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Investments (Tables)
 9 Months Ended
Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of investments
Investments consist of the following: 
 
As of
 
September 30, 2016
 
December 31, 2015
 
(Dollars in millions)
Equity method investments, excluding accrued performance fees
$
960.7

 
$
876.6

Investments in CLOs and other (1)
157.8

 
9.3

Total investments
$
1,118.5

 
$
885.9



(1) As a result of the adoption of ASU 2015-2 and the deconsolidation of certain CLOs on January 1, 2016, investments that the Partnership held in those CLOs are no longer eliminated in consolidation and are now included in investments in CLOs and other above.
Schedule of net investment earnings (loss)
The net investment earnings (loss) recognized in the Partnership’s condensed consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 were as follows:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
(Dollars in millions)
Management fees
$
20.9

 
$
14.5

 
$
62.1

 
$
41.4

Performance fees
37.9

 
(3.4
)
 
47.6

 
(18.5
)
Investment income (loss)
6.4

 
(2.0
)
 
10.8

 
(2.5
)
Expenses and amortization of basis differences
(17.9
)
 
(15.3
)
 
(52.1
)
 
(53.1
)
Net investment income (loss)
$
47.3

 
$
(6.2
)
 
$
68.4

 
$
(32.7
)
Schedule of equity method investments
The Partnership’s equity method investments include its fund investments in Corporate Private Equity, Global Market Strategies, Real Assets, and Investment Solutions, typically as general partner interests, and its strategic investment in NGP Management (included within Real Assets), which are not consolidated. Investments are related to the following segments:
 
 
As of
 
September 30, 2016
 
December 31, 2015
 
(Dollars in millions)
Corporate Private Equity
$
285.3

 
$
254.5

Global Market Strategies
24.6

 
26.7

Real Assets
625.7

 
592.7

Investment Solutions
25.1

 
2.7

Total
$
960.7

 
$
876.6
Components of investment income (loss)
The components of investment income (loss) are as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
(Dollars in millions)
Income (loss) from equity investments
$
65.9

 
$
(14.7
)
 
$
116.3

 
$
1.5

Income (loss) from investments in CLOs
4.6

 
(1.3
)
 
9.6

 
(1.5
)
Other investment income
—

 
6.5

 
0.3

 
6.5

Total
$
70.5

 
$
(9.5
)
 
$
126.2

 
$
6.5
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 condensed consolidated statements of operations and consists of:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
(Dollars in millions)
Corporate Private Equity
$
13.5

 
$
(10.0
)
 
$
32.0

 
$
20.2

Global Market Strategies
(0.5
)
 
(1.3
)
 
(5.5
)
 
(0.4
)
Real Assets
52.5

 
(3.4
)
 
89.9

 
(19.3
)
Investment Solutions
0.4

 
—

 
(0.1
)
 
1.0

Total
$
65.9

 
$
(14.7
)
 
$
116.3

 
$
1.5
Components of interest and other income of consolidated funds
The components of interest and other income of Consolidated Funds are as follows:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
(Dollars in millions)
Interest income from investments
$
40.0

 
$
219.0

 
$
101.6

 
$
654.7

Other income
3.0

 
40.4

 
6.2

 
88.0

Total
$
43.0

 
$
259.4

 
$
107.8

 
$
742.7
Components of net investment gains (losses) of consolidated funds
The components of net investment gains (losses) of Consolidated Funds are as follows: 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
(Dollars in millions)
Gains (losses) from investments of Consolidated Funds
$
18.6

 
$
(337.8
)
 
$
45.0

 
$
738.1

Gains (losses) from liabilities of CLOs
(15.9
)
 
306.6

 
(43.8
)
 
197.0

Gains (losses) on other assets of CLOs
2.1

 
(0.1
)
 
1.9

 
0.7

Total
$
4.8

 
$
(31.3
)
 
$
3.1

 
$
935.8
Schedule of realized and unrealized gains (losses) earned from investments of consolidated funds
The following table presents realized and unrealized gains (losses) earned from investments of the Consolidated Funds:
 
Three Months Ended 
 September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
(Dollars in millions)
Realized gains (losses)
$
—

 
$
433.8

 
$
(9.6
)
 
$
867.9

Net change in unrealized gains (losses)
18.6

 
(771.6
)
 
54.6

 
(129.8
)
Total
$
18.6

 
$
(337.8
)
 
$
45.0

 
$
738.1