
1,836.5

 
$
1,933.6

Expenses
613.8

 
665.6

 
495.9

 
45.7

 
48.7

 
65.0

 
604.4

 
678.2

 
508.6

 
1,263.9

 
1,392.5

 
1,069.5

Net investment income (loss)
(233.1
)
 
(137.3
)
 
203.8

 
147.9

 
144.8

 
134.3

 
(163.2
)
 
436.5

 
526.0

 
(248.4
)
 
444.0

 
864.1

Net realized and unrealized gain (loss)
4,831.6

 
8,387.9

 
9,795.5

 
(323.1
)
 
247.0

 
305.2

 
(3,047.6
)
 
2,611.0

 
209.7

 
1,460.9

 
11,245.9

 
10,310.4

Net income (loss)
$
4,598.5

 
$
8,250.6

 
$
9,999.3

 
$
(175.2
)
 
$
391.8

 
$
439.5

 
$
(3,210.8
)
 
$
3,047.5

 
$
735.7

 
$
1,212.5

 
$
11,689.9

 
$
11,174.5
Partnership's equity method investees, summarized balance sheet information

Corporate
Private Equity

Global
Market Strategies

Real Assets

Aggregate Totals
 
As of December 31,

As of December 31,

As of December 31,

As of December 31,
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Balance sheet information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments
$
35,535.4

 
$
38,498.0

 
$
2,262.1

 
$
2,398.4

 
$
21,182.7

 
$
29,815.1

 
$
58,980.2

 
$
70,711.5

Total assets
$
39,489.9

 
$
41,636.9

 
$
2,604.0

 
$
2,542.2

 
$
22,393.2

 
$
31,009.3

 
$
64,487.1

 
$
75,188.4

Debt
$
281.5

 
$
276.3

 
$
176.6

 
$
67.3

 
$
1,512.5

 
$
1,042.9

 
$
1,970.6

 
$
1,386.5

Other liabilities
$
540.7

 
$
1,445.3

 
$
17.7

 
$
15.0

 
$
331.4

 
$
875.2

 
$
889.8

 
$
2,335.5

Total liabilities
$
822.2

 
$
1,721.6

 
$
194.3

 
$
82.3

 
$
1,843.9

 
$
1,918.1

 
$
2,860.4

 
$
3,722.0

Partners’ capital
$
38,667.7

 
$
39,915.3

 
$
2,409.7

 
$
2,459.9

 
$
20,549.3

 
$
29,091.2

 
$
61,626.7

 
$
71,466.4
Components of investment income (loss)
The components of investment income (loss) are as follows:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(Dollars in millions)
Income (loss) from equity investments
$
9.4

 
$
(8.3
)
 
$
14.2

Income (loss) from trading securities
(1.7
)
 
0.1

 
4.2

Other investment income
7.5

 
1.0

 
0.4

Total
$
15.2

 
$
(7.2
)
 
$
18.8
Schedule of income (loss) from equity-method investments
Carlyle’s income (loss) from its equity-method investments is included in investment income (loss) in the consolidated statements of operations and consists of:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(Dollars in millions)
Corporate Private Equity
$
28.9

 
$
53.8

 
$
59.2

Global Market Strategies
(0.9
)
 
1.3

 
4.6

Real Assets
(18.6
)
 
(63.4
)
 
(49.6
)
Total
$
9.4

 
$
(8.3
)
 
$
14.2
Schedule of investments as a percentage of investments of consolidated funds
The table below presents investments as a percentage of investments of Consolidated Funds:
 
 
Fair Value
 
Percentage of Investments of
Consolidated Funds
 
 
Geographic Region/Instrument Type/ Industry
December 31,
 
December 31,
 
Description or Investment Strategy
2015
 
2014
 
2015
 
2014
 
 
(Dollars in millions)
 
 
 
 
 
United States
 
 
 
 
 
 
 
 
Equity securities:

 

 

 

 
Commercial & Professional Services
$
0.2

 
$
201.3

 
—
%
 
0.77
%
 
Diversified Financials
290.2

 
264.4

 
1.21
%
 
1.02
%
 
Food, Beverage & Tobacco
—

 
414.0

 
—
%
 
1.59
%
 
Media
69.3

 
97.3

 
0.29
%
 
0.37
%
 
Health Care Equipment & Services
71.7

 
100.9

 
0.30
%
 
0.39
%
 
Consumer Services
38.6

 
67.7

 
0.16
%
 
0.26
%
 
Capital Goods
0.6

 
60.3

 
—
%
 
0.23
%
 
Software & Services
65.4

 
38.9

 
0.27
%
 
0.15
%
 
Transportation
3.1

 
49.6

 
0.01
%
 
0.19
%
 
Food & Staples Retailing
—

 
30.9

 
—
%
 
0.12
%
 
Consumer Durables & Apparel
50.6

 
7.6

 
0.21
%
 
0.03
%
 
Other
1.1

 
0.9

 
—
%
 
—
%
 
Total equity securities (cost of $833.0 and $1,337.9 at
December 31, 2015 and 2014, respectively)
590.8

 
1,333.8

 
2.45
%
 
5.12
%
 
Partnership and LLC interests:

 

 

 

 
Fund Investments (cost of $1,784.7 and $2,154.3 at
December 31, 2015 and 2014, respectively)
1,889.3

 
2,188.5

 
7.87
%
 
8.41
%
 
Loans:

 

 

 

