Carlyle Group generated $5.7 billion in realised proceeds from its Global Private Equity business in the third quarter of 2026, with the $720 million sale of a stake in Japanese scientific equipment maker Rigaku among several significant exits during the period.
The Rigaku transaction involved the sale of a 27% stake to US-based Onto Innovation. The deal was completed on August 10, with Onto acquiring 61.1 million existing shares from a Carlyle-affiliated vehicle.
The $720 million disposal accounted for about 13% of Carlyle’s Global Private Equity realisations in the quarter. Carlyle acquired an approximately 80% stake in Rigaku in 2021 through its fourth Japan buyout fund, Carlyle Japan Partners IV, partnering with the company’s then management, who retained a roughly 20% holding. The portfolio subsequently went public in a 2024 IPO that raised 129 billion yen (863 million) in 2024.
Tokyo-based Rigaku makes analytical and metrology instruments, primarily using X-ray technology, for applications ranging from semiconductor manufacturing to pharmaceuticals and advanced materials.
Other notable exits included Camino Natural Resources Holdings, an energy platform investment; Tescan Group, held in Carlyle’s European technology funds; and VaroPreem, part of its international energy funds.
Carlyle’s Global Private Equity business generated $23.6 billion in realised proceeds over the 12 months to September 2026.
Across the firm, realised proceeds from carry funds totalled $8.8 billion in the third quarter, including $1.5 billion from global credit and $1.6 billion from Carlyle AlpInvest. Over the 12 months to September 30, proceeds from carry funds reached $39.6 billion, up 23% from the preceding 12-month period.
Carlyle had $479 billion in assets under management at the end of September, up 1% year on year. Fee-earning assets under management stood at $330 billion, down 1%, while available capital rose 5% to $94 billion.
