The Carlyle Group Inc. (CG) 10-Q 3 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 28, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	Carlyle Group L.P.
Entity Central Index Key	1,527,166
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		84,578,736

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 1,043.3	$ 991.5
Cash and cash equivalents held at Consolidated Funds	174.1	1,612.7
Restricted cash	16.9	18.9
Restricted cash and securities of Consolidated Funds	0	18.4
Corporate treasury investments	95.1	0
Accrued performance fees	2,776.6	2,988.6
Investments	1,118.5	885.9
Investments of Consolidated Funds	3,390.9	23,998.8
Due from affiliates and other receivables, net	203.3	195.3
Due from affiliates and other receivables of Consolidated Funds, net	36.9	765.3
Receivables and inventory of a consolidated real estate VIE	131.6	143.6
Fixed assets, net	101.5	110.9
Deposits and other	39.9	49
Other assets of a consolidated real estate VIE	41.3	47.6
Intangible assets, net	106.6	135.7
Deferred tax assets	227.1	219.4
Total assets	9,503.6	32,181.6
Liabilities and partners’ capital
Debt obligations	1,277.2	1,135.7
Loans payable of Consolidated Funds	3,272	17,064.7
Loans payable of a consolidated real estate VIE at fair value (principal amount of $148.2 million and $125.6 million as of September 30, 2016 and December 31, 2015, respectively)	88.9	75.4
Accounts payable, accrued expenses and other liabilities	396.4	463.8
Accrued compensation and benefits	1,857.5	1,953.2
Due to affiliates	222.8	245.9
Deferred revenue	199.6	40.9
Deferred tax liabilities	88	103.5
Other liabilities of Consolidated Funds	200.3	1,838.6
Other liabilities of a consolidated real estate VIE	98.3	84.4
Accrued giveback obligations	224.4	252
Total liabilities	7,925.4	23,258.1
Commitments and contingencies
Redeemable non-controlling interests in consolidated entities	6.2	2,845.9
Partners’ capital (common units 84,578,736 and 80,408,702 issued and outstanding as of September 30, 2016 and December 31, 2015, respectively)	438.7	485.9
Accumulated other comprehensive loss	(86)	(90.1)
Partners’ capital appropriated for Consolidated Funds	0	120.8
Non-controlling interests in consolidated entities	201.2	4,493.8
Non-controlling interests in Carlyle Holdings	1,018.1	1,067.2
Total partners’ capital	1,572	6,077.6
Total liabilities and partners’ capital	$ 9,503.6	$ 32,181.6

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Principal amount of loans payable	$ 148.2	$ 125.6
Common stock, units issued (in shares)	84,578,736	80,408,702
Common stock, units outstanding (in shares)	84,578,736	80,408,702

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Fund management fees	$ 255,100,000	$ 278,300,000	$ 817,100,000	$ 830,100,000
Performance fees
Realized	383,400,000	329,200,000	905,100,000	1,251,000,000
Unrealized	(168,700,000)	(575,800,000)	(334,300,000)	(629,700,000)
Total performance fees	214,700,000	(246,600,000)	570,800,000	621,300,000
Investment income (loss)
Realized	40,700,000	12,500,000	92,200,000	24,200,000
Unrealized	29,800,000	(22,000,000)	34,000,000	(17,700,000)
Total investment income (loss)	70,500,000	(9,500,000)	126,200,000	6,500,000
Interest and other income	5,300,000	5,000,000	15,000,000	15,900,000
Interest and other income of Consolidated Funds	43,000,000	259,400,000	107,800,000	742,700,000
Revenue of a consolidated real estate VIE	18,700,000	10,900,000	61,500,000	73,900,000
Total revenues	607,300,000	297,500,000	1,698,400,000	2,290,400,000
Compensation and benefits
Base compensation	154,300,000	163,500,000	470,500,000	472,200,000
Equity-based compensation	81,400,000	86,800,000	265,800,000	291,000,000
Performance fee related
Realized	189,000,000	155,200,000	423,000,000	561,700,000
Unrealized	(78,100,000)	(228,100,000)	(146,100,000)	(146,200,000)
Total compensation and benefits	346,600,000	177,400,000	1,013,200,000	1,178,700,000
General, administrative and other expenses	188,900,000	289,600,000	362,600,000	539,200,000
Interest	15,600,000	14,500,000	46,300,000	43,600,000
Interest and other expenses of Consolidated Funds	32,300,000	296,900,000	87,300,000	791,700,000
Interest and other expenses of a consolidated real estate VIE	82,100,000	26,800,000	157,900,000	124,400,000
Other non-operating expenses (income)	(3,700,000)	(9,900,000)	800,000	(11,700,000)
Total expenses	661,800,000	795,300,000	1,668,100,000	2,665,900,000
Other income (loss)
Net investment gains (losses) of Consolidated Funds	4,800,000	(31,300,000)	3,100,000	935,800,000
Income (Loss) before provision for income taxes	(49,700,000)	(529,100,000)	33,400,000	560,300,000
Provision (benefit) for income taxes	1,000,000	(4,100,000)	32,700,000	12,400,000
Net income (loss)	(50,700,000)	(525,000,000)	700,000	547,900,000
Net income (loss) attributable to non-controlling interests in consolidated entities	(29,100,000)	(152,400,000)	(29,800,000)	657,500,000
Net income (loss) attributable to Carlyle Holdings	(21,600,000)	(372,600,000)	30,500,000	(109,600,000)
Net income (loss) attributable to non-controlling interests in Carlyle Holdings	(22,400,000)	(288,700,000)	15,200,000	(95,800,000)
Net income (loss) attributable to The Carlyle Group L.P.	$ 800,000	$ (83,900,000)	$ 15,300,000	$ (13,800,000)
Net income (loss) attributable to The Carlyle Group L.P. per common unit
Basic (usd per share)	$ 0.01	$ (1.05)	$ 0.19	$ (0.19)
Diluted (usd per share)	$ (0.02)	$ (1.11)	$ 0.08	$ (0.28)
Weighted-average common units
Basic (in shares)	83,602,503	78,849,332	82,062,633	72,812,892
Diluted (in shares)	312,534,968	301,558,908	306,981,103	299,143,320
Distributions declared per common unit (dollars per share)	$ 0.63	$ 0.89	$ 1.18	$ 2.83

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (50.7)	$ (525)	$ 0.7	$ 547.9
Other comprehensive income (loss)
Foreign currency translation adjustments	5.9	156.8	(11.3)	(734.8)
Cash flow hedges
Reclassification adjustment for loss included in interest expense	0.6	0.7	1.8	1.7
Defined benefit plans
Unrealized gain (loss) for the period	0.4	(0.9)	0.9	0.1
Less: reclassification adjustment for loss during the period, included in base compensation expense	0.1	0	0.1	0.2
Other comprehensive income (loss)	7	156.6	(8.5)	(732.8)
Comprehensive income (loss)	(43.7)	(368.4)	(7.8)	(184.9)
Comprehensive (income) loss attributable to partners’ capital appropriated for Consolidated Funds	0	(35.3)	0	26.5
Comprehensive (income) loss attributable to non-controlling interests in consolidated entities	46.2	(104.5)	71	(263.5)
Comprehensive (income) loss attributable to redeemable non-controlling interests in consolidated entities	(0.2)	128.7	(0.1)	214.5
Comprehensive income (loss) attributable to Carlyle Holdings	2.3	(379.5)	63.1	(207.4)
Comprehensive (income) loss attributable to non-controlling interests in Carlyle Holdings	4.7	293.9	(39.2)	175.5
Comprehensive income (loss) attributable to The Carlyle Group L.P.	$ 7	$ (85.6)	$ 23.9	$ (31.9)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net income	$ 0.7	$ 547.9
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	52.6	281.7
Equity-based compensation	265.8	291
Excess tax benefits related to equity-based compensation	0	(1.4)
Non-cash performance fees	108	601
Other non-cash amounts	(19.2)	41.8
Consolidated Funds related:
Realized/unrealized gain on investments of Consolidated Funds	(45)	(770.6)
Realized/unrealized (gain) loss from loans payable of Consolidated Funds	43.8	(197)
Purchases of investments by Consolidated Funds	(1,707.8)	(7,577.3)
Proceeds from sale and settlements of investments by Consolidated Funds	873.9	9,359.9
Non-cash interest income, net	(3.6)	(3)
Change in cash and cash equivalents held at Consolidated Funds	622.5	1,670.3
Change in other receivables held at Consolidated Funds	(4.8)	5.4
Change in other liabilities held at Consolidated Funds	(178.9)	(223)
Investment (income) loss	(124.2)	2.7
Purchases of investments	(218.6)	(51.5)
Proceeds from the sale of investments and trading securities	219.7	371.4
Payments of contingent consideration	(82.6)	(17.8)
Changes in deferred taxes, net	3.7	(12)
Change in due from affiliates and other receivables	2.8	(3.4)
Change in receivables and inventory of a consolidated real estate VIE	45.1	(49.5)
Change in deposits and other	5	(9.3)
Change in other assets of a consolidated real estate VIE	33.1	(10.5)
Change in accounts payable, accrued expenses and other liabilities	71.8	(0.1)
Change in accrued compensation and benefits	32.4	(212.8)
Change in due to affiliates	(22.4)	253.5
Change in other liabilities of a consolidated real estate VIE	(1.2)	43.9
Change in deferred revenue	154.9	111.4
Net cash provided by operating activities	127.5	4,442.7
Cash flows from investing activities
Change in restricted cash	1.8	(217.9)
Purchases of fixed assets, net	(13.3)	(49.8)
Net cash used in investing activities	(11.5)	(267.7)
Cash flows from financing activities
Proceeds from debt obligations	20.6	0
Net payments on loans payable of a consolidated real estate VIE	(27.3)	(53.1)
Net borrowings (payments) on loans payable of Consolidated Funds	339.7	(40)
Payments of contingent consideration	(3.3)	(8)
Excess tax benefits related to equity-based compensation	0	1.4
Distributions to common unitholders	(98.5)	(206)
Distributions to non-controlling interest holders in Carlyle Holdings	(300.9)	(702.4)
Net proceeds from issuance of common units, net of offering costs	0	209.9
Acquisition of non-controlling interests in Carlyle Holdings	0	(209.9)
Contributions from non-controlling interest holders	75.3	1,629.9
Distributions to non-controlling interest holders	(87.3)	(4,325.2)
Units repurchased	(53.6)	0
Change in due to/from affiliates financing activities	62	4.4
Change in due to/from affiliates and other receivables of Consolidated Funds	0	(341.1)
Net cash used in financing activities	(73.3)	(4,040.1)
Effect of foreign exchange rate changes	9.1	(69.4)
Increase in cash and cash equivalents	51.8	65.5
Cash and cash equivalents, beginning of period	991.5	1,242
Cash and cash equivalents, end of period	1,043.3	1,307.5
Supplemental non-cash disclosures
Net increase in partners’ capital and accumulated other comprehensive income related to reallocation of ownership interest in Carlyle Holdings	12.4	25.4
Initial consolidation of Consolidated Funds	0	36
Net asset impact of deconsolidation of Consolidated Funds	(7,170.2)	(36)
Deferred tax asset	2.5	57.9
Deferred tax liability	0	2.6
Tax receivable agreement liability	2.2	49.8
Total partners’ capital	$ 0.3	$ 5.5

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation The Carlyle Group L.P., together with its consolidated subsidiaries (the “Partnership” or “Carlyle”), is one of the world’s largest global alternative asset management firms that originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, growth capital financings, real estate opportunities, bank loans, high-yield debt, distressed assets, mezzanine debt and other investment opportunities. The Partnership is a Delaware limited partnership formed on July 18, 2011. The Partnership is managed and operated by its general partner, Carlyle Group Management L.L.C., which is in turn wholly-owned and controlled by Carlyle’s founders and other senior Carlyle professionals. Carlyle provides investment management services to, and has transactions with, various private equity funds, real estate funds, business development companies, collateralized loan obligations (“CLOs”), hedge funds and other investment products sponsored by the Partnership for the investment of client assets in the normal course of business. Carlyle typically serves as the general partner, investment manager or collateral manager, making day-to-day investment decisions concerning the assets of these products. Carlyle operates its business through four reportable segments: Corporate Private Equity, Global Market Strategies, Real Assets and Investment Solutions (see Note 17). Basis of Presentation The accompanying financial statements include the accounts of the Partnership and its consolidated subsidiaries. In addition, certain Carlyle-affiliated funds, related co-investment entities, certain CLOs managed by the Partnership (collectively the “Consolidated Funds”) and a real estate development company (see Note 16) have been consolidated in the accompanying financial statements pursuant to accounting principles generally accepted in the United States (“U.S. GAAP”), as described in Note 2. The consolidation of the Consolidated Funds generally has a gross-up effect on assets, liabilities and cash flows, and has no effect on the net income attributable to the Partnership. The economic ownership interests of the other investors in the Consolidated Funds are reflected as non-controlling interests in consolidated entities, partners’ capital appropriated for Consolidated Funds and redeemable non-controlling interests in consolidated entities in the accompanying condensed consolidated financial statements (see Note 2). The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information. These statements, including notes, have not been audited, exclude some of the disclosures required for annual financial statements, and should be read in conjunction with the audited consolidated financial statements included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission (“SEC”). The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are necessary for the fair presentation of the financial condition and results of operations for the interim periods presented. Unit Repurchase Program In February 2016, the Board of Directors of the general partner of the Partnership authorized the repurchase of up to $ 200 million of common units and/or Carlyle Holdings units. Under this unit repurchase program, units may be repurchased from time to time in open market transactions, in privately negotiated transactions or otherwise. The Partnership expects that the majority of repurchases under this program will be done via open market transactions. No units will be repurchased from the Partnership's executive officers under this program. The timing and actual number of common units and/or Carlyle Holdings units repurchased will depend on a variety of factors, including legal requirements, price, and economic and market conditions. This unit repurchase program may be suspended or discontinued at any time and does not have a specified expiration date. During the nine months ended September 30, 2016 , the Partnership paid an aggregate of $53.6 million to repurchase and retire 3,339,300 units with the majority of repurchases done via open market transactions.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation The Partnership consolidates all entities that it controls either through a majority voting interest or as the primary beneficiary of variable interest entities (“VIEs”). On January 1, 2016, the Partnership adopted ASU 2015-2, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which provides a revised consolidation model for all reporting entities to use in evaluating whether to consolidate certain types of legal entities. As a result, the Partnership deconsolidated the majority of the Partnership's consolidated funds on January 1, 2016. Upon adoption, the Partnership deconsolidated approximately $ 23.2 billion in assets and approximately $ 16.1 billion in liabilities, and, using the modified retrospective method, recorded a $ 4.3 billion cumulative effect adjustment to partners' capital and $2.8 billion to redeemable non-controlling interests in consolidated entities. The adoption of the new consolidation guidance had no impact on net income (loss) attributable to Carlyle Holdings or to net income (loss) attributable to the Partnership. Prior period results were not restated upon adoption. The Partnership evaluates (1) whether it holds a variable interest in an entity, (2) whether the entity is a VIE, and (3)whether the Partnership's involvement would make it the primary beneficiary. In evaluating whether the Partnership holds a variable interest, fees (including management fees and performance fees) that are customary and commensurate with the level of services provided, and where the Partnership does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, are not considered variable interests. The Partnership considers all economic interests, including indirect interests, to determine if a fee is considered a variable interest. For the funds the Partnership deconsolidated on January 1, 2016, the Partnership's fee arrangements were not considered to be variable interests. For those entities where the Partnership holds a variable interest, the Partnership determines whether each of these entities qualifies as a VIE and, if so, whether or not the Partnership is the primary beneficiary. The assessment of whether the entity is a VIE is generally performed qualitatively, which requires judgment. These judgments include: (a) determining whether the equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) evaluating whether the equity holders, as a group, can make decisions that have a significant effect on the economic performance of the entity, (c) determining whether two or more parties' equity interests should be aggregated, and (d) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive returns from an entity. For entities that are determined to be VIEs, the Partnership consolidates those entities where it has concluded it is the primary beneficiary. The primary beneficiary is defined as the variable interest holder with (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. In evaluating whether the Partnership is the primary beneficiary, the Partnership evaluates its economic interests in the entity held either directly or indirectly by the Partnership. As of September 30, 2016 , assets and liabilities of the remaining consolidated VIEs reflected in the condensed consolidated balance sheets were $3.9 billion and $3.7 billion , respectively. Except to the extent of the consolidated assets of the VIEs, the holders of the consolidated VIEs’ liabilities generally do not have recourse to the Partnership. Substantially all of our Consolidated Funds are CLOs, which are VIEs that issue loans payable that are backed by diversified collateral asset portfolios consisting primarily of loans or structured debt. In exchange for managing the collateral for the CLOs, the Partnership earns investment management fees, including in some cases subordinated management fees and contingent incentive fees. In cases where the Partnership consolidates the CLOs (primarily because of a retained interest that is significant to the CLO), those management fees have been eliminated as intercompany transactions. As of September 30, 2016 , the Partnership held $122.4 million of investments in these CLOs which represents its maximum risk of loss. The Partnership’s investments in these CLOs are generally subordinated to other interests in the entities and entitle the Partnership to receive a pro rata portion of the residual cash flows, if any, from the entities. Investors in the CLOs have no recourse against the Partnership for any losses sustained in the CLO structure. Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities. Under the voting interest entity model, the Partnership consolidates those entities it controls through a majority voting interest. All significant inter-entity transactions and balances of entities consolidated have been eliminated. Investments in Unconsolidated Variable Interest Entities The Partnership holds variable interests in certain VIEs that are not consolidated because the Partnership is not the primary beneficiary, including its investments in certain CLOs and strategic investment in NGP Management Company, L.L.C. (“NGP Management” and, together with its affiliates, “NGP”). Refer to Note 5 for information on the strategic investment in NGP. The Partnership’s involvement with such entities is in the form of direct equity interests and fee arrangements. The maximum exposure to loss represents the loss of assets recognized by the Partnership relating to its variable interests in these unconsolidated entities. The assets recognized in the Partnership’s condensed consolidated balance sheets related to the Partnership’s variable interests in these non-consolidated VIEs and the Partnership’s maximum exposure to loss relating to unconsolidated VIEs were as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Investments $ 693.4 $ 466.8 Due from affiliates, net 4.1 19.4 Maximum Exposure to Loss $ 697.5 $ 486.2 Additionally, as of September 30, 2016 , the Partnership had $30.9 million and $10.1 million recognized in the condensed consolidated balance sheet related to performance fee and management fee arrangements, respectively, related to the unconsolidated VIEs. Basis of Accounting The accompanying financial statements are prepared in accordance with U.S. GAAP. Management has determined that the Partnership’s Funds are investment companies under U.S. GAAP for the purposes of financial reporting. U.S. GAAP for an investment company requires investments to be recorded at estimated fair value and the unrealized gains and/or losses in an investment’s fair value are recognized on a current basis in the statements of operations. Additionally, the Funds do not consolidate their majority-owned and controlled investments (the “Portfolio Companies”). In the preparation of these condensed consolidated financial statements, the Partnership has retained the specialized accounting for the Funds. All of the investments held and notes issued by the Consolidated Funds are presented at their estimated fair values in the Partnership’s condensed consolidated balance sheets. Interest and other income of the Consolidated Funds as well as interest expense and other expenses of the Consolidated Funds are included in the Partnership’s condensed consolidated statements of operations. Prior to January 1, 2016, the excess of the CLO assets over the CLO liabilities upon consolidation was reflected in the Partnership’s condensed consolidated balance sheets as partners’ capital appropriated for Consolidated Funds. Net income attributable to the investors in the CLOs was included in net income (loss) attributable to non-controlling interests in consolidated entities in the condensed consolidated statements of operations and partners’ capital appropriated for Consolidated Funds in the condensed consolidated balance sheets. On January 1, 2016, the Partnership adopted ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity. ASU 2014-13 relates to reporting entities that elect to measure all eligible financial assets and financial liabilities of a consolidated collateralized financing entity at fair value. The Partnership's consolidated CLOs are consolidated collateralized financing entities for which the Partnership has measured financial assets and financial liabilities at fair value. ASU 2014-13 provides the option for a reporting entity to initially measure both the financial assets and financial liabilities using the fair value of either the financial assets or financial liabilities, whichever is more observable. In adopting this guidance on January 1, 2016, the Partnership applied the modified retrospective method by recording a cumulative effect adjustment to appropriated partners' capital of $ 2.0 million as of January 1, 2016. As a result of applying this adoption method, prior periods have not been impacted. The adoption of this guidance did not have an impact on net income attributable to Carlyle Holdings or to net income attributable to the Partnership. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make assumptions and estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management’s estimates are based on historical experiences and other factors, including expectations of future events that management believes to be reasonable under the circumstances. It also requires management to exercise judgment in the process of applying the Partnership’s accounting policies. Assumptions and estimates regarding the valuation of investments and their resulting impact on performance fees involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements and the resulting impact on performance fees. Actual results could differ from these estimates and such differences could be material. Business Combinations The Partnership accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Contingent consideration obligations that are elements of consideration transferred are recognized as of the acquisition date as part of the fair value transferred in exchange for the acquired business. Acquisition-related costs incurred in connection with a business combination are expensed as incurred. Revenue Recognition Fund Management Fees The Partnership provides management services to funds in which it holds a general partner interest or has a management agreement. For corporate private equity, certain global market strategies funds and real assets funds, management fees are calculated based on (a) limited partners’ capital commitments to the funds, (b) limited partners’ remaining capital invested in the funds at cost or at the lower of cost or aggregate remaining fair value, (c) gross assets, excluding cash and cash equivalents or (d) the net asset value (“NAV”) of certain of the funds, less offsets for the non-affiliated limited partners’ share of transaction advisory and portfolio fees earned, as defined in the respective partnership agreements. Management fees for corporate private equity, closed-end carry funds in the global market strategies segment and real assets funds generally range from 1% to 2% of commitments during the investment period of the relevant fund. Following the expiration or termination of the investment period of such funds, the management fees generally step-down to between 0.2% and 2.0% generally on the lower of cost or fair value of capital invested; however, certain of the Partnership's managed accounts, as well as longer-dated carry funds, earn management fees at all times on contributions for unrealized investments or the current value of the investment. The Partnership will receive management fees for corporate private equity and real assets funds during a specified period of time, which is generally ten years from the initial closing date, or, in some instances, from the final closing date, but such termination date may be earlier in certain limited circumstances or later if extended for successive one -year periods, typically up to a maximum of two years . Depending upon the contracted terms of investment advisory or investment management and related agreements, these fees are generally called semi-annually in advance and are recognized as earned over the subsequent six month period. For certain global market strategies funds, management fees are calculated based on assets under management of the funds with generally lower fee rates. Hedge funds typically pay management fees quarterly that generally range from 1.25% to 1.55% of NAV per year. Management fees for the business development companies are due quarterly in arrears at annual rates that range from 0.25% to 1.0% of gross assets, excluding cash and cash equivalents. Management fees for the CLOs and other structured products typically range from 0.15% to 1.0% on the total par amount of assets or the aggregate principal amount of the notes in the CLO and are due quarterly or semi-annually based on the terms and recognized over the respective period. Management fees for the CLOs/structured products are governed by indentures and collateral management agreements. The Partnership will receive management fees for the CLOs until redemption of the securities issued by the CLOs, which is generally five to ten years after issuance. Open-ended funds typically do not have stated termination dates. Management fees for the Partnership's private equity and real estate fund of funds vehicles generally range from 0.3% to 1.0% on the vehicle’s capital commitments during the commitment fee period of the relevant fund or the weighted-average investment period of the underlying funds. Following the expiration of the commitment fee period or weighted-average investment period of such funds, the management fees generally range from 0.3% to 1.0% on the lower of cost or fair value of the capital invested, the net asset value for unrealized investments, or the contributions for unrealized investments; however, certain managed accounts earn management fees at all times on contributions for unrealized investments. Management fees for the Partnership's Investment Solutions segment are generally due quarterly and recognized over the related quarter. The Partnership also provides transaction advisory and portfolio advisory services to the portfolio companies, and where covered by separate contractual agreements, recognizes fees for these services when the service has been provided and collection is reasonably assured. Fund management fees includes transaction and portfolio advisory fees of $5.2 million and $4.0 million for the three months ended September 30, 2016 and 2015 , respectively, and $37.1 million and $16.4 million for the nine months ended September 30, 2016 and 2015 , respectively, net of any offsets as defined in the respective partnership agreements. Fund management fees exclude the reimbursement of any partnership expenses paid by the Partnership on behalf of the Carlyle funds pursuant to the limited partnership agreements, including amounts related to the pursuit of actual, proposed, or unconsummated investments, professional fees, expenses associated with the acquisition, holding and disposition of investments, and other fund administrative expenses. Performance Fees Performance fees consist principally of the allocation of profits from certain of the funds to which the Partnership is entitled (commonly known as carried interest). The Partnership is generally entitled to a 20% allocation (or 10% to 20% on certain longer-dated carry funds as well as some external coinvestment vehicles, or approximately 2% to 10% in the case of most of the Partnership's fund of funds vehicles) of the net realized income or gain as a carried interest after returning the invested capital, the allocation of preferred returns of generally 7% to 9% (or 4% to 7% for certain longer-dated carry funds) and return of certain fund costs (generally subject to catch-up provisions as set forth in the fund limited partnership agreement) from its corporate private equity and real assets funds and closed-end carry funds in the global market strategies segment. Carried interest is recognized upon appreciation of the funds’ investment values above certain return hurdles set forth in each respective partnership agreement. The Partnership recognizes revenues attributable to performance fees based upon the amount that would be due pursuant to the fund partnership agreement at each period end as if the funds were terminated at that date. Accordingly, the amount recognized as performance fees reflects the Partnership’s share of the gains and losses of the associated funds’ underlying investments measured at their then-current fair values relative to the fair values as of the end of the prior period. Because of the inherent uncertainty, these estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and it is reasonably possible that the difference could be material. Carried interest is ultimately realized when: (i) an underlying investment is profitably disposed of, (ii) certain costs borne by the limited partner investors have been reimbursed, (iii) the fund’s cumulative returns are in excess of the preferred return and (iv) the Partnership has decided to collect carry rather than return additional capital to limited partner investors. Realized carried interest may be required to be returned by the Partnership in future periods if the funds’ investment values decline below certain levels. When the fair value of a fund’s investments remains constant or falls below certain return hurdles, previously recognized performance fees are reversed. In all cases, each fund is considered separately in this regard, and for a given fund, performance fees can never be negative over the life of a fund. If upon a hypothetical liquidation of a fund’s investments at their then-current fair values, previously recognized and distributed carried interest would be required to be returned, a liability is established for the potential giveback obligation. As of September 30, 2016 and December 31, 2015 , the Partnership has recognized $224.4 million and $252.0 million , respectively, for giveback obligations. In addition to its performance fees from its corporate private equity and real assets funds and closed-end carry funds in the global market strategies segment, the Partnership is also entitled to receive performance fees from certain of its global market strategies funds and investment solutions fund of funds vehicles when the return on assets under management exceeds certain benchmark returns or other performance targets. In such arrangements, performance fees are recognized when the performance benchmark has been achieved, and are included in performance fees in the accompanying condensed consolidated statements of operations. Investment Income (Loss) Investment income (loss) represents the unrealized and realized gains and losses resulting from the Partnership’s equity method investments and other principal investments. Equity method investment income (loss) includes the related amortization of the basis difference between the Partnership’s carrying value of its investment and the Partnership’s share of underlying net assets of the investee, as well as the compensation expense associated with compensatory arrangements provided by the Partnership to employees of its equity method investee. Investment income (loss) is realized when the Partnership redeems all or a portion of its investment or when the Partnership receives or is due cash income, such as dividends or distributions. Unrealized investment income (loss) results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. Interest Income Interest income is recognized when earned. For debt securities representing non-investment grade beneficial interests in securitizations, the effective yield is determined based on the estimated cash flows of the security. Changes in the effective yield of these securities due to changes in estimated cash flows are recognized on a prospective basis as adjustments to interest income in future periods. Interest income earned by the Partnership is included in interest and other income in the accompanying condensed consolidated statements of operations. Interest income of the Consolidated Funds was $40.0 million and $219.0 million for the three months ended September 30, 2016 and 2015 , respectively, and $101.6 million and $654.7 million for the nine months ended September 30, 2016 and 2015 , respectively, and is included in interest and other income of Consolidated Funds in the accompanying condensed consolidated statements of operations. Compensation and Benefits Base Compensation – Base compensation includes salaries, bonuses (discretionary awards and guaranteed amounts), performance payment arrangements and benefits paid and payable to Carlyle employees. Bonuses are accrued over the service period to which they relate. Equity-Based Compensation – Compensation expense relating to the issuance of equity-based awards to Carlyle employees is measured at fair value on the grant date. The compensation expense for awards that vest over a future service period is recognized over the relevant service period on a straight-line basis, adjusted for estimated forfeitures of awards that are not expected to vest. The compensation expense for awards that do not require future service is recognized immediately. Upon the end of the service period, compensation expense is adjusted to account for the actual forfeiture rate. Cash settled equity-based awards are classified as liabilities and are re-measured at the end of each reporting period. The compensation expense for awards that contain performance conditions is recognized when it is probable that the performance conditions will be achieved; in certain instances, such compensation expense may be recognized prior to the grant date of the award. Equity-based awards issued to non-employees are recognized as general, administrative and other expenses. The grant-date fair value of equity-based awards granted to Carlyle’s non-employee directors is expensed on a straight-line basis over the vesting period. The cost of services received in exchange for an equity-based award issued to non-employees who are not directors is measured at each vesting date, and is not measured based on the grant-date fair value of the award unless the award is vested at the grant date. Equity-based awards that require the satisfaction of future service criteria are recognized over the relevant service period, adjusted for estimated forfeitures of awards that are not expected to vest, based on the fair value of the award on each reporting date and adjusted for the actual fair value of the award at each vesting date. Accordingly, the measured value of the award will not be finalized until the vesting date. Performance Fee Related Compensation – A portion of the performance fees earned is due to employees and advisors of the Partnership. These amounts are accounted for as compensation expense in conjunction with the recognition of the related performance fee revenue and, until paid, are recognized as a component of the accrued compensation and benefits liability. Accordingly, upon a reversal of performance fee revenue, the related compensation expense, if any, is also reversed. As of both September 30, 2016 and December 31, 2015 , the Partnership had recorded a liability of $1.5 billion related to the portion of accrued performance fees due to employees and advisors, which was included in accrued compensation and benefits in the accompanying condensed consolidated financial statements. Income Taxes Certain of the wholly-owned subsidiaries of the Partnership and the Carlyle Holdings partnerships are subject to federal, state, local and foreign corporate income taxes at the entity level and the related tax provision attributable to the Partnership’s share of this income is reflected in the condensed consolidated financial statements. Based on applicable federal, foreign, state and local tax laws, the Partnership records a provision for income taxes for certain entities. Tax positions taken by the Partnership are subject to periodic audit by U.S. federal, state, local and foreign taxing authorities. The Partnership accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement reporting and the tax basis of assets and liabilities using enacted tax rates in effect for the period in which the difference is expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the period of the change in the provision for income taxes. Further, deferred tax assets are recognized for the expected realization of available net operating loss and tax credit carry forwards. A valuation allowance is recorded on the Partnership’s gross deferred tax assets when it is “more likely than not” that such asset will not be realized. When evaluating the realizability of the Partnership’s deferred tax assets, all evidence, both positive and negative, is evaluated. Items considered in this analysis include the ability to carry back losses, the reversal of temporary differences, tax planning strategies, and expectations of future earnings. Under U.S. GAAP for income taxes, the amount of tax benefit to be recognized is the amount of benefit that is “more likely than not” to be sustained upon examination. The Partnership analyzes its tax filing positions in all of the U.S. federal, state, local and foreign tax jurisdictions where it is required to file income tax returns, as well as for all open tax years in these jurisdictions. If, based on this analysis, the Partnership determines that uncertainties in tax positions exist, a liability is established, which is included in accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements. The Partnership recognizes accrued interest and penalties related to unrecognized tax positions in the provision for income taxes. If recognized, the entire amount of unrecognized tax positions would be recorded as a reduction in the provision for income taxes. Tax Receivable Agreement Exchanges of Carlyle Holdings partnership units for the Partnership’s common units that are executed by the limited partners of the Carlyle Holdings partnerships result in transfers of and increases in the tax basis of the tangible and intangible assets of Carlyle Holdings, primarily attributable to a portion of the goodwill inherent in the business. These transfers and increases in tax basis will increase (for tax purposes) depreciation and amortization and therefore reduce the amount of tax that certain of the Partnership’s subsidiaries, including Carlyle Holdings I GP Inc., which are referred to as the “corporate taxpayers,” would otherwise be required to pay in the future. This increase in tax basis may also decrease gain (or increase loss) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The Partnership has entered into a tax receivable agreement with the limited partners of the Carlyle Holdings partnerships whereby the corporate taxpayers have agreed to pay to the limited partners of the Carlyle Holdings partnerships involved in any exchange transaction 85% of the amount of cash tax savings, if any, in U.S. federal, state and local income tax or foreign or franchise tax that the corporate taxpayers realize as a result of these increases in tax basis and, in limited cases, transfers or prior increases in tax basis. The corporate taxpayers expect to benefit from the remaining 15% of cash tax savings, if any, in income tax they realize. Payments under the tax receivable agreement will be based on the tax reporting positions that the Partnership will determine. The corporate taxpayers will not be reimbursed for any payments previously made under the tax receivable agreement if a tax basis increase is successfully challenged by the Internal Revenue Service. The Partnership records an increase in deferred tax assets for the estimated income tax effects of the increases in tax basis based on enacted federal and state tax rates at the date of the exchange. To the extent that the Partnership estimates that the corporate taxpayers will not realize the full benefit represented by the deferred tax asset, based on an analysis that will consider, among other things, its expectation of future earnings, the Partnership will reduce the deferred tax asset with a valuation allowance and will assess the probability that the related liability owed under the tax receivable agreement will be paid. The Partnership records 85% of the estimated realizable tax benefit (which is the recorded deferred tax asset less any recorded valuation allowance) as an increase to the liability due under the tax receivable agreement, which is included in due to affiliates in the accompanying condensed consolidated financial statements. The remaining 15% of the estimated realizable tax benefit is initially recorded as an increase to the Partnership’s partners’ capital. All of the effects to the deferred tax asset of changes in any of the Partnership’s estimates after the tax year of the exchange will be reflected in the provision for income taxes. Similarly, the effect of subsequent changes in the enacted tax rates will be reflected in the provision for income taxes. Non-controlling Interests Non-controlling interests in consolidated entities represent the component of equity in consolidated entities held by third-party investors. These interests are adjusted for general partner allocations and by subscriptions and redemptions in hedge funds which occur during the reporting period. Any change in ownership of a subsidiary while the controlling financial interest is retained is accounted for as an equity transaction between the controlling and non-controlling interests. Transaction costs incurred in connection with such changes in ownership of a subsidiary are recorded as a direct charge to partners’ capital. Prior to January 1, 2016, non-controlling interests related to hedge funds were subject to quarterly or monthly redemption by investors in these funds following the expiration of a specified period of time, or were withdrawn subject to a redemption fee during the period when capital could not be withdrawn. As limited partners in these types of funds have been granted redemption rights, amounts relating to third-party interests in such consolidated funds were presented as redeemable non-controlling interests in consolidated entities within the condensed consolidated balance sheets. When redeemable amounts became contractually payable to investors, they were classified as a liability and included in other liabilities of Consolidated Funds in the condensed consolidated balance sheets. As a result of the adoption of the new consolidation guidance on January 1, 2016, the Partnership deconsolidated certain hedge funds that were previously consolidated and redeemable non-controlling interests i

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The fair value measurement accounting guidance establishes a hierarchal disclosure framework which ranks the observability of market price inputs used in measuring financial instruments at fair value. The observability of inputs is impacted by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices, or for which fair value can be measured from quoted prices in active markets, will generally have a higher degree of market price observability and a lesser degree of judgment applied in determining fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I – inputs to the valuation methodology are quoted prices available in active markets for identical instruments as of the reporting date. The type of financial instruments included in Level I include unrestricted securities, including equities and derivatives, listed in active markets. The Partnership does not adjust the quoted price for these instruments, even in situations where the Partnership holds a large position and a sale could reasonably impact the quoted price. Level II – inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date. The type of financial instruments in this category includes less liquid and restricted securities listed in active markets, securities traded in other than active markets, government and agency securities, and certain over-the-counter derivatives where the fair value is based on observable inputs. Level III – inputs to the valuation methodology are unobservable and significant to overall fair value measurement. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category include investments in privately-held entities, non-investment grade residual interests in securitizations, collateralized loan obligations, and certain over-the-counter derivatives where the fair value is based on unobservable inputs. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest level of input that is significant to the fair value measurement. The Partnership’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. In certain cases, debt and equity securities are valued on the basis of prices from an orderly transaction between market participants provided by reputable dealers or pricing services. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices, market transactions in comparable investments and various relationships between investments. The following table summarizes the Partnership’s assets and liabilities measured at fair value on a recurring basis by the above fair value hierarchy levels as of September 30, 2016 : (Dollars in millions) Level I Level II Level III Total Assets Investments of Consolidated Funds: Equity securities $ — $ — $ 10.5 $ 10.5 Bonds — — 396.4 396.4 Loans — — 2,982.3 2,982.3 Other — — 1.7 1.7 — — 3,390.9 3,390.9 Investments in CLOs and other — — 157.3 157.3 Corporate treasury investments Bonds — 55.1 — 55.1 Commercial paper and other — 40.0 — 40.0 — 95.1 — 95.1 Foreign currency forward contracts — 0.1 — 0.1 Total $ — $ 95.2 $ 3,548.2 $ 3,643.4 Liabilities Loans payable of Consolidated Funds (1) $ — $ — $ 3,253.4 $ 3,253.4 Contingent consideration (2) — — 11.4 11.4 Loans payable of a consolidated real estate VIE — — 88.9 88.9 Foreign currency forward contracts — 19.9 — 19.9 Total $ — $ 19.9 $ 3,353.7 $ 3,373.6 (1) Senior and subordinated notes issued by CLO vehicles are classified based on the more observable fair value of the CLO financial assets, less (i) the fair value of any beneficial interests held by the Partnership and (ii) the carrying value of any beneficial interests that represent compensation for services. (2) Related to contingent cash and equity consideration associated with the Partnership's acquisitions, excluding employment-based contingent consideration (see Note 8). The following table summarizes the Partnership’s assets and liabilities measured at fair value on a recurring basis by the above fair value hierarchy levels as of December 31, 2015 : (Dollars in millions) Level I Level II Level III Total Assets Investments of Consolidated Funds: Equity securities $ 254.6 $ 311.8 $ 575.3 $ 1,141.7 Bonds — — 1,180.9 1,180.9 Loans — — 15,686.7 15,686.7 Partnership and LLC interests (1) — — 59.6 3,143.3 Hedge funds (1) — — — 2,841.2 Other — — 5.0 5.0 254.6 311.8 17,507.5 23,998.8 Trading securities — — 1.4 1.4 Foreign currency forward contracts — 1.7 — 1.7 Restricted securities of Consolidated Funds 7.9 — 8.7 16.6 Total $ 262.5 $ 313.5 $ 17,517.6 $ 24,018.5 Liabilities Loans payable of Consolidated Funds $ — $ — $ 17,046.7 $ 17,046.7 Derivative instruments of the CLOs — — 29.1 29.1 Contingent consideration (2) — — 20.8 20.8 Loans payable of a consolidated real estate VIE — — 75.4 75.4 Interest rate swaps — 0.9 — 0.9 Foreign currency forward contracts — 2.8 — 2.8 Total $ — $ 3.7 $ 17,172.0 $ 17,175.7 (1) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated balance sheets. (2) Related to contingent cash and equity consideration associated with the Partnership's acquisitions, excluding employment-based contingent consideration (see Note 8). There were no transfers from Level II to Level I during the nine months ended September 30, 2016 . Transfers from Level II to Level I during the nine months ended September 30, 2015 were due to the expiration of transferability restrictions on certain equity securities of Consolidated Funds that were previously classified as Level II. Investment professionals with responsibility for the underlying investments are responsible for preparing the investment valuations pursuant to the policies, methodologies and templates prepared by the Partnership’s valuation group, which is a team made up of dedicated valuation professionals reporting to the Partnership’s chief accounting officer. The valuation group is responsible for maintaining the Partnership’s valuation policy and related guidance, templates and systems that are designed to be consistent with the guidance found in ASC 820, Fair Value Measurement . These valuations, inputs and preliminary conclusions are reviewed by the fund accounting teams. The valuations are then reviewed and approved by the respective fund valuation subcommittees, which are comprised of the respective fund head(s), segment head, chief financial officer and chief accounting officer, as well as members of the valuation group. The valuation group compiles the aggregate results and significant matters and presents them for review and approval by the global valuation committee, which is comprised of the Partnership’s co-chief executive officers, president and chief operating officer, chief risk officer, chief financial officer, chief accounting officer, deputy chief investment officers for Corporate Private Equity, the business segment heads, and observed by the chief compliance officer, the director of internal audit and the Partnership’s audit committee. Additionally, each quarter a sample of valuations are reviewed by external valuation firms. In the absence of observable market prices, the Partnership values its investments using valuation methodologies applied on a consistent basis. For some investments little market activity may exist. Management’s determination of fair value is then based on the best information available in the circumstances and may incorporate management’s own assumptions and involves a significant degree of judgment, taking into consideration a combination of internal and external factors, including the appropriate risk adjustments for non-performance and liquidity risks. Investments for which market prices are not observable include private investments in the equity of operating companies and real estate properties, and certain debt positions. The valuation technique for each of these investments is described below: Private Equity and Real Estate Investments – The fair values of private equity investments are determined by reference to projected net earnings, earnings before interest, taxes, depreciation and amortization (“EBITDA”), the discounted cash flow method, public market or private transactions, valuations for comparable companies or sales of comparable assets, and other measures which, in many cases, are unaudited at the time received. The methods used to estimate the fair value of real estate investments include the discounted cash flow method and/or capitalization rate (“cap rate”) analysis. Valuations may be derived by reference to observable valuation measures for comparable companies or transactions (e.g., applying a key performance metric of the investment such as EBITDA or net operating income to a relevant valuation multiple or cap rate observed in the range of comparable companies or transactions), adjusted by management for differences between the investment and the referenced comparables, and in some instances by reference to option pricing models or other similar models. Adjustments to observable valuation measures are frequently made upon the initial investment to calibrate the initial investment valuation to industry observable inputs. Such adjustments are made to align the investment to observable industry inputs for differences in size, profitability, projected growth rates, geography and capital structure if applicable. The adjustments are reviewed with each subsequent valuation to assess how the investment has evolved relative to the observable inputs. Additionally, the investment may be subject to certain specific risks and/or development milestones which are also taken into account in the valuation assessment. Option pricing models and similar tools do not currently drive a significant portion of private equity or real estate valuations and are used primarily to value warrants, derivatives, certain restrictions and other atypical investment instruments. Credit-Oriented Investments – The fair values of credit-oriented investments (including corporate treasury investments) are generally determined on the basis of prices between market participants provided by reputable dealers or pricing services. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices, market transactions in comparable investments and various relationships between investments. Specifically, for investments in distressed debt and corporate loans and bonds, the fair values are generally determined by valuations of comparable investments. In some instances, the Partnership may utilize other valuation techniques, including the discounted cash flow method. CLO Investments and CLO Loans Payable – Prior to January 1, 2016, the Partnership elected the fair value option to measure the assets and liabilities of the Partnership's consolidated CLOs. The Partnership accounted for the difference between the fair value of the assets and the fair value of the liabilities of the Partnership's consolidated CLOs in net investment gains (losses) of consolidated funds in the condensed consolidated statements of operations. This amount was attributed to the Partnership and third party beneficial interest holders based on each beneficial interest holder's residual interest in the consolidated CLOs. The amount attributed to third party beneficial interest holders was reflected in the condensed consolidated statements of operations in net income (loss) attributable to non-controlling interests in consolidated entities and in the condensed consolidated statements of financial position in partners' capital appropriated for consolidated funds. The amount was recorded as appropriated partners' capital since the other holders of the CLOs' beneficial interests, not the Partnership, received the benefits, or absorbed the losses, associated with their proportionate share of the CLOs' assets and liabilities. On January 1, 2016, the Partnership adopted ASU 2014-13 (concurrently with the adoption of ASU 2015-2) and elected to measure the financial liabilities of its consolidated CLOs based on the fair value of the financial assets of its consolidated CLOs, as the Partnership believes the fair value of the financial assets are more observable. As a result of the adoption of ASU 2014-13, the Partnership recorded a cumulative effect adjustment to partners' capital on January 1, 2016 to adjust the previous measurement of its consolidated CLOs' financial liabilities to the new measurement guidance. The fair values of the CLO loan and bond assets are primarily based on quotations from reputable dealers or relevant pricing services. In situations where valuation quotations are unavailable, the assets are valued based on similar securities, market index changes, and other factors. The Partnership corroborates quotations from pricing services either with other available pricing data or with its own models. Generally, the loan and bond assets of the CLOs are not actively traded and are classified as Level III. The fair values of the CLO structured asset positions are determined based on both discounted cash flow analyses and third party quotes. Those analyses consider the position size, liquidity, current financial condition of the CLOs, the third party financing environment, reinvestment rates, recovery lags, discount rates and default forecasts and are compared to broker quotations from market makers and third party dealers. For periods prior to January 1, 2016, the fair values of the CLO loans payable were determined based on both discounted cash flow analyses and third-party quotes. Those analyses considered the position size, liquidity, current financial condition of the CLOs, the third-party financing environment, reinvestment rates, recovery lags, discount rates and default forecasts and were compared to broker quotations from market makers and third party dealers. Effective January 1, 2016, with the adoption of ASU 2014-13, the Partnership measures the CLO loan payables held by third party beneficial interest holders on the basis of the fair value of the financial assets of the CLO and the beneficial interests held by the Partnership. The Partnership continues to measure the CLO loans payable that it holds at fair value based on both discounted cash flow analyses and third-party quotes, as described above. Loans Payable of a Consolidated Real Estate VIE – The Partnership has elected the fair value option to measure the loans payable of a consolidated real estate VIE at fair value. The fair values of the loans are primarily based on discounted cash flows analyses, which consider the liquidity and current financial condition of the consolidated real estate VIE. These loans are classified as Level III. Fund Investments – The Partnership’s investments in external funds are valued based on its proportionate share of the net assets provided by the third party general partners of the underlying fund partnerships based on the most recent available information which typically has a lag of up to 90 days . The terms of the investments generally preclude the ability to redeem the investment. Distributions from these investments will be received as the underlying assets in the funds are liquidated, the timing of which cannot be readily determined. The changes in financial instruments measured at fair value for which the Partnership has used Level III inputs to determine fair value are as follows (Dollars in millions): Financial Assets Three Months Ended September 30, 2016 Investments of Consolidated Funds Equity Bonds Loans Other Investments in CLOs and other Total Balance, beginning of period $ 11.9 $ 407.8 $ 2,933.1 $ 0.1 $ 152.7 $ 3,505.6 Purchases — 45.3 352.0 — 1.0 398.3 Sales 0.1 (66.3 ) (122.0 ) — (2.2 ) (190.4 ) Settlements — — (220.7 ) — — (220.7 ) Realized and unrealized gains (losses), net Included in earnings (1.5 ) 4.1 18.4 1.6 8.7 31.3 Included in other comprehensive income — 5.5 21.5 — (2.9 ) 24.1 Balance, end of period $ 10.5 $ 396.4 $ 2,982.3 $ 1.7 $ 157.3 $ 3,548.2 Changes in unrealized gains $ (1.3 ) $ 3.5 $ 15.7 $ 0.3 $ 8.4 $ 26.6 Financial Assets Nine Months Ended September 30, 2016 Investments of Consolidated Funds Equity Bonds Loans Partnership (2) Other Investments in CLOs and other Restricted Total Balance, beginning of period $ 575.3 $ 1,180.9 $ 15,686.7 $ 59.6 $ 5.0 $ 1.4 $ 8.7 $ 17,517.6 Deconsolidation of funds (1) (562.1 ) (890.7 ) (13,506.9 ) (74.3 ) (5.0 ) 123.8 (8.7 ) (14,923.9 ) Purchases 11.1 194.3 1,490.0 12.4 — 25.9 — 1,733.7 Sales (5.1 ) (103.6 ) (249.9 ) — — (6.4 ) — (365.0 ) Settlements — — (516.9 ) — — — — (516.9 ) Realized and unrealized Included in earnings (9.0 ) 5.9 42.3 2.3 1.7 26.9 — 70.1 Included in other comprehensive income 0.3 9.6 37.0 — — (14.3 ) — 32.6 Balance, end of period $ 10.5 $ 396.4 $ 2,982.3 $ — $ 1.7 $ 157.3 $ — $ 3,548.2 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ (7.0 ) $ 5.1 $ 36.6 $ — $ 1.8 $ 26.9 $ — $ 63.4 Financial Assets Three Months Ended September 30, 2015 Investments of Consolidated Funds Equity Bonds Loans Partnership (2) Other Trading Restricted securities of Consolidated Funds Total Balance, beginning of period $ 1,023.8 $ 1,193.7 $ 15,460.9 $ — $ 4.0 $ 2.0 $ 8.7 $ 17,693.1 Transfers out (3) (115.1 ) — — — — — — (115.1 ) Purchases 32.6 177.8 2,948.7 — — — — 3,159.1 Sales (21.0 ) (117.1 ) (1,543.2 ) — — — — (1,681.3 ) Settlements — — (1,195.6 ) — — — — (1,195.6 ) Realized and unrealized gains (losses), net Included in earnings 11.1 (27.7 ) (204.7 ) — (0.7 ) (0.4 ) — (222.4 ) Included in other comprehensive income 24.6 2.5 16.1 — — — — 43.2 Balance, end of period $ 956.0 $ 1,229.2 $ 15,482.2 $ — $ 3.3 $ 1.6 $ 8.7 $ 17,681.0 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ 3.3 $ (24.9 ) $ (199.8 ) $ — $ (0.7 ) $ (0.1 ) $ — $ (222.2 ) Financial Assets Nine Months Ended September 30, 2015 Investments of Consolidated Funds Equity Bonds Loans Partnership (2) Other Trading Restricted securities of Consolidated Funds Total Balance, beginning of period $ 1,968.5 $ 1,235.8 $ 15,084.9 $ — $ 1.5 $ 3.3 $ 8.6 $ 18,302.6 Transfers out (3) (115.1 ) — — — — — (3.9 ) (119.0 ) Purchases 60.6 403.2 6,223.0 — — — 3.9 6,690.7 Sales (1,043.3 ) (324.9 ) (2,682.1 ) — — — — (4,050.3 ) Settlements — — (2,693.1 ) — — — — (2,693.1 ) Realized and unrealized gains (losses), net Included in earnings 261.0 (4.4 ) (88.3 ) — 1.9 (1.7 ) 0.1 168.6 Included in other comprehensive income (175.7 ) (80.5 ) (362.2 ) — (0.1 ) — — (618.5 ) Balance, end of period $ 956.0 $ 1,229.2 $ 15,482.2 $ — $ 3.3 $ 1.6 $ 8.7 $ 17,681.0 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ (299.2 ) $ (4.9 ) $ (112.7 ) $ — $ 2.1 $ (1.4 ) $ (0.1 ) $ (416.2 ) (1) As a result of the adoption of ASU 2015-2 and the deconsolidation of certain CLOs on January 1, 2016, $ 123.8 million of investments that the Partnership held in those CLOs are no longer eliminated in consolidation and are now included in investments in CLOs and other for the nine months ended September 30, 2016 . (2) As a result of the retrospective adoption of ASU 2015-7, the beginning balance of Partnership and LLC interests that are measured at fair value using the NAV per share practical expedient have been revised to reflect their exclusion from the fair value hierarchy. (3) Transfers into and out of Level III financial assets were due to changes in the observability of market inputs used in the valuation of such assets. Transfers are measured as of the beginning of the period in which the transfer occurs. Financial Liabilities Three Months Ended September 30, 2016 Loans Payable Derivative Contingent Loans Payable of Total Balance, beginning of period $ 3,284.7 $ 0.3 $ 25.0 $ 81.7 $ 3,391.7 Initial consolidation of funds — — — — — Borrowings 26.4 — — — 26.4 Paydowns (99.0 ) — (10.0 ) (10.4 ) (119.4 ) Sales — (1.7 ) — — (1.7 ) Realized and unrealized (gains) losses, net Included in earnings 15.8 1.4 (3.7 ) 7.1 20.6 Included in other comprehensive income 25.5 — 0.1 10.5 36.1 Balance, end of period $ 3,253.4 $ — $ 11.4 $ 88.9 $ 3,353.7 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ 19.5 $ — $ 0.1 $ 7.1 $ 26.7 Financial Liabilities Nine Months Ended September 30, 2016 Loans Payable Derivative Contingent Loans Payable of Total Balance, beginning of period $ 17,046.7 $ 29.1 $ 20.8 $ 75.4 $ 17,172.0 Initial consolidation / (14,221.3 ) (29.0 ) — — (14,250.3 ) Borrowings 671.1 — — — 671.1 Paydowns (331.4 ) — (10.3 ) (27.3 ) (369.0 ) Sales — (1.7 ) — — (1.7 ) Realized and unrealized (gains) losses, net Included in earnings 43.8 1.6 0.8 20.9 67.1 Included in other comprehensive income 44.5 — 0.1 19.9 64.5 Balance, end of period $ 3,253.4 $ — $ 11.4 $ 88.9 $ 3,353.7 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ 36.6 $ — $ 0.5 $ 20.9 $ 58.0 Financial Liabilities Three Months Ended September 30, 2015 Loans Payable Derivative Contingent Loans Payable of a consolidated real estate VIE Total Balance, beginning of period $ 16,727.5 $ 29.1 $ 47.9 $ 112.4 $ 16,916.9 Initial consolidation of funds 584.2 — — — 584.2 Borrowings 959.5 — — — 959.5 Paydowns (1,315.9 ) — (21.4 ) (20.4 ) (1,357.7 ) Sales — (0.9 ) — — (0.9 ) Realized and unrealized (gains) losses, net Included in earnings (303.8 ) (2.4 ) (10.0 ) 12.8 (303.4 ) Included in other comprehensive income 13.6 — 0.1 4.3 18.0 Balance, end of period $ 16,665.1 $ 25.8 $ 16.6 $ 109.1 $ 16,816.6 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ (324.7 ) $ 3.3 $ (10.6 ) $ 12.8 $ (319.2 ) Financial Liabilities Nine Months Ended September 30, 2015 Loans Payable Derivative Contingent Loans Payable of a consolidated real estate VIE Total Balance, beginning of period $ 16,052.2 $ 17.2 $ 51.1 $ 146.2 $ 16,266.7 Initial consolidation of funds 1,248.6 — — — 1,248.6 Borrowings 2,584.6 — — — 2,584.6 Paydowns (2,627.6 ) — (22.5 ) (53.1 ) (2,703.2 ) Sales — (5.6 ) — — (5.6 ) Realized and unrealized (gains) losses, net Included in earnings (198.8 ) 15.1 (11.8 ) 43.9 (151.6 ) Included in other comprehensive income (393.9 ) (0.9 ) (0.2 ) (27.9 ) (422.9 ) Balance, end of period $ 16,665.1 $ 25.8 $ 16.6 $ 109.1 $ 16,816.6 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ (244.8 ) $ (12.3 ) $ (12.4 ) $ 43.9 $ (225.6 ) Realized and unrealized gains and losses included in earnings for Level III investments for investments in CLOs and trading securities are included in investment income (loss), and such gains and losses for investments of Consolidated Funds and loans payable and derivative instruments of the CLOs are included in net investment gains (losses) of Consolidated Funds in the condensed consolidated statements of operations. Realized and unrealized gains and losses included in earnings for Level III contingent consideration liabilities are included in other non-operating expense (income), and such gains and losses for loans payable of a consolidated real estate VIE are included in interest and other expenses of a consolidated real estate VIE in the condensed consolidated statement of operations. Gains and losses included in other comprehensive income for all Level III financial asset and liabilities are included in accumulated other comprehensive loss, partners’ capital appropriated for Consolidated Funds, non-controlling interests in consolidated entities and non-controlling interests in Carlyle Holdings in the condensed consolidated balance sheets. The following table summarizes quantitative information about the Partnership’s Level III inputs as of September 30, 2016 : Fair Value at Valuation Technique(s) Unobservable Input(s) Range (Dollars in millions) September 30, 2016 Assets Investments of Consolidated Funds: Equity securities 10.2 Discounted Cash Flow Discount Rates 9% - 13% (10%) Exit Cap Rate 7% - 11% (8%) 0.3 Consensus Pricing Indicative Quotes ($ per share) $5 Bonds 396.4 Consensus Pricing Indicative Quotes (% of Par) 80 - 112 (100) Loans 2,982.3 Consensus Pricing Indicative Quotes (% of Par) 10 - 102 (99) Other 1.7 Counterparty Pricing Indicative Quotes 6 - 14 (7) 3,390.9 Investments in CLOs and other: Senior secured notes 122.3 Discounted Cash Flow with Consensus Pricing Discount Rates 1% - 14% (2%) Default Rates 1% - 3% (2%) Recovery Rates 60% - 73% (66%) Indicative Quotes (% of Par) 82 - 102 (99) Subordinated notes and preferred shares 33.9 Discounted Cash Flow with Consensus Pricing Discount Rates 10% - 16% (14%) Default Rates 1% - 3% (2%) Recovery Rates 60% - 73% (65%) Indicative Quotes (% of Par) 2 - 100 (95) Other 1.1 Comparable Multiple LTM EBITDA Multiple 5.7x - 5.7x (5.7x) Total $ 3,548.2 Liabilities Loans payable of Consolidated Funds: Senior secured notes (1) $ 3,079.5 Other N/A N/A Subordinated notes and preferred shares (1) 44.7 Other N/A N/A 129.2 Discounted Cash Flow with Consensus Pricing Discount Rates 10% - 16% (13%) Default Rates 1% - 3% (2%) Recovery Rates 60% - 73% (66%) Indicative Quotes (% of Par) 7 - 92 (67) Loans payable of a consolidated real estate VIE 88.9 Discounted Cash Flow Discount to Expected Payment 10% - 55% (37%) Discount Rate 20% - 30% (23%) Contingent consideration (2) 11.4 Discounted Cash Flow Assumed % of Total Potential Contingent Payments 0% - 16% (5%) Discount Rate 4% - 23% (4%) Total $ 3,353.7 (1) Beginning on January 1, 2016, CLO loan payables held by third party beneficial interest holders are measured on the basis of the fair value of the financial assets of the CLO and the beneficial interests held by the Partnership. (2) Related to contingent cash consideration associated with the Partnership's acquisitions (see Note 8). The following table summarizes quantitative information about the Partnership’s Level III inputs as of December 31, 2015 : Fair Value at Valuation Technique(s) Unobservable Input(s) Range (Dollars in millions) December 31, 2015 Assets Investments of Consolidated Funds: Equity securities $ 556.0 Comparable Multiple LTM EBITDA Multiple 1.0x - 20.4x (11.4x) 8.0 Discounted Cash Flow Discount Rates 10% - 10% (10%) 5.2 Other N/A N/A 6.1 Consensus Pricing Indicative Quotes $0 - $647 ($0) Bonds 1,180.9 Consensus Pricing Indicative Quotes (% of Par) 30 - 112 (97) Loans 15,673.3 Consensus Pricing Indicative Quotes (% of Par) 28 - 102 (96) 13.4 Market Yield Analysis Market Yield 5% - 16% (10%) Partnership and LLC interests 59.6 Discounted Cash Flow Discount Rates 8% - 10% (9%) Exit Cap Rate 5% - 6% (5%) Other 5.0 Counterparty Pricing Indicative Quotes 1 - 22 (7) 17,507.5 Trading securities and other 1.4 Comparable Multiple LTM EBITDA Multiple 5.8x - 5.8x (5.8x) Restricted securities of Consolidated Funds 8.7 Consensus Pricing Indicative Quotes (% of Par) 88 - 88 (88) Total $ 17,517.6 Liabilities Loans payable of Consolidated Funds: Senior secured notes $ 15,915.5 Discounted Cash Flow with Consensus Pricing Discount Rates 1% - 12% (3%) Default Rates 1% - 5% (3%) Recovery Rates 55% - 80% (63%) Indicative Quotes (% of Par) 38 - 102 (98) Subordinated notes and preferred shares 1,112.4 Discounted Cash Flow with Consensus Pricing Discount Rates 9% - 16% (12%) Default Rates 1% - 5% (3%) Recovery Rates 55% - 80% (64%) Indicative Quotes (% of Par) 1 - 101 (55) Combination notes 18.8 Consensus Pricing Indicative Quotes (% of Par) 88 - 96 (94) Loans payable of a consolidated real estate VIE 75.4 Discounted Cash Flow Discount to Expected Payment 10% - 52% (35%) Discount Rate 20% - 30% (23%) Derivative instruments of Consolidated Funds 29.1 Counterparty Pricing Indicative Quotes 3 - 34 (22) Contingent consideration (1) 20.8 Discounted Cash Flow Assumed % of Total Potential Contingent Payments 0% - 100% (8%) Discount Rate 4% - 22% (9%) Total $ 17,172.0 (1) Related to contingent cash consideration associated with the Partnership's acquisitions (see Note 8). The significant unobservable inputs used in the fair value measurement of the Partnership’s investments in equity securities include EBITDA multiples, indicative quotes, discount rates and exit cap rates. Significant decreases in EBITDA multiples or indicative quotes in isolation would result in a significantly lower fair value measurement. Significant increases in discount rates and exit cap rates in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s investments in bonds and loans are market yields and indicative quotes. Significant increases in market yields in isolation would result in a significantly lower fair value measurement. Significant decreases in indicative quotes in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s investments in CLOs and other investments include EBITDA multiples, discount rates, default rates, recovery rates and indicative quotes. Significant decreases in EBITDA multiples, recovery rates or indicative quotes in isolation would result in a significantly lower fair value measurement. Significant increases in discount rates or default rates in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s restricted securities of Consolidated Funds include indicative quotes. Significant decreases in indicative quotes in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s loans payable of Consolidated Funds are discount rates, default rates, recovery rates and indicative quotes. Significant increases in discount rates or default rates in isolation would result in a significantly lower fair value measurement, while a significant increase in recovery rates and indicative quotes in isolation would result in a significantly higher fair value. The significant unobservable inputs used in the fair value measurement of the Partnership’s loans payable of a consolidated real estate VIE are discount to expected payment and discount rate. A significant increase in either of these inputs in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s derivative instruments of Consolidated Funds include indicative quotes. Significant decreases in indicative quotes in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s contingent consideration are an assumed percentage of total potential contingent payments and discount rate. A significant decrease in the assumed percentage of total potential contingent payments or increase in discount rate in isolation would result in a significantly lower fair value measurement.

Accrued Performance Fees

Accrued Performance Fees	9 Months Ended
	Sep. 30, 2016
Deferred Costs [Abstract]
Accrued Performance Fees	Accrued Performance Fees The components of accrued performance fees are as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Corporate Private Equity $ 1,677.3 $ 2,096.9 Global Market Strategies 81.5 78.3 Real Assets 435.3 313.6 Investment Solutions 582.5 499.8 Total $ 2,776.6 $ 2,988.6 Approximately 29% of accrued performance fees at September 30, 2016 are related to Carlyle Partners V, L.P. and Carlyle Asia Partners III, L.P., two of the Partnership's Corporate Private Equity funds. Approximately 54% of accrued performance fees at December 31, 2015 , are related to Carlyle Partners V, L.P., Carlyle Europe Partners III, L.P. and Carlyle Asia Partners III, L.P., three of the Partnership’s Corporate Private Equity funds. Accrued performance fees are shown gross of the Partnership’s accrued performance fee-related compensation (see Note 9), and accrued giveback obligations, which are separately presented in the condensed consolidated balance sheets. The components of the accrued giveback obligations are as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Corporate Private Equity $ (5.0 ) $ (36.6 ) Real Assets (219.4 ) (215.4 ) Total $ (224.4 ) $ (252.0 ) During the nine months ended September 30, 2016 , the Partnership paid $47.3 million to satisfy a giveback obligation related to one of its Corporate Private Equity funds. Substantially all of the giveback obligation was paid by current and former senior Carlyle professionals. Performance Fees The performance fees included in revenues are derived from the following segments: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 (Dollars in millions) Corporate Private Equity $ 186.5 $ (257.8 ) $ 283.0 $ 522.4 Global Market Strategies 17.8 (52.3 ) 26.8 (29.9 ) Real Assets (19.1 ) 32.1 198.6 3.3 Investment Solutions 29.5 31.4 62.4 125.5 Total $ 214.7 $ (246.6 ) $ 570.8 $ 621.3 Approximately 50% , or $107.9 million , of performance fees for the three months ended September 30, 2016 are related to the following funds along with total revenue recognized: • Carlyle Partners VI, L.P. (Corporate Private Equity segment) - $208.9 million , • Carlyle Asia Partners III, L.P. (Corporate Private Equity segment) - $(20.8) million , and • Carlyle Realty Partners V, L.P. (Real Assets segment) - $(50.9) million . Approximately 59% , or $338.2 million , of performance fees for the nine months ended September 30, 2016 are related to the following funds along with total revenue recognized: • Carlyle Partners V, L.P. (Corporate Private Equity segment) - $129.7 million , • Carlyle Partners VI, L.P. (Corporate Private Equity segment) - $317.3 million , and • Carlyle Realty Partners VII, L.P. (Real Assets segment) - $111.2 million . Approximately 97% , or $(239.5) million , of performance fees for the three months ended September 30, 2015 were related to the following funds along with total revenue recognized: • Carlyle Partners IV, L.P. (Corporate Private Equity segment) - $(25.1) million , • Carlyle Partners V, L.P. (Corporate Private Equity segment) - $(120.0) million , • Carlyle Asia Growth Partners IV, L.P. (Corporate Private Equity segment) - $(53.5) million , • Carlyle Energy Mezzanine Opportunity Fund (Global Market Strategies segment) - $(43.7) million , • Carlyle Realty Partners V, L.P. (Real Assets segment) - $38.5 million , • Carlyle Realty Partners VI, L.P. (Real Assets segment) - $29.7 million , and • Carlyle/Riverstone Global Energy and Power Fund IV, L.P. (Real Assets segment) - $(41.0) million . Approximately 33% , or $206.3 million , of performance fees for the nine months ended September 30, 2015 are related to the following funds along with total revenue recognized: • Carlyle Partners V, L.P. (Corporate Private Equity segment) - $154.2 million , • Carlyle Europe Partners III, L.P. (Corporate Private Equity segment) - $202.0 million , • Carlyle Realty Partners VI, L.P. (Real Assets segment) - $96.6 million , • Carlyle/Riverstone Global Energy and Power Fund III, L.P. (Real Assets segment) - $(102.1) million , and • Carlyle/Riverstone Global Energy and Power Fund IV, L.P. (Real Assets segment) - $(63.7) million .

Investments

Investments	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investments	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. Strategic Investment in NGP On December 20, 2012, the Partnership entered into separate purchase agreements with ECM Capital, L.P. and Barclays Natural Resource Investments, a division of Barclays Bank PLC (“BNRI”), pursuant to which the Partnership agreed to invest in NGP Management Company, L.L.C. (“NGP Management” and, together with its affiliates, “NGP”). NGP is an Irving, Texas-based energy investor. The Partnership’s equity interests in NGP Management entitle the Partnership to an allocation of income equal to 55.0% of the management fee-related revenues of the NGP entities that serve as the advisors to certain private equity funds, and future interests in the general partners of certain future carry funds advised by NGP that entitle the Partnership to an allocation of income equal to 47.5% of the carried interest received by such fund general partners. For periods prior to 2015, the Partnership’s allocation of income related to management fee-related revenues of NGP was 47.5% . This increase in the allocation of income did not result in a change in accounting for the investment as an equity method investment. The Partnership has an option, exercisable by the Partnership in 2024, to purchase from ECM Capital, L.P. and its affiliates, for a formulaic purchase price in cash based upon a measure of the earnings of NGP, the remaining equity interests in NGP Management. In July 2014, the Partnership exercised another option granted in 2012 to acquire from BNRI its interests in the general partner of the NGP Natural Resources X, L.P. fund (“NGP X”), which entitles the Partnership to an allocation of income equal to 40% of the carried interest received by the fund’s general partner. The Partnership additionally acquired certain general partner investments in the NGP X fund. As of September 30, 2016 the carrying value of the Partnership’s investment in the NGP X general partner attributable to the carried interest allocation was approximately $9.0 million . As of December 31, 2015 , there was no carrying value of the Partnership’s investment in the NGP X general partner attributable to the carried interest allocation. The carrying value of the Partnership’s general partner investments in the NGP X fund not attributable to the carried interest allocation was $19.7 million as of September 30, 2016 and $18.7 million as of December 31, 2015. In consideration for these interests and option, the Partnership paid an aggregate of $504.6 million in cash to ECM Capital, L.P. and BNRI, and issued 996,572 Carlyle Holdings partnership units to ECM Capital, L.P. that vest ratably over a period of five years . The transaction also includes contingent consideration payable to ECM Capital, L.P. of up to $45.0 million in cash, 597,944 Carlyle Holdings partnership units that were issued at closing but vest upon the achievement of performance conditions, and contingently issuable Carlyle Holdings partnership units with a value up to $15.0 million that will be issued if the performance conditions are met. The contingent consideration is payable in 2018, depending on NGP’s achievement of certain business performance goals. Additionally, the transaction included contingent consideration payable to BNRI of $183.0 million , which was paid in January 2016 with $63.0 million in cash and $120.0 million by a six year promissory note issued by the Partnership. The promissory note will accrue interest at the three month LIBOR plus 2.5% and mature on January 1, 2022 (see Note 7). The Partnership also has a senior advisor consulting agreement with the chairman of NGP and granted in 2012 deferred restricted common units to a group of NGP personnel who are providing the Partnership with consulting services. The Partnership accounts for its investment in NGP Management under the equity method of accounting. The Partnership recorded its investment in NGP Management initially at cost, excluding any elements in the transaction that were deemed to be compensatory arrangements to NGP personnel. The Carlyle Holdings partnership units issued in the transaction, the contingently issuable Carlyle Holdings partnership units, and the deferred restricted common units were deemed to be compensatory arrangements; these elements are recognized as an expense under applicable U.S. GAAP. The Partnership records investment income (loss) for its equity income allocation from NGP management fees and performance fees, and also records its share of any allocated expenses from NGP Management, expenses associated with the compensatory elements of the transaction, and the amortization of the basis differences related to the definitive-lived identifiable intangible assets of NGP Management. 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 ) The difference between the Partnership’s remaining carrying value of its investment and its share of the underlying net assets of the investee was $43.6 million and $85.0 million as of September 30, 2016 and December 31, 2015 , respectively; these differences are amortized over a period of 10 years from the initial investment date. 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 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 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 Investments in CLOs and Other Investments Investments in CLOs and other investments as of September 30, 2016 and December 31, 2015 primarily consisted of $157.8 million and $9.3 million , respectively, of investments in CLO senior and subordinated notes, derivative instruments, and corporate mezzanine securities and bonds. Investments of Consolidated Funds The Partnership consolidates the financial positions and results of operations of certain CLOs in which it is the primary beneficiary. During the nine months ended September 30, 2016 , the Partnership formed two new CLOs in which it is the primary beneficiary. As of September 30, 2016 , the total assets of these CLOs included in the Partnership’s condensed consolidated financial statements were approximately $0.9 billion . There were no individual investments with a fair value greater than five percent of the Partnership’s total assets for any period presented. 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 Net Investment Gains (Losses) of Consolidated Funds Net investment gains (losses) of Consolidated Funds include net realized gains (losses) from sales of investments and unrealized gains (losses) resulting from changes in fair value of the Consolidated Funds’ investments. 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 The following table presents realized and unrealized gains (losses) earned from investments of the Consolidated Funds: Three Months Ended 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

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill The following table summarizes the carrying amount of intangible assets as of September 30, 2016 and December 31, 2015 : As of September 30, 2016 December 31, 2015 (Dollars in millions) Acquired contractual rights $ 386.2 $ 830.4 Acquired trademarks 6.6 6.6 Accumulated amortization (324.7 ) (739.6 ) Finite-lived intangible assets, net 68.1 97.4 Goodwill 38.5 38.3 Intangible assets, net $ 106.6 $ 135.7 The following table summarizes the changes in the carrying amount of goodwill by segment as of September 30, 2016 . There is no goodwill associated with the Partnership’s Corporate Private Equity and Real Assets segments. Global Investment Total (Dollars in millions) Balance as of December 31, 2015 $ 28.0 $ 10.3 $ 38.3 Foreign currency translation — 0.2 0.2 Balance as of September 30, 2016 $ 28.0 $ 10.5 $ 38.5 As discussed in Note 2, the Partnership reviews its intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. During the nine months ended September 30, 2016 and 2015 , the Partnership evaluated for indicators of impairment certain definite-lived intangible assets associated with acquired contractual rights for fee income. These intangible assets are included in the Global Market Strategies segment. The Partnership recorded impairment losses, primarily associated with the open-ended credit hedge funds in the Global Market Strategies segment of $198.4 million during the nine months ended September 30, 2015 to reduce the carrying value of the intangible assets to their estimated fair value. No impairment loss was recorded during the nine months ended September 30, 2016 . The fair value determination was based on a probability-weighted discounted cash flow model. The fair value measurement was based on significant inputs not observable in the market (primarily discount rates ranging from 10% to 20% ) and thus represented Level III measurements as defined in the accounting guidance for fair value measurements. The impairment loss was included in general, administrative and other expenses in the accompanying condensed consolidated financial statements. Intangible asset amortization expense, excluding impairment losses, was $11.1 million and $20.4 million during the three months ended September 30, 2016 and 2015 , respectively, and $30.4 million and $64.1 million during the nine months ended September 30, 2016 and 2015 , respectively, and is included in general, administrative, and other expenses in the condensed consolidated statements of operations. The following table summarizes the expected amortization expense for October 1, 2016 through December 31, 2020 and thereafter (Dollars in millions): 2016 $ 11.0 2017 27.3 2018 15.8 2019 5.6 2020 5.6 Thereafter 2.8 $ 68.1

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Borrowings	Borrowings The Partnership borrows and enters into credit agreements for its general operating and investment purposes. The Partnership’s debt obligations consist of the following (Dollars in millions): As of September 30, 2016 As of December 31, 2015 Borrowing Carrying Borrowing Carrying Senior Credit Facility Term Loan Due 5/05/2020 $ 25.0 $ 24.7 $ 25.0 $ 24.6 CLO Term Loans (See below) 34.7 34.7 13.7 13.7 3.875% Senior Notes Due 2/01/2023 500.0 497.0 500.0 496.7 5.625% Senior Notes Due 3/30/2043 600.0 600.8 600.0 600.7 Promissory Note Due 1/01/2022 120.0 120.0 — — Total debt obligations $ 1,279.7 $ 1,277.2 $ 1,138.7 $ 1,135.7 Senior Credit Facility As of September 30, 2016 , the senior credit facility included $25.0 million in a term loan and $750.0 million in a revolving credit facility. As of September 30, 2016 , the term loan and revolving credit facility were scheduled to mature on May 5, 2020 . Principal amounts outstanding under the term loan and revolving credit facility accrue interest, at the option of the borrowers, either (a) at an alternate base rate plus an applicable margin not to exceed 0.75% , or (b) at LIBOR plus an applicable margin not to exceed 1.75% (at September 30, 2016 , the interest rate was 1.66% ). There was no amount outstanding under the revolving credit facility at September 30, 2016 . Interest expense under the senior credit facility was not significant for the three and nine months ended September 30, 2016 and 2015 . The fair value of the outstanding balances of the term loan and revolving credit facility at September 30, 2016 and December 31, 2015 approximated par value based on current market rates for similar debt instruments and are classified as Level III within the fair value hierarchy. CLO Term Loans For certain of our CLOs, the Partnership finances a portion of its investment in the CLOs through the proceeds received from term loans with financial institutions. The Partnership's outstanding CLO term loans consist of the following (Dollars in millions): Formation Date Borrowing Borrowing Outstanding December 31, 2015 Maturity Date (2) Interest Rate as of September 30, 2016 October 3, 2013 $ 14.1 (1) $ 13.7 (1) September 28, 2018 1.75% (3) June 7, 2016 20.6 — July 15, 2027 2.59% (4) $ 34.7 $ 13.7 (1) Original borrowing amount of €12.6 million . (2) Maturity date is earlier of date indicated or the date that the CLO is dissolved. (3) Incurs interest at EURIBOR plus 1.75% . (4) Incurs interest at the weighted average rate of the underlying senior notes. Interest income on the underlying collateral approximated the amount of interest expense and was not significant for the three and nine months ended September 30, 2016 . The CLO term loans are secured by the Partnership's investments in the respective CLO, have a general unsecured interest in the Carlyle entity that manages the CLO, and do not have recourse to any other Carlyle entity. Interest expense on these term loans was not significant for the three and nine months ended September 30, 2016 and 2015 . The fair value of the outstanding balance of the CLO term loans at September 30, 2016 approximated par value based on current market rates for similar debt instruments. These CLO term loans are classified as Level III within the fair value hierarchy. 3.875% Senior Notes In January 2013, an indirect finance subsidiary of the Partnership issued $500.0 million in aggregate principal amount of 3.875% senior notes due February 1, 2023 at 99.966% of par. Interest is payable semi-annually on February 1 and August 1, beginning August 1, 2013 . This subsidiary may redeem the senior notes in whole at any time or in part from time to time at a price equal to the greater of 100% of the principal amount of the notes being redeemed and the sum of the present values of the remaining scheduled payments of principal and interest on any notes being redeemed discounted to the redemption date on a semi-annual basis at the Treasury rate plus 30 basis points plus accrued and unpaid interest on the principal amounts being redeemed to the redemption date. Interest expense on the notes was $5.0 million for both the three months ended September 30, 2016 and 2015 and $14.9 million for both the nine months ended September 30, 2016 and 2015 . At September 30, 2016 and December 31, 2015 , the fair value of the notes, including accrued interest, was approximately $526.2 million and $515.2 million , respectively, based on indicative quotes. The notes are classified as Level II within the fair value hierarchy. 5.625% Senior Notes In March 2013, an indirect finance subsidiary of the Partnership issued $400.0 million in aggregate principal amount of 5.625% senior notes due March 30, 2043 at 99.583% of par. Interest is payable semi-annually on March 30 and September 30, beginning September 30, 2013 . This subsidiary may redeem the senior notes in whole at any time or in part from time to time at a price equal to the greater of 100% of the principal amount of the notes being redeemed and the sum of the present values of the remaining scheduled payments of principal and interest on any notes being redeemed discounted to the redemption date on a semi-annual basis at the Treasury rate plus 40 basis points plus accrued and unpaid interest on the principal amounts being redeemed to the redemption date. In March 2014, an indirect finance subsidiary of the Partnership issued $200.0 million of 5.625% Senior Notes due March 30, 2043 at 104.315% of par. These notes were issued as additional 5.625% Senior Notes and are treated as a single class with the already outstanding $400.0 million aggregate principal amount of these senior notes. Interest expense on the notes was $8.4 million for both the three months ended September 30, 2016 and 2015 and $25.3 million for both the nine months ended September 30, 2016 and 2015 . At September 30, 2016 and December 31, 2015 , the fair value of the notes, including accrued interest, was approximately $652.5 million and $646.6 million , respectively, based on indicative quotes. The notes are classified as Level II within the fair value hierarchy. Promissory Note On January 1, 2016, the Partnership issued a $ 120.0 million promissory note to BNRI as a result of a contingent consideration arrangement entered into in 2012 between the Partnership and BNRI as part of the Partnership's strategic investment in NGP (see Note 5). Interest on the promissory note accrues at the three month LIBOR plus 2.50% ( 3.13% at September 30, 2016 ). The Partnership may prepay the promissory note in whole or in part at any time without penalty. The promissory note is scheduled to mature on January 1, 2022. Interest expense on the promissory note was not significant for the three and nine months ended September 30, 2016 and 2015 . The fair value of the outstanding balance of the promissory note at September 30, 2016 approximated par value based on current market rates for similar debt instruments and is classified as Level III within the fair value hierarchy. Debt Covenants The Partnership is subject to various financial covenants under its loan agreements including, among other items, maintenance of a minimum amount of management fee-earning assets. The Partnership is also subject to various non-financial covenants under its loan agreements and the indentures governing its senior notes. The Partnership was in compliance with all financial and non-financial covenants under its various loan agreements as of September 30, 2016 . The consolidated real estate VIE was not in compliance with the debt covenants related to substantially all of its loans payable as of September 30, 2016 (see Note 16); such violations do not cause a default or event of default under the Partnership’s senior credit facility, CLO term loans, senior notes, or the loans payable of Consolidated Funds. Loans Payable of Consolidated Funds Loans payable of Consolidated Funds represent amounts due to holders of debt securities issued by the CLOs. Several of the CLOs issued preferred shares representing the most subordinated interest, however these tranches are mandatorily redeemable upon the maturity dates of the senior secured loans payable, and as a result have been classified as liabilities and are included in loans payable of Consolidated Funds in the condensed consolidated balance sheets. As of September 30, 2016 and December 31, 2015 , the following borrowings were outstanding, which includes preferred shares classified as liabilities (Dollars in millions): As of September 30, 2016 Borrowing Fair Value Weighted Weighted Senior secured notes $ 3,082.5 $ 3,079.5 2.37 % 9.82 Subordinated notes, preferred shares and other 193.4 173.9 N/A (a) 8.64 Total $ 3,275.9 $ 3,253.4 As of December 31, 2015 Borrowing Fair Value Weighted Weighted Senior secured notes $ 16,301.0 $ 15,915.5 1.98 % 9.54 Subordinated notes, preferred shares and other 993.0 1,112.4 N/A (a) 8.64 Combination notes 20.0 18.8 N/A (b) 7.43 Total $ 17,314.0 $ 17,046.7 (a) The subordinated notes and preferred shares do not have contractual interest rates, but instead receive distributions from the excess cash flows of the CLOs. (b) The combination notes do not have contractual interest rates and have recourse only to the securities specifically held to collateralize such combination notes. Loans payable of the CLOs are collateralized by the assets held by the CLOs and the assets of one CLO may not be used to satisfy the liabilities of another. This collateral consisted of cash and cash equivalents, corporate loans, corporate bonds and other securities. As of September 30, 2016 and December 31, 2015 , the fair value of the CLO assets was $3.6 billion and $18.6 billion , respectively.

Contingent Consideration

Contingent Consideration	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Contingent Consideration	Contingent Consideration The Partnership has contingent consideration obligations related to its business acquisitions and strategic investments. The changes in the contingent consideration liabilities are as follows: Rollforward For The Three Months Ended September 30, 2016 Amounts payable to the sellers who are Carlyle professionals Performance-based Employment-based Contingent cash and other Total (Dollars in millions) Balance, beginning of period $ 9.2 $ 46.9 $ 47.0 $ 103.1 Change in carrying value 0.1 (1.7 ) (1.3 ) (2.9 ) Payments (9.3 ) — (0.7 ) (10.0 ) Balance, end of period $ — $ 45.2 $ 45.0 $ 90.2 Rollforward For The Nine Months Ended September 30, 2016 Amounts payable to the sellers who are Carlyle professionals Performance-based Employment-based Contingent cash and other Total (Dollars in millions) Balance, beginning of period $ 8.7 $ 80.4 $ 221.5 $ 310.6 Change in carrying value 0.6 (22.6 ) 7.5 (14.5 ) Payments (9.3 ) (12.6 ) (64.0 ) (a) (85.9 ) Conversion to note payable — — (120.0 ) (a) (120.0 ) Balance, end of period $ — $ 45.2 $ 45.0 $ 90.2 Rollforward For The Three Months Ended September 30, 2015 Amounts payable to the sellers who are Carlyle professionals Performance-based Employment-based Contingent cash and other Total (Dollars in millions) Balance, beginning of period $ 28.5 $ 101.6 $ 224.1 $ 354.2 Change in carrying value 0.2 (11.2 ) (7.8 ) (18.8 ) Payments (20.2 ) — (1.1 ) (21.3 ) Balance, end of period $ 8.5 $ 90.4 $ 215.2 $ 314.1 Rollforward For The Nine Months Ended September 30, 2015 Amounts payable to the sellers who are Carlyle professionals Total Performance-based Employment-based Contingent cash and other (Dollars in millions) Balance, beginning of period $ 26.8 $ 156.8 $ 201.0 $ 384.6 Change in carrying value 1.9 (60.9 ) 16.5 (a) (42.5 ) Payments (20.2 ) (3.3 ) (2.3 ) (25.8 ) Issuance of equity — (2.2 ) — (2.2 ) Balance, end of period $ 8.5 $ 90.4 $ 215.2 $ 314.1 (a) Refer to Note 5 for information on the contingent consideration payable to BNRI from the strategic investment in NGP. The fair value of the performance-based contingent cash consideration payable to the sellers who are Carlyle professionals has been recorded in due to affiliates in the accompanying condensed consolidated balance sheets. These payments are not contingent upon the Carlyle professional being employed by Carlyle at the time that the performance conditions are met. Changes in the fair value of these amounts are recorded in other non-operating expense (income) in the condensed consolidated statements of operations. The portion of the contingent consideration payment attributable to the initial amount recorded as part of the consideration transferred is classified as cash flows from financing activities. The portion of the contingent consideration payment that is attributable to the subsequent changes in the fair value of the contingent consideration is classified as cash flows from operating activities in the condensed consolidated statements of cash flows. The amount of employment-based contingent cash consideration payable to the sellers who are Carlyle professionals has been recorded as accrued compensation and benefits in the accompanying condensed consolidated balance sheets. Changes in the value of these amounts are recorded as compensation expense in the condensed consolidated statements of operations. The fair value of contingent consideration payable to non-Carlyle personnel is included in accounts payable, accrued expenses and other liabilities, or due to affiliates for amounts payable to NGP, in the accompanying condensed consolidated balance sheets. Changes in the fair value of this contingent consideration are recorded in other non-operating expense (income), or investment income in the case of amounts payable to NGP, in the condensed consolidated statements of operations. The fair values of the performance-based contingent cash consideration for business acquisitions were based on probability-weighted discounted cash flow models. These fair value measurements are based on significant inputs not observable in the market and thus represent Level III measurements as defined in the accounting guidance for fair value measurement. Refer to Note 3 for additional disclosures related to the fair value of these instruments as of September 30, 2016 and December 31, 2015 . Based on the terms of the underlying contracts, the maximum amounts that could be paid from contingent cash obligations associated with business acquisitions and the strategic investment in NGP Management as of September 30, 2016 is $ 369.4 million versus the liabilities recognized on the balance sheet of $ 90.2 million . Based on the historical and projected performance of the Partnership's acquisitions, the Partnership believes that approximately $ 310.3 million of the maximum amounts of the contingent cash obligations are unlikely to be paid. Some of the employment-based contingent cash consideration agreements do not contain provisions limiting the amount that could be paid by the Partnership. For purposes of the estimate above, the Partnership has used its current estimate of the amount to be paid upon the determination dates for such payments. In the consolidated financial statements, the Partnership records the performance-based contingent cash consideration from business acquisitions at fair value at each reporting period. For the employment-based contingent cash consideration, the Partnership accrues the compensation liability over the implied service period.

Accrued Compensation and Benefi

Accrued Compensation and Benefits	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Accrued Compensation and Benefits	Accrued Compensation and Benefits Accrued compensation and benefits consist of the following: As of September 30, 2016 December 31, 2015 (Dollars in millions) Accrued performance fee-related compensation $ 1,456.7 $ 1,511.9 Accrued bonuses 247.2 211.9 Employment-based contingent cash consideration 45.2 80.4 Other 108.4 149.0 Total $ 1,857.5 $ 1,953.2

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Capital Commitments The Partnership and its unconsolidated affiliates have unfunded commitments to entities within the following segments as of September 30, 2016 (Dollars in millions): Unfunded Corporate Private Equity $ 1,701.8 Global Market Strategies 515.2 Real Assets 660.2 Investment Solutions 108.2 Total $ 2,985.4 Of the $3.0 billion of unfunded commitments, approximately $2.6 billion is subscribed individually by senior Carlyle professionals, advisors and other professionals, with the balance funded directly by the Partnership. In addition to these unfunded commitments, the Partnership may from time to time exercise its right to purchase additional interests in its investment funds that become available in the ordinary course of their operations. Guaranteed Loans On August 4, 2001, the Partnership entered into an agreement with a financial institution pursuant to which the Partnership is the guarantor on a credit facility for eligible employees investing in Carlyle sponsored funds. This credit facility renews on an annual basis, allowing for annual incremental borrowings up to an aggregate of $11.3 million , and accrues interest at the lower of the prime rate, as defined, or three-month LIBOR plus 3% , reset quarterly ( 3.61% weighted-average rate at September 30, 2016 ). As of September 30, 2016 and December 31, 2015 , approximately $9.5 million and $9.4 million , respectively, were outstanding under the credit facility and payable by the employees. The amount funded by the Partnership under this guarantee as of September 30, 2016 was not material. The Partnership believes the likelihood of any material funding under this guarantee to be remote. The fair value of this guarantee is not significant to the consolidated financial statements. Contingent Obligations (Giveback) A liability for potential repayment of previously received performance fees of $224.4 million at September 30, 2016 , is shown as accrued giveback obligations in the condensed consolidated balance sheets, representing the giveback obligation that would need to be paid if the funds were liquidated at their current fair values at September 30, 2016 . However, the ultimate giveback obligation, if any, does not become realized until the end of a fund’s life (see Note 2). The Partnership has recorded $6.1 million and $23.8 million of unbilled receivables from former and current employees and senior Carlyle professionals as of September 30, 2016 and December 31, 2015 , respectively, related to giveback obligations, which are included in due from affiliates and other receivables, net in the accompanying condensed consolidated balance sheets. The receivables are collateralized by investments made by individual senior Carlyle professionals and employees in Carlyle-sponsored funds. In addition, $366.4 million and $367.2 million have been withheld from distributions of carried interest to senior Carlyle professionals and employees for potential giveback obligations as of September 30, 2016 and December 31, 2015 , respectively. Such amounts are held by entities not included in the accompanying condensed consolidated balance sheets. Current and former senior Carlyle professionals and employees are personally responsible for their giveback obligations. As of September 30, 2016 , approximately $ 142.2 million of the Partnership's accrued giveback obligation is the responsibility of various current and former senior Carlyle professionals and other limited partners of the Carlyle Holdings partnerships, and the net accrued giveback obligation attributable to Carlyle Holdings is $ 82.2 million . If, at September 30, 2016 , all of the investments held by the Partnership’s Funds were deemed worthless, a possibility that management views as remote, the amount of realized and distributed carried interest subject to potential giveback would be $1.3 billion , on an after-tax basis where applicable. Leases The Partnership leases office space in various countries around the world and maintains its headquarters in Washington, D.C., where it leases its primary office space under a non-cancelable lease agreement expiring on July 31, 2026 . Office leases in other locations expire in various years from 2016 through 2032. These leases are accounted for as operating leases. Rent expense was approximately $13.9 million and $13.7 million for the three months ended September 30, 2016 and 2015 , respectively, and $41.3 million and $42.6 million for the nine months ended September 30, 2016 and 2015 , respectively, and is included in general, administrative and other expenses in the condensed consolidated statements of operations. The future minimum commitments for the leases are as follows (Dollars in millions): 2016 $ 13.7 2017 51.9 2018 47.6 2019 41.9 2020 39.8 Thereafter 292.9 $ 487.8 The Partnership records contractual escalating minimum lease payments on a straight-line basis over the term of the lease. Deferred rent payable under the leases was $59.7 million as of both September 30, 2016 and December 31, 2015 , and is included in accounts payable, accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets. Legal Matters In the ordinary course of business, the Partnership is a party to litigation, investigations, inquiries, employment-related matters, disputes and other potential claims. Certain of these matters are described below. The Partnership is not currently able to estimate the reasonably possible amount of loss or range of loss, in excess of amounts accrued, for the matters that have not been resolved. The Partnership does not believe it is probable that the outcome of any existing litigation, investigations, disputes or other potential claims will materially affect the Partnership or these financial statements in excess of amounts accrued. The Partnership believes that the matters described below are without merit and intends to vigorously contest all such allegations for the matters that have not been resolved. Along with many other companies and individuals in the financial sector, the Partnership and Carlyle Mezzanine Partners, L.P. (“CMP”) are named as defendants in Foy v. Austin Capital , a case filed in June 2009, pending in the State of New Mexico’s First Judicial District Court, County of Santa Fe, which purports to be a qui tam suit on behalf of the State of New Mexico under the state Fraud Against Taxpayers Act (“FATA”). The suit alleges that investment decisions by New Mexico public investment funds were improperly influenced by campaign contributions and payments to politically connected placement agents. The plaintiffs seek, among other things, actual damages for lost income, rescission of the investment transactions described in the complaint and disgorgement of all fees received. In May 2011, the Attorney General of New Mexico moved to dismiss certain defendants including the Partnership and CMP on the grounds that separate civil litigation by the Attorney General is a more effective means to seek recovery for the State from these defendants. The Attorney General has brought two civil actions against certain of those defendants, not including the Partnership defendants. The Attorney General has stated that its investigation is continuing and it may bring additional civil actions. Foy v. Austin Capital was stayed while the plaintiff pursued an interlocutory appeal on the question of whether FATA could be applied retroactively to events that occurred prior to its effective date. In June 2015, the New Mexico Supreme Court ruled that FATA could be applied retroactively in certain circumstances, and activity related to the suit resumed in the fall of 2015. A new judge was appointed to hear the case and the Attorney General moved to dismiss the entire litigation so that the Attorney General can pursue its own recovery from the defendants in the action. A hearing on that motion to dismiss was held in April 2016. Carlyle Capital Corporation Limited (“CCC”) was a fund sponsored by Carlyle that invested in AAA-rated residential mortgage backed securities on a highly leveraged basis. In March of 2008, amidst turmoil throughout the mortgage markets and money markets, CCC filed for insolvency protection in Guernsey. The Guernsey liquidators who took control of CCC in March 2008 filed a suit on July 7, 2010 against the Partnership, certain of its affiliates and the former directors of CCC in the Royal Court of Guernsey seeking more than $1.0 billion in damages in a case styled Carlyle Capital Corporation Limited v. Conway et al . The Guernsey liquidators allege that the Partnership and the CCC board of directors were negligent, grossly negligent or willfully mismanaged the CCC investment program and breached certain fiduciary duties allegedly owed to CCC and its shareholders. The liquidators further allege (among other things) that the directors and the Partnership put the interests of the Partnership ahead of the interests of CCC and its shareholders and gave priority to preserving and enhancing the Partnership’s reputation and its “brand” over the best interests of CCC. The trial, in the Royal Court of Guernsey, began in June 2016 and is expected to last until November 2016. A ruling is not expected until the second quarter of 2017. The Partnership currently is and expects to continue to be, from time to time, subject to examinations, formal and informal inquiries and investigations by various U.S. and non-U.S. governmental and regulatory agencies, including but not limited to, the SEC, Department of Justice, state attorneys general, FINRA, National Futures Association and the U.K. Financial Conduct Authority. The Partnership routinely cooperates with such examinations, inquiries and investigations, and they may result in the commencement of civil, criminal, or administrative or other proceedings against the Partnership or its personnel. For example, among various other requests for information, the SEC has requested information about: (i) the Partnership's historical practices relating to the acceleration of monitoring fees received from the Partnership's funds' portfolio companies, (ii) the Partnership's relationship with a third-party investment adviser to a registered investment company that has invested in various investment funds sponsored by the Partnership, and (iii) a complaint allegedly made by a former employee who has filed a claim against the Partnership in district court for wrongful termination of his employment. The Partnership is cooperating fully with the SEC's inquiries. A hedge fund and certain structured finance vehicles managed by an affiliate of the Partnership invested approximately $400 million in petroleum commodities that the Partnership believes were misappropriated by third parties outside the U.S. The Partnership is pursuing various remedies on behalf of the hedge fund and other structured finance vehicles. Through September 30, 2016, the Partnership has incurred approximately $5 million of legal and professional fees related to this matter. Although the amount and timing of any losses are uncertain, the Partnership has received a claim and redemption request from an investor and believes litigation or additional claims could arise and that the Partnership could incur significant additional costs or liabilities associated with this matter. It is not possible to predict the ultimate outcome of all pending investigations and legal proceedings and employment-related matters, and some of the matters discussed above involve claims for potentially large and/or indeterminate amounts of damages. Based on information known by management, management does not believe that as of the date of this filing the final resolutions of the matters above will have a material effect upon the Partnership’s condensed consolidated financial statements. However, given the potentially large and/or indeterminate amounts of damages sought in certain of these matters and the inherent unpredictability of investigations and litigations, it is possible that an adverse outcome in certain matters could, from time to time, have a material effect on the Partnership's financial results in any particular period. The Partnership accrues an estimated loss contingency liability when it is probable that such a liability has been incurred and the amount of the loss can be reasonably estimated. As of September 30, 2016 , the Partnership has estimated liabilities aggregating to $162 million for litigation-related contingencies, regulatory examinations and inquiries, and other matters. The Partnership evaluates its outstanding legal and regulatory proceedings and other matters each quarter to assess its loss contingency accruals, and makes adjustments in such accruals, upwards or downward, as appropriate, based on management's best judgment after consultation with counsel. There is no assurance that the Partnership's accruals for loss contingencies will not need to be adjusted in the future or that, in light of the uncertainties involved in such matters, the ultimate resolution of these matters will not significantly exceed the accruals that the Partnership has recorded. Other Contingencies From 2007 to 2009, a Luxembourg subsidiary of CEREP I, a real estate fund, received proceeds from the sale of real estate located in Paris, France. Based on a provision in the Luxembourg-France tax treaty, it did not report or pay tax in France on gain from the sale. The French tax authorities asserted that CEREP I was ineligible to claim exemptions from French tax under the tax treaty, and issued a tax assessment seeking to collect taxes, interest and penalties. On April 15, 2015, the French tax court issued an opinion in this matter that was adverse to CEREP I, holding the Luxembourg property company liable for approximately €105 million (including penalties and interest accrued since the beginning of the tax dispute). The Partnership disagreed with the outcome and filed a petition of appeal on July 3, 2015. In 2015, in satisfaction of the obligation to the French government, CEREP I paid approximately €30 million of the tax obligations and the Partnership paid approximately €75 million in its capacity as a guarantor. CEREP I has approximately €1 million in net assets as of September 30, 2016 . Additionally, the French Ministry of Justice is continuing its investigation of the actions of the Luxembourg property company and its former directors, managers and representatives in claiming the tax treaty exemptions. The Partnership was required to provide a financial guarantee to the French government in July 2012 for the amount of French tax assessed against CEREP I. CEREP I recognized a loss of approximately $ 34 million which was included in net investment gains/losses of Consolidated Funds for the three months ended March 31, 2015 and this amount reduced net income attributable to Carlyle Holdings in the Partnership’s condensed consolidated financial statements for that period. In 2013 and 2014, the Partnership had previously recognized losses of approximately €42 million for the French tax matter, which were reflected in net investment gains/losses of Consolidated Funds and reduced net income attributable to Carlyle Holdings. Restructuring During the nine months ended September 30, 2016 , the Partnership decided to restructure its Investment Solutions segment to focus on private market secondaries, primary investments, co-investment and managed account activities and, given the challenging market environment, discontinue its fund of hedge funds and liquid alternative initiatives at Diversified Global Asset Management Corporation (“DGAM”). As a result, during the three and nine months ended September 30, 2016 , the Partnership incurred $0.6 million and $ 9.5 million , respectively, of employee separation and other contract termination expenses, of which $ 6.0 million was paid as of September 30, 2016 . The Partnership estimates that it will incur an additional $ 1.1 million of wind down expenses. The majority of these expenses relate to employee separation. Transaction with ESG On October 31, 2016, the Partnership closed a transaction with the founders of Emerging Sovereign Group and its subsidiaries and affiliates (collectively, “ESG”) and transferred the Partnership's 55% ownership interest in ESG to its founders. As of September 30, 2016, the carrying value of the contingent consideration liability for the Partnership's obligation to purchase the 45% ownership interest in 2020 (or after) was $49.5 million , substantially all of which is included in accrued compensation and benefits in the accompanying consolidated balance sheet (See Note 8). The Partnership also has $22.4 million of intangible assets and $28.0 million of goodwill related to its 2011 acquisition of its 55% ownership interest in ESG as of September 30, 2016. ESG's remaining assets and liabilities as of September 30, 2016 and its income before provision for income taxes for the nine months ended September 30, 2016 were not material to the Partnership’s condensed consolidated financial statements. There was no material gain or loss associated with the transfer of the interests to ESG. Indemnifications In the normal course of business, the Partnership and its subsidiaries enter into contracts that contain a variety of representations and warranties and provide general indemnifications. The Partnership’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Partnership that have not yet occurred. However, based on experience, the Partnership believes the risk of material loss to be remote. Risks and Uncertainties Carlyle’s funds seek investment opportunities that offer the possibility of attaining substantial capital appreciation. Certain events particular to each industry in which the underlying investees conduct their operations, as well as general economic conditions, may have a significant negative impact on the Partnership’s investments and profitability. Such events are beyond the Partnership’s control, and the likelihood that they may occur and the effect on the Partnership cannot be predicted. Furthermore, certain of the funds’ investments are made in private companies and there are generally no public markets for the underlying securities at the current time. The funds’ ability to liquidate their publicly-traded investments are often subject to limitations, including discounts that may be required to be taken on quoted prices due to the number of shares being sold. The funds’ ability to liquidate their investments and realize value is subject to significant limitations and uncertainties, including among others currency fluctuations and natural disasters. The Partnership and the funds make investments outside of the United States. Investments outside the United States may be subject to less developed bankruptcy, corporate, partnership and other laws (which may have the effect of disregarding or otherwise circumventing the limited liability structures potentially causing the actions or liabilities of one fund or a portfolio company to adversely impact the Partnership or an unrelated fund or portfolio company). Non-U.S. investments are subject to the same risks associated with the Partnership’s U.S. investments as well as additional risks, such as fluctuations in foreign currency exchange rates, unexpected changes in regulatory requirements, heightened risk of political and economic instability, difficulties in managing non-U.S. investments, potentially adverse tax consequences and the burden of complying with a wide variety of foreign laws. Furthermore, Carlyle is exposed to economic risk concentrations related to certain large investments as well as concentrations of investments in certain industries and geographies. Additionally, the Partnership encounters credit risk. Credit risk is the risk of default by a counterparty in the Partnership’s investments in debt securities, loans, leases and derivatives that result from a borrower’s, lessee’s or derivative counterparty’s inability or unwillingness to make required or expected payments. The Partnership considers cash, cash equivalents, securities, receivables, equity method investments, accounts payable, accrued expenses, other liabilities, loans, senior notes, assets and liabilities of Consolidated Funds and contingent and other consideration for acquisitions to be its financial instruments. Except for the senior notes, the carrying amounts reported in the condensed consolidated balance sheets for these financial instruments equal or closely approximate their fair values. The fair value of the senior notes is disclosed in Note 7.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Due from Affiliates and Other Receivables, Net The Partnership had the following due from affiliates and other receivables at September 30, 2016 and December 31, 2015 : As of September 30, 2016 December 31, 2015 (Dollars in millions) Unbilled receivable for giveback obligations from current and former employees $ 6.1 $ 23.8 Notes receivable and accrued interest from affiliates 78.8 7.3 Other receivables from unconsolidated funds and affiliates, net 118.4 164.2 Total $ 203.3 $ 195.3 Notes receivable represent loans that the Partnership has provided to certain unconsolidated funds to meet short-term obligations to purchase investments. Other receivables from certain of the unconsolidated funds and portfolio companies relate to management fees receivable from limited partners, advisory fees receivable and expenses paid on behalf of these entities. These costs represent costs related to the pursuit of actual or proposed investments, professional fees and expenses associated with the acquisition, holding and disposition of the investments. The affiliates are obligated at the discretion of the Partnership to reimburse the expenses. Based on management’s determination, the Partnership accrues and charges interest on amounts due from affiliate accounts at interest rates ranging up to 6.80% as of September 30, 2016 . The accrued and charged interest to the affiliates was not significant for any period presented. These receivables are assessed regularly for collectability and amounts determined to be uncollectible are charged directly to general, administrative and other expenses in the condensed consolidated statements of operations. A corresponding allowance for doubtful accounts is recorded and such amounts were not significant for any period presented. Due to Affiliates The Partnership had the following due to affiliates balances at September 30, 2016 and December 31, 2015 : As of September 30, 2016 December 31, 2015 (Dollars in millions) Due to affiliates of Consolidated Funds $ 0.2 $ 0.3 Due to non-consolidated affiliates 33.5 51.7 Performance-based contingent cash and equity consideration related to acquisitions 33.7 35.3 Amounts owed under the tax receivable agreement 140.6 141.7 Other 14.8 16.9 Total $ 222.8 $ 245.9 The Partnership has recorded obligations for amounts due to certain of its affiliates. The Partnership periodically offsets expenses it has paid on behalf of its affiliates against these obligations. The amount owed under the tax receivable agreement is related primarily to the acquisition by the Partnership of Carlyle Holdings partnership units in June 2015 and March 2014, respectively, as well as the exchange in May 2012 by CalPERS of its Carlyle Holdings partnership units for Partnership common units. Other Related Party Transactions In the normal course of business, the Partnership has made use of aircraft owned by entities controlled by senior Carlyle professionals. The senior Carlyle professionals paid for their purchases of aircraft and bear all operating, personnel and maintenance costs associated with their operation for personal use. Payment by the Partnership for the business use of these aircraft by senior Carlyle professionals and other employees, which is made at market rates, totaled $1.5 million and $1.4 million , for the three months ended September 30, 2016 and 2015 , respectively, and $3.7 million and $4.0 million for the nine months ended September 30, 2016 and 2015 , respectively. These fees are included in general, administrative, and other expenses in the condensed consolidated statements of operations. Senior Carlyle professionals and employees are permitted to participate in co-investment entities that invest in Carlyle funds or alongside Carlyle funds. In many cases, participation is limited by law to individuals who qualify under applicable legal requirements. These co-investment entities generally do not require senior Carlyle professionals and employees to pay management or performance fees, however, Carlyle professionals and employees are required to pay their portion of partnership expenses. Carried interest income from the funds can be distributed to senior Carlyle professionals and employees on a current basis, but is subject to repayment by the subsidiary of the Partnership that acts as general partner of the fund in the event that certain specified return thresholds are not ultimately achieved. The senior Carlyle professionals and certain other investment professionals have personally guaranteed, subject to certain limitations, the obligation of these subsidiaries in respect of this general partner obligation. Such guarantees are several and not joint and are limited to a particular individual’s distributions received. The Partnership does business with some of its portfolio companies; all such arrangements are on a negotiated basis. Substantially all revenue is earned from affiliates of Carlyle.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Partnership is generally organized as a series of pass through entities pursuant to the United States Internal Revenue Code. As such, the Partnership is not responsible for the tax liability due on certain income earned during the year. Such income is taxed at the unitholder and non-controlling interest holder level, and any income tax is the responsibility of the unitholders and is paid at that level. For income taxes on income earned for which the Partnership is responsible for the tax liability, the Partnership’s income tax expense (benefit) was $1.0 million and $(4.1) million for the three months ended September 30, 2016 and 2015 , respectively, and $32.7 million and $12.4 million for the nine months ended September 30, 2016 and 2015 , respectively. In the normal course of business, the Partnership is subject to examination by federal and certain state, local and foreign tax regulators. As of September 30, 2016 , the Partnership’s U.S. federal income tax returns for the years 2013 through 2015 are open under the normal three -year statute of limitations and therefore subject to examination. State and local tax returns are generally subject to audit from 2012 to 2015 . Foreign tax returns are generally subject to audit from 2009 to 2015 . Certain of the Partnership’s affiliates are currently under audit by federal, state and foreign tax authorities. The Partnership does not believe that the outcome of these audits will require it to record reserves for uncertain tax positions or that the outcome will have a material impact on the consolidated financial statements. The Partnership does not believe that it has any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within the next twelve months .

Non-controlling Interests in Co

Non-controlling Interests in Consolidated Entities	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Non-controlling Interests in Consolidated Entities	Non-controlling Interests in Consolidated Entities The components of the Partnership’s non-controlling interests in consolidated entities are as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Non-Carlyle interests in Consolidated Funds $ 0.5 $ 4,213.0 Non-Carlyle interests in majority-owned subsidiaries 313.2 394.3 Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions (112.5 ) (113.5 ) Non-controlling interests in consolidated entities $ 201.2 $ 4,493.8 The components of the Partnership’s non-controlling interests in income (loss) of consolidated entities are as follows: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 (Dollars in millions) Non-Carlyle interests in Consolidated Funds $ (1.2 ) $ (22.0 ) $ 0.2 $ 1,005.6 Non-Carlyle interests in majority-owned subsidiaries (24.7 ) (9.2 ) (21.6 ) (25.6 ) Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions (3.4 ) (22.5 ) (8.5 ) (85.1 ) Net income (loss) attributable to other non-controlling interests in consolidated entities (29.3 ) (53.7 ) (29.9 ) 894.9 Net income (loss) attributable to partners’ capital appropriated for CLOs — 30.0 — (22.9 ) Net income (loss) attributable to redeemable non-controlling interests in consolidated entities 0.2 (128.7 ) 0.1 (214.5 ) Non-controlling interests in income (loss) of consolidated entities $ (29.1 ) $ (152.4 ) $ (29.8 ) $ 657.5

Earnings Per Common Unit

Earnings Per Common Unit	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Common Unit	Earnings Per Common Unit Basic and diluted net income (loss) per common unit are calculated as follows: Three Months Ended Nine Months Ended Basic Diluted Basic Diluted Net income attributable to The Carlyle Group L.P. $ 800,000 $ 800,000 $ 15,300,000 $ 15,300,000 Incremental net (loss) income from assumed exchange of Carlyle Holdings partnership units — (5,700,000 ) — 8,100,000 Net income (loss) attributable to common units $ 800,000 $ (4,900,000 ) $ 15,300,000 $ 23,400,000 Weighted-average common units outstanding 83,602,503 312,534,968 82,062,633 306,981,103 Net income (loss) per common unit $ 0.01 $ (0.02 ) $ 0.19 $ 0.08 Three Months Ended Nine Months Ended Basic Diluted Basic Diluted Net loss attributable to The Carlyle Group L.P. $ (83,900,000 ) $ (83,900,000 ) $ (13,800,000 ) $ (13,800,000 ) Dilution of earnings due to participating securities with distribution rights 820,200 — 163,250 (1,423,000 ) Incremental net loss from assumed exchange of Carlyle Holdings partnership units — (250,900,000 ) — (67,800,000 ) Net loss attributable to common units $ (83,079,800 ) $ (334,800,000 ) $ (13,636,750 ) $ (83,023,000 ) Weighted-average common units outstanding 78,849,332 301,558,908 72,812,892 299,143,320 Net loss per common unit $ (1.05 ) $ (1.11 ) $ (0.19 ) $ (0.28 ) The weighted-average common units outstanding, basic and diluted, are calculated as follows: Three Months Ended Nine Months Ended Basic Diluted Basic Diluted The Carlyle Group L.P. weighted-average common units outstanding 83,602,503 83,602,503 82,062,633 82,062,633 Unvested deferred restricted common units — 3,569,302 — 3,181,825 Weighted-average vested Carlyle Holdings Partnership units — 224,826,988 — 221,377,938 Unvested Carlyle Holdings Partnership units — 536,175 — 358,707 Weighted-average common units outstanding 83,602,503 312,534,968 82,062,633 306,981,103 Three Months Ended Nine Months Ended Basic Diluted Basic Diluted The Carlyle Group L.P. weighted-average common units outstanding 78,849,332 78,849,332 72,812,892 72,812,892 Unvested deferred restricted common units — — — — Weighted-average vested Carlyle Holdings Partnership units — 216,864,271 — 216,956,438 Unvested Carlyle Holdings Partnership units — 5,845,305 — 9,373,990 Weighted-average common units outstanding 78,849,332 301,558,908 72,812,892 299,143,320 The Carlyle Group L.P. weighted-average common units outstanding includes vested deferred restricted common units and common units associated with acquisitions that have been earned for which issuance of the related common units is deferred until future periods. The Partnership applies the treasury stock method to determine the dilutive weighted-average common units represented by the unvested deferred restricted common units. Also included in the determination of dilutive weighted-average common units are contingently issuable Carlyle Holdings partnership units and common units associated with the Partnership's acquisitions. For purposes of determining the dilutive weighted-average common units, it is assumed that September 30, 2016 and 2015 represent the end of the contingency period. The Partnership applies the “if-converted” method to the vested Carlyle Holdings partnership units to determine the dilutive weighted-average common units outstanding. The Partnership applies the treasury stock method to the unvested Carlyle Holdings partnership units and the “if-converted” method on the resulting number of additional Carlyle Holdings partnership units to determine the dilutive weighted-average common units represented by the unvested Carlyle Holdings partnership units. In computing the dilutive effect that the exchange of Carlyle Holdings partnership units would have on earnings per common unit, the Partnership considered that net income available to holders of common units would increase due to the elimination of non-controlling interests in Carlyle Holdings (including any tax impact). Based on these calculations, the 224,826,988 and 221,377,938 of vested Carlyle Holdings partnership units and 536,175 and 358,707 of unvested Carlyle Holdings partnership units for the three months and nine months ended September 30, 2016 , respectively, were dilutive. As a result, a net (loss) income of non-controlling interests in Carlyle Holdings was estimated with this assumed exchange of $ (5.7) million and $ 8.1 million for the three months and nine months ended September 30, 2016 , respectively, have been included in net income attributable to The Carlyle Group L.P. for purposes of the dilutive earnings per common unit calculation. Further, based on these calculations, 216,864,271 and 216,956,438 of vested Carlyle Holdings partnership units and 5,845,305 and 9,373,990 of unvested Carlyle Holdings partnership units for the three and nine months ended September 30, 2015 , respectively, were dilutive. As a result, the net loss of non-controlling interests in Carlyle Holdings associated with the assumed exchange of $250.9 million and $67.8 million for the three and nine months ended September 30, 2015 has been included in net income (loss) attributable to The Carlyle Group L.P. for purposes of the dilutive earnings per common unit calculation. However, for the three and nine months ended September 30, 2015 , 3,501,505 and 4,625,233 of unvested deferred restricted common units, respectively, were antidilutive, and therefore have been excluded. On August 1, 2013, as part of acquiring the remaining 40% equity interests in AlpInvest, the Partnership issued 914,087 common units that are subject to vesting conditions. As of September 30, 2016 , 38,911 common units remain unvested. The common units participate immediately in any Partnership distributions. Under ASC 260, these common units are considered participating securities and are required to be included in the computation of earnings per common unit pursuant to the two-class method.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	Equity-Based Compensation In May 2012, Carlyle Group Management L.L.C., the general partner of the Partnership, adopted The Carlyle Group L.P. 2012 Equity Incentive Plan (the “Equity Incentive Plan”). The Equity Incentive Plan is a source of equity-based awards permitting the Partnership to grant to Carlyle employees, directors of the Partnership’s general partner and consultants non-qualified options, unit appreciation rights, common units, restricted common units, deferred restricted common units, phantom restricted common units and other awards based on the Partnership’s common units and Carlyle Holdings partnership units. The total number of the Partnership’s common units and Carlyle Holdings partnership units which were initially available for grant under the Equity Incentive Plan was 30,450,000 . The Equity Incentive Plan contains a provision which automatically increases the number of the Partnership’s common units and Carlyle Holdings partnership units available for grant based on a pre-determined formula; this increase occurs annually on January 1. As of January 1, 2016, pursuant to the formula, the total number of the Partnership’s common units and Carlyle Holdings partnership units available for grant under the Equity Incentive Plan was 32,402,830 . Unvested Partnership Common Units On August 1, 2013, the Partnership acquired the remaining 40% equity interest in AlpInvest. As part of the transaction, the Partnership issued 914,087 common units to AlpInvest sellers who are employees of the Partnership that are subject to vesting conditions. In June 2015, 11,674 unvested common units were forfeited and canceled by the Partnership. At the same time, in accordance with the Carlyle Holdings partnership agreements, Carlyle Holdings canceled a corresponding number of Carlyle Holdings partnership units held by the Partnership. These common units were unvested at grant and vest over a period of up to five years . The unvested common units are accounted for as equity-based compensation in accordance with ASC Topic 718, Compensation – Stock Compensation (“ASC 718”). The grant-date fair value of the unvested common units is charged to equity-based compensation on a straight-line basis over the required service period. Additionally, the calculation of the expense assumes a forfeiture rate of up to 5% . For the three months ended September 30, 2016 and 2015 , the Partnership recorded $0.2 million and $1.8 million in equity-based compensation expense associated with these awards, respectively. For the nine months ended September 30, 2016 and 2015 , the Partnership recorded $1.5 million and $6.9 million in equity-based compensation expense associated with these awards. As of September 30, 2016 , the total unrecognized equity-based compensation expense related to unvested common units, considering estimated forfeitures, is $0.4 million , which is expected to be recognized over a weighted-average term of 0.9 years . Unvested Carlyle Holdings Partnership Units Unvested Carlyle Holdings partnership units are held by senior Carlyle professionals and other individuals engaged in Carlyle’s business and generally vest ratably over a six -year period. The unvested Carlyle Holdings partnership units are accounted for as equity-based compensation in accordance with ASC 718. The grant-date fair value of the unvested Carlyle Holdings partnership units are charged to equity-based compensation expense on a straight-line basis over the required service period. Additionally, the calculation of the expense assumes a forfeiture rate of up to 2.5% . The Partnership recorded equity-based compensation expense associated with these awards of $40.8 million and $41.8 million for the three months ended September 30, 2016 and 2015 , respectively, and $147.6 million and $147.9 million for the nine months ended September 30, 2016 and 2015 , respectively. No tax benefits have been recorded related to the unvested Carlyle Holdings partnership units, as the vesting of these units does not result in a tax deduction to the corporate taxpayers. In connection with the Partnership’s investment in NGP Management in December 2012, the Partnership issued 996,572 Carlyle Holdings partnership units to ECM Capital, L.P. which vest ratably over a period of five years . The Partnership also issued 597,944 Carlyle Holdings partnership units to ECM Capital, L.P. that were issued at closing but vest upon the achievement of performance conditions. The fair value of these units will be recognized as a reduction to the Partnership’s investment income in NGP Management over the relevant service or performance period, based on the fair value of the units on each reporting date and adjusted for the actual fair value of the units at each vesting date. For the Carlyle Holdings partnership units that vest based on the achievement of performance conditions, the Partnership uses the minimum number of partnership units within the range of potential values for measurement and recognition purposes. As of September 30, 2016 , the total unrecognized equity-based compensation expense related to unvested Carlyle Holdings partnership units, considering estimated forfeitures, is $275.9 million , which is expected to be recognized over a weighted-average term of 1.6 years . Deferred Restricted Common Units The deferred restricted common units are unvested when granted and vest ratably over a service period, which ranges up to six years . The grant-date fair value of the deferred restricted common units granted to Carlyle’s employees is charged to equity-based compensation expense on a straight-line basis over the required service period. Additionally, the calculation of the expense assumes a forfeiture rate that generally ranges from 2% to 7.5% and a per unit discount that generally ranges up to 40% , as these unvested awards do not participate in any Partnership distributions. During the first quarter of 2016, the Partnership revised its estimated forfeiture rates to a range of 2% to 7.5% from a previous range of 2% to 10% . The cumulative effect of the change in this estimate was not material. The Partnership recorded compensation expense of $40.6 million and $43.1 million for the three months ended September 30, 2016 and 2015 , respectively, with $4.4 million and $4.0 million of corresponding deferred tax benefits, respectively. The Partnership recorded compensation expense of $116.8 million and $134.5 million for the nine months ended September 30, 2016 and 2015 , respectively, with $13.5 million and $12.7 million of corresponding deferred tax benefits, respectively. As of September 30, 2016 , the total unrecognized equity-based compensation expense related to unvested deferred restricted common units, considering estimated forfeitures, is $227.6 million , which is expected to be recognized over a weighted-average term of 1.9 years . Equity-based awards issued to non-employees are recognized as general, administrative and other expenses. The expense associated with the deferred restricted common units granted to NGP personnel by the Partnership are recognized as a reduction of the Partnership’s investment income in NGP Management. The grant-date fair value of deferred restricted common units granted to Carlyle’s non-employee directors is charged to expense on a straight-line basis over the vesting period. The cost of services received in exchange for an equity-based award issued to consultants is measured at each vesting date. Equity-based awards that require the satisfaction of future service criteria are recognized over the relevant service period, adjusted for estimated forfeitures of awards not expected to vest, based on the fair value of the award on each reporting date and adjusted for the actual fair value of the award at each vesting date. The expense for equity-based awards issued to non-employees was not significant for the three and nine months ended September 30, 2016 and 2015 . Phantom Deferred Restricted Common Units The phantom deferred restricted common units are unvested when granted and vest ratably over a service period of three years . Upon vesting, the units will be settled in cash. As the phantom deferred restricted common units will be settled in cash, they are accounted for as liability awards. The fair value of the units is re-measured at each reporting period until settlement and charged to equity-based compensation expense over the vesting period. Additionally, the calculation of the expense assumes a forfeiture rate of 7.5% . During the first quarter of 2016, the Partnership revised its estimated forfeiture rate to 7.5% from 10% . The cumulative effect of the change in this estimate was not material. Equity-based compensation expense and related tax benefits associated with these awards were not material for the three and nine months ended September 30, 2016 and 2015 . Further, as of September 30, 2016 , the total unrecognized equity-based compensation expense related to unvested phantom deferred restricted common units, considering estimated forfeitures, was not material and is expected to be recognized within the next year. A summary of the status of the Partnership’s non-vested equity-based awards as of September 30, 2016 and a summary of changes for the nine months ended September 30, 2016 , are presented below: Carlyle Holdings The Carlyle Group, L.P. Equity Settled Awards Cash Settled Awards Unvested Units Partnership Weighted- Deferred Weighted- Unvested Weighted- Phantom Weighted- Balance, December 31, 2015 26,819,112 $ 22.18 18,420,434 $ 24.62 766,991 $ 27.41 6,741 $ 34.58 Granted — $ — 5,619,372 $ 11.29 — $ — — $ — Vested 8,995,688 $ 22.00 6,726,993 $ 25.17 728,080 $ 27.71 3,480 $ 34.45 Forfeited 503,538 $ 22.00 1,243,783 $ 23.67 — $ — 741 $ 34.39 Balance, September 30, 2016 17,319,886 $ 22.26 16,069,030 $ 19.83 38,911 $ 21.67 2,520 $ 34.81

Consolidation of a Real Estate

Consolidation of a Real Estate Development Company	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation of a Real Estate Development Company	Consolidation of a Real Estate Development Company The Partnership, indirectly through certain Carlyle real estate investment funds, has an investment in Urbplan Desenvolvimento Urbano S.A. (“Urbplan”), a Brazilian residential subdivision and land development company. In late 2012, it was determined that Urbplan was facing serious liquidity problems and would require additional capital infusions to continue operations. The Partnership and certain of its senior Carlyle professionals provided capital to Urbplan through one of the Carlyle investment funds starting in 2013. The Partnership concluded that Urbplan was a VIE as of September 30, 2013 because Urbplan’s equity investment at risk was not sufficient to permit it to finance its activities without additional financial support. The Partnership also concluded that it was the primary beneficiary of Urbplan since the Partnership has the power to direct the activities of Urbplan that most significantly impact its economic performance and the Partnership’s investments in Urbplan will absorb losses incurred by Urbplan. As such, the Partnership began consolidating Urbplan into its consolidated financial statements as of September 30, 2013. Due to the timing and availability of financial information from Urbplan, the Partnership consolidates the financial position and results of operations of Urbplan on a financial reporting lag of 90 days . The Partnership will disclose the effect of intervening events at Urbplan that materially affect the financial position or results of operations of the Partnership, if any. The assets and liabilities of Urbplan are held in legal entities separate from the Partnership; the Partnership has not guaranteed or assumed any obligation for repayment of Urbplan’s liabilities nor are the assets of Urbplan available to meet the liquidity requirements of the Partnership. However, if Urbplan fails to complete its construction projects, customers, partners, government agencies or municipalities or other creditors in certain circumstances might seek to assert claims against the Partnership and its assets unrelated to Urbplan under certain consumer protection or other laws. Urbplan is currently a party to various litigation, government investigations and proceedings, disputes and other potential claims. The Partnership does not believe it is probable that the outcome of any existing Urbplan litigation, disputes or other potential claims will materially affect the Partnership or these consolidated financial statements. From 2013 through September 30, 2016 , $365.7 million has been funded to Urbplan by the Partnership and its senior Carlyle professionals (including losses from related foreign currency forward contracts). The Partnership has funded $118.2 million of the $365.7 million and the remaining $247.5 million has been funded by senior Carlyle professionals indirectly through the Partnership. For the three months ended September 30, 2016 , $10.0 million was funded to Urbplan, of which the Partnership funded the entire $10.0 million . While no contractual or other obligations exist to provide additional financial support to Urbplan, the Partnership may provide additional capital funding directly or indirectly to Urbplan in the future. Urbplan continues to seek capital funding from unaffiliated parties and seeks to restructure existing debt obligations to reduce its cash requirements. Whether and to what extent the Partnership will continue to provide financial support will be based on the circumstances at the time including levels of third-party funding and the ability of the company to reach satisfactory agreements with its creditors. At this time, the Partnership estimates that Urbplan may require up to $ 35 million of funding over the next twelve months. Should Urbplan fail to meet its obligations as they come due, Urbplan or the Partnership may be subject to additional claims and Urbplan could be required to seek bankruptcy protection. The assets and liabilities recognized in the Partnership’s condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015 related to Urbplan were as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Receivables and inventory of a consolidated real estate VIE: Customer and other receivables $ 99.6 $ 71.8 Inventory costs in excess of billings and advances 32.0 71.8 $ 131.6 $ 143.6 Other assets of a consolidated real estate VIE: Restricted investments $ 13.9 $ 14.6 Fixed assets, net 0.1 0.8 Deferred tax assets 10.1 8.4 Other assets 17.2 23.8 $ 41.3 $ 47.6 Loans payable of a consolidated real estate VIE, at fair value (principal amount of $148.2 million and $125.6 million as of September 30, 2016 and December 31, 2015, respectively) $ 88.9 $ 75.4 Other liabilities of a consolidated real estate VIE: Accounts payable $ 14.9 $ 14.5 Other liabilities 83.4 69.9 $ 98.3 $ 84.4 The revenues and expenses recognized in the Partnership’s condensed consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 , respectively, related to Urbplan were as follows: Three Months Ended September 30, 2016 Nine Months Ended (Dollars in millions) Revenue of a consolidated real estate VIE Land development services $ 7.8 $ 35.5 Investment income 10.9 26.0 $ 18.7 $ 61.5 Interest and other expenses of a consolidated real estate VIE: Costs of products sold and services rendered $ 4.7 $ 18.9 Interest expense 12.7 36.2 Change in fair value of loans payable (2.5 ) (2.6 ) Compensation and benefits 2.1 5.5 G&A and other expenses 65.1 99.9 $ 82.1 $ 157.9 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Revenue of a consolidated real estate VIE Land development services $ 9.7 $ 71.0 Investment income 1.2 2.9 $ 10.9 $ 73.9 Interest and other expenses of a consolidated real estate VIE: Costs of products sold and services rendered $ 2.5 $ 45.7 Interest expense 13.3 33.6 Change in fair value of loans payable 3.0 12.6 Compensation and benefits 4.3 9.1 G&A and other expenses 3.7 23.4 $ 26.8 $ 124.4 The following is a summary of the significant classifications of assets and liabilities of Urbplan: Customer and other receivables – This balance consists primarily of amounts owed for land development services using the completed contract method. Customer receivables accrue interest at rates ranging from 9% to 12% per year and are secured by the underlying real estate. Substantially all receivables are pledged as collateral for Urbplan’s borrowings. The carrying value of the receivables includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on the balances. Urbplan calculates this allowance based on its history of write-offs, the level of past-due accounts based on the contractual terms of the receivables, and its relationships with, and the economic status of, Urbplan’s customers. Inventory costs in excess of billings and advances – This balance consists primarily of capitalized land development cost, net of approximately $140.3 million and $104.5 million of customer advances received as of September 30, 2016 and December 31, 2015 , respectively. Urbplan records valuation adjustments on inventory when events and circumstances indicate that the inventory may be impaired and when the cash flows estimated to be generated by the real estate project are less than its carrying amount. Real estate projects that demonstrate potential impairment indicators are tested for impairment by Urbplan by comparing the expected undiscounted cash flows for the real estate project to its carrying value. For those real estate projects whose carrying values exceed the expected undiscounted cash flows, Urbplan estimates the fair value of the real estate projects. Impairment charges are recorded if the fair value of the inventory is less than its carrying value. The estimates used in the determination of the estimated fair value of the real estate projects were based on factors known to Urbplan at the time such estimates were made and the expectations of future operations and economic conditions. Should the estimates or expectations used in determining estimated fair value deteriorate in the future, Urbplan may be required to recognize additional impairment charges and write-offs related to real estate projects. Loans payable of a consolidated real estate VIE – This balance consists of Urbplan’s borrowings for its real estate development activities. The estimated fair value approximates 60% of the outstanding principal amounts of the loans as of September 30, 2016 . The fair value of the loans was based on discounted cash flow analyses which considered the liquidity and current financial condition of Urbplan and applicable discount rates. The Partnership has elected to re-measure the loans at fair value at each reporting period through the term of the loans. The principal amounts of the loans accrue interest at a variable rate based on an index plus an applicable margin. Interest rates are based on: (i) CDI plus a margin of 4.0% ( 18.1% as of September 30, 2016 ); (ii) IGP-M plus a margin of 12.0% ( 22.7% as of September 30, 2016 ); or (iii) IPCA plus a margin ranging from 8.8% to 15.0% ( 17.2% to 23.5% as of September 30, 2016 ). Outstanding principal amounts on the loans based on current contractual terms are payable as follows (Dollars in millions): 2016 $ 11.0 2017 15.5 2018 18.1 2019 22.3 2020 22.1 Thereafter 59.2 $ 148.2 Substantially all of Urbplan’s customer and other receivables and investments have been pledged as collateral for the loans. As of September 30, 2016 , substantially all of Urbplan’s loans payable are not in compliance with their related debt covenants or are otherwise in technical default. These violations do not cause a default or event of default under the Partnership’s senior credit facility or senior notes. Urbplan management is in discussions with the lenders to cure or re-negotiate the loans in default. Currently there are no outstanding notices of acceleration of payment on the loans in default. All of the loans payable of Urbplan are contractually non-recourse to the Partnership. Other liabilities – This balance consists of amounts owed to landowners, commissions payable to brokers, real estate taxes, social charges and other liabilities. Revenue of a consolidated real estate VIE – This balance consists primarily of amounts earned for land development services using the completed contract method and investment income earned on Urbplan’s investments. Under the completed contract method of accounting, revenue is not recorded until the period in which the land development services contract is completed. Interest and other expenses of a consolidated real estate VIE – This balance consists primarily of interest expense on Urbplan’s borrowings, general and administrative expenses, compensation and benefits, and costs associated with land development services. Also included in this caption is the change in the Partnership’s estimate of the fair value of Urbplan’s loans payable during the period. Interest expense is recorded on Urbplan’s borrowings at variable rates as defined. Costs related to Urbplan’s land development services activities are capitalized until the services are complete. Costs associated with advertising, marketing and other selling activities are expensed when incurred. Impairment – Urbplan evaluates its assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such asset may not be recoverable, but not less than annually. Impairment charges are recorded in general and administrative expenses within interest and other expenses of a consolidated real estate VIE. As of September 30, 2016 , Urbplan had outstanding commitments for land development services with an estimated $21.0 million of future costs to be incurred.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Carlyle conducts its operations through four reportable segments: Corporate Private Equity – The Corporate Private Equity segment is comprised of the Partnership’s operations that advise a diverse group of funds that invest in buyout and growth capital transactions that focus on either a particular geography or a particular industry. Global Market Strategies – The Global Market Strategies segment advises a group of funds that pursue investment opportunities across various types of credit, equities and alternative instruments, and (as regards certain macroeconomic strategies) currencies, and interest rate products and their derivatives. Real Assets – The Real Assets segment is comprised of the Partnership’s operations that advise U.S. and international funds focused on real estate, infrastructure, energy and renewable energy transactions. Investment Solutions – The Investment Solutions segment advises global private equity fund of funds programs and related co-investment and secondary activities through AlpInvest. This segment also includes Metropolitan, a global manager of real estate fund of funds and related co-investment and secondary activities, and DGAM, the Partnership’s fund of hedge funds and liquid alternatives platform. The Partnership commenced a wind down of the operations of DGAM during the three months ended March 31, 2016. The Partnership’s reportable business segments are differentiated by their various investment focuses and strategies. Overhead costs are generally allocated based on direct base compensation expense for each segment. The Partnership includes adjustments to reflect the Partnership’s economic interests in Claren Road, ESG, and Carlyle Commodity Management (formerly known as Vermillion). Beginning in July 2015 in connection with the departure of certain Carlyle Commodity Management principals and the restructuring of its operations, the Partnership's economic interests were increased in stages to currently 88% (to the extent Carlyle Commodity Management exceeds certain performance hurdles). Otherwise, the Partnership's economic interest, and share of management fees of Carlyle Commodity Management, is 100% . Effective January 1, 2016, the Partnership's economic interest in Claren Road increased from 55% to 63% as a result of reallocation of interest from a departing founder. With respect to ESG, the Partnership's economic interest was 55% through June 30, 2016 (see Note 10). The Partnership’s earnings from its investment in NGP Management are presented in the respective operating captions within the Real Assets segment. The net income or loss from the consolidation of Urbplan allocable to the Partnership (after consideration of amounts allocable to non-controlling interests) is presented within investment income in the Real Assets segment. Economic Net Income (“ENI”) and its components are key performance measures used by management to make operating decisions and assess the performance of the Partnership’s reportable segments. ENI differs from income (loss) before provision for income taxes computed in accordance with U.S. GAAP in that it includes certain tax expenses associated with performance fees, and does not include net income (loss) attributable to non-Carlyle interests in Consolidated Funds or charges (credits) related to Carlyle corporate actions and non-recurring items. Charges (credits) related to Carlyle corporate actions and non-recurring items include: charges associated with equity-based compensation that was issued in the initial public offering in May 2012 or is issued in acquisitions or strategic investments, changes in the tax receivable agreement liability, amortization and any impairment charges associated with acquired intangible assets, transaction costs associated with acquisitions, charges associated with earnouts and contingent consideration including gains and losses associated with the estimated fair value of contingent consideration issued in conjunction with acquisitions or strategic investments, gains and losses from the retirement of debt, charges associated with contract terminations and employee severance. Fee Related Earnings (“FRE”) is a component of ENI and is used to assess the ability of the business to cover direct base compensation and operating expenses from total fee revenues. FRE differs from income (loss) before provision for income taxes computed in accordance with U.S. GAAP in that it adjusts for the items included in the calculation of ENI and also adjusts ENI to exclude net performance fees, investment income from investments in Carlyle funds, equity-based compensation and certain general, administrative and other expenses when the timing of any future payment is uncertain. Distributable Earnings (“DE”) is FRE plus realized net performance fees and realized investment income, and is used to assess performance and amounts potentially available for distribution. DE is used by management primarily in making resource deployment and compensation decisions across the Partnership’s four reportable segments. Management also uses Distributable Earnings in our budgeting, forecasting, and the overall management of our segments. Management makes operating decisions and assesses the performance of each of the Partnership’s business segments based on financial and operating metrics and data that is presented without the consolidation of any of the Consolidated Funds. Consequently, the key performance measures discussed above and all segment data exclude the assets, liabilities and operating results related to the Consolidated Funds. The following table presents the financial data for the Partnership’s four reportable segments for the three months ended September 30, 2016 and as of and for the nine months ended September 30, 2016 Three Months Ended September 30, 2016 Corporate Global Real Investment Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 122.9 $ 44.1 $ 60.3 $ 33.1 $ 260.4 Portfolio advisory fees, net 2.9 0.1 — 0.8 3.8 Transaction fees, net 1.4 — — — 1.4 Total fund level fee revenues 127.2 44.2 60.3 33.9 265.6 Performance fees Realized 311.1 14.3 19.2 36.3 380.9 Unrealized (124.2 ) 3.1 2.0 (6.8 ) (125.9 ) Total performance fees 186.9 17.4 21.2 29.5 255.0 Investment income (loss) Realized 24.1 1.1 (14.1 ) — 11.1 Unrealized (9.6 ) 7.1 4.5 0.2 2.2 Total investment income (loss) 14.5 8.2 (9.6 ) 0.2 13.3 Interest income 0.9 1.1 0.4 0.1 2.5 Other income 1.3 1.2 0.4 0.2 3.1 Total revenues 330.8 72.1 72.7 63.9 539.5 Segment Expenses Compensation and benefits Direct base compensation 52.7 20.9 17.2 16.3 107.1 Indirect base compensation 17.8 7.5 8.9 2.7 36.9 Equity-based compensation 19.8 4.4 7.1 1.6 32.9 Performance fee related Realized 143.5 6.6 8.7 35.8 194.6 Unrealized (57.8 ) 1.3 (15.7 ) (9.7 ) (81.9 ) Total compensation and benefits 176.0 40.7 26.2 46.7 289.6 General, administrative, and other indirect expenses 81.4 37.7 37.2 17.3 173.6 Depreciation and amortization expense 3.4 1.5 1.4 0.9 7.2 Interest expense 7.0 3.0 4.1 1.5 15.6 Total expenses 267.8 82.9 68.9 66.4 486.0 Economic Net Income (Loss) $ 63.0 $ (10.8 ) $ 3.8 $ (2.5 ) $ 53.5 (-) Net Performance Fees 101.2 9.5 28.2 3.4 142.3 (-) Investment Income (Loss) 14.5 8.2 (9.6 ) 0.2 13.3 (+) Equity-based Compensation 19.8 4.4 7.1 1.6 32.9 (+) Reserve for Litigation and Contingencies 49.8 19.0 21.6 9.6 100.0 (=) Fee Related Earnings $ 16.9 $ (5.1 ) $ 13.9 $ 5.1 $ 30.8 (+) Realized Net Performance Fees 167.6 7.7 10.5 0.5 186.3 (+) Realized Investment Income (Loss) 24.1 1.1 (14.1 ) — 11.1 (=) Distributable Earnings $ 208.6 $ 3.7 $ 10.3 $ 5.6 $ 228.2 September 30, 2016 and the Nine Months Then Ended Corporate Global Real Investment Solutions Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 376.9 $ 147.4 $ 192.0 $ 103.7 $ 820.0 Portfolio advisory fees, net 11.2 0.7 0.1 0.8 12.8 Transaction fees, net 24.3 — — — 24.3 Total fund level fee revenues 412.4 148.1 192.1 104.5 857.1 Performance fees Realized 775.2 21.5 79.8 42.7 919.2 Unrealized (496.2 ) 4.6 165.8 19.9 (305.9 ) Total performance fees 279.0 26.1 245.6 62.6 613.3 Investment income (loss) Realized 46.6 2.7 (21.4 ) — 27.9 Unrealized (12.7 ) 14.9 6.5 (0.8 ) 7.9 Total investment income (loss) 33.9 17.6 (14.9 ) (0.8 ) 35.8 Interest income 2.7 3.7 1.3 0.3 8.0 Other income 4.0 3.5 1.0 0.4 8.9 Total revenues 732.0 199.0 425.1 167.0 1,523.1 Segment Expenses Compensation and benefits