Carlyle Investor Day Presentation Deck
Attractive Industry Returns Support Strong Growth
DIRECT LENDING OUTPERFORMS
WITH LOWER LOSSES²
GLOBAL BUYOUT &
GROWTH OUTPERFORMANCE'
12.1%
NET IRR VS INDEX
INVESTOR DAY 2021
+477
bps
7.4%
10-Year
Avg P/E Index
11.4%
+672
bps
4.7%
20-Year
Avg Public Equity Index
10.7%
CURRENT YIELD %
Direct Lending Index
2.0%
DEFAULT RATE
Direct Lending Index
6.9%
High Yield Index
3.6%
High Yield Index
7.2%
ATTRACTIVE REAL
ESTATE RETURNS3
1. Cambridge Associates, Buyout & Growth Equity Index and Selected Benchmark Statistics; March 31, 2020.
2. Cliffwater Direct Lending Index YT3. Bloomberg Barclays High Yield Index YTW.
3. Cambridge Associates, National Council of RE Invest Fiduciaries.
There is no assurance that this trend will continue. Please see the "Important Information" slide for more information about the comparison of our investment returns to various indexes.
NET IRR VS INDEX
+41
bps
6.8%
5-Year
10.5%
+80
bps
9.7%
10-Year
Private Real Estate Index
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