 
Retailing
6.8

 
109.1

 
0.03
%
 
0.42
%
 
Diversified Financials
—

 
6.7

 
—
%
 
0.03
%
 
Commercial & Professional Services
0.1

 
31.1

 
—
%
 
0.12
%
 
Materials
0.6

 
32.5

 
—
%
 
0.12
%
 
Transportation
—

 
27.8

 
—
%
 
0.11
%
 
Other
5.9

 
4.3

 
0.03
%
 
0.02
%
 
Total loans (cost of $83.6 and $260.7 at
December 31, 2015 and 2014, respectively)
13.4

 
211.5

 
0.06
%
 
0.82
%
 
Total investment in Hedge Funds
2,841.2

 
3,753.5

 
11.84
%
 
14.42
%
 
Assets of the CLOs

 

 

 

 
Bonds
50.6

 
141.8

 
0.21
%
 
0.54
%
 
Equity
2.3

 
6.5

 
0.01
%
 
0.02
%
 
Loans
11,241.0

 
10,203.3

 
46.84
%
 
39.20
%
 
Total assets of the CLOs (cost of $11,658.3 and $10,413.0 at
December 31, 2015 and 2014, respectively)
11,293.9

 
10,351.6

 
47.06
%
 
39.76
%
 
Total United States
$
16,628.6

 
$
17,838.9

 
69.28
%
 
68.53
%

 
 
Fair Value
 
Percentage of Investments of
Consolidated Funds
Geographic Region/Instrument Type/ Industry
December 31,
 
December 31,
Description or Investment Strategy
2015
 
2014
 
2015
 
2014
 
(Dollars in millions)
 
 
 
 
Europe
 
 
 
 
 
 
 
Equity securities:
 
 
 
 
 
 
 
Food & Staples Retailing
57.9

 
$
350.4

 
0.24
%
 
1.35
%
Consumer Services
94.7

 
38.2

 
0.39
%

0.15
%
Energy
—

 
168.8

 
—
%
 
0.65
%
Retailing
95.7

 
119.4

 
0.40
%
 
0.46
%
Health Care Equipment & Services
81.0

 
97.8

 
0.34
%
 
0.38
%
Commercial & Professional Services
43.0

 
75.4

 
0.18
%
 
0.29
%
Transportation
—

 
88.8

 
—
%
 
0.34
%
Media
10.5

 
40.0

 
0.04
%
 
0.15
%
Other
35.8

 
32.5

 
0.15
%
 
0.12
%
Total equity securities (cost of $650.2 and $939.1 at
December 31, 2015 and 2014, respectively)
418.6

 
1,011.3

 
1.74
%
 
3.89
%
Partnership and LLC interests:

 
 
 

 
 
Fund Investments (cost of $694.3 and $840.9 at
December 31, 2015 and 2014, respectively)
640.6

 
800.0

 
2.67
%
 
3.07
%
Assets of the CLOs

 
 
 

 
 
Bonds
1,115.8

 
1,081.3

 
4.65
%
 
4.15
%
Equity
3.8

 
9.7

 
0.02
%
 
0.04
%
Loans
3,837.4

 
4,208.5

 
15.99
%
 
16.17
%
Other
5.0

 
1.5

 
0.02
%
 
0.01
%
Total assets of the CLOs (cost of $5,048.3 and $5,429.1 at
December 31, 2015 and 2014, respectively)
4,962.0

 
5,301.0

 
20.68
%
 
20.37
%
Total Europe
$
6,021.2

 
$
7,112.3

 
25.09
%
 
27.33
%
Global

 
 
 

 
 
Equity securities:

 
 
 

 
 
Food, Beverage & Tobacco (cost of $77.0 and $85.6 at
December 31, 2015 and 2014, respectively)
$
126.2

 
$
110.8

 
0.53
%
 
0.43
%
Assets of the CLOs

 
 
 

 
 
Bonds
14.5

 
12.7

 
0.06
%
 
0.05
%
Loans
594.9

 
461.6

 
2.48
%
 
1.77
%
Total assets of the CLOs (cost of $643.7 and $480.6 at
December 31, 2015 and 2014, respectively)
609.4

 
474.3

 
2.54
%
 
1.82
%
Partnership and LLC interests:

 
 
 

 
 
Fund Investments (cost of $497.7 and $452.7 at
December 31, 2015 and 2014, respectively)
613.4

 
492.5

 
2.56
%
 
1.89
%
Total Global
$
1,349.0

 
$
1,077.6

 
5.63
%
 
4.14
%
Total investments of Consolidated Funds (cost of $21,987.8 and $22,393.9 at December 31, 2015 and 2014, respectively)
$
23,998.8

 
$
26,028.8

 
100.00
%
 
100.00
%
Components of interest and other income of consolidated funds
The components of interest and other income of Consolidated Funds are as follows:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(Dollars in millions)
Interest income from investments
$
873.1

 
$
864.9

 
$
876.8

Other income
102.4

 
91.1

 
166.3

Total
$
975.5

 
$
956.0

 
$
1,043.1
Components of net investment gains (losses) of consolidated funds
The components of net investment gains (losses) of Consolidated Funds are as follows:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(Dollars in millions)
Gains from investments of Consolidated Funds
$
426.2

 
$
857.7

 
$
1,390.5

Gains (losses) from liabilities of CLOs
436.5

 
27.2

 
(695.1
)
Gains on other assets of CLOs
1.7

 
2.1

 
1.3

Total
$
864.4

 
$
887.0

 
$
696.7
Schedule of realized and unrealized gains (losses) earned from investments of the consolidated funds
The following table presents realized and unrealized gains (losses) earned from investments of the Consolidated Funds:
 
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(Dollars in millions)
Realized gains
$
1,114.7

 
$
1,107.4

 
$
662.0

Net change in unrealized gains (losses)
(688.5
)
 
(249.7
)
 
728.5

Total
$
426.2

 
$
857.7

 
$
1,390.5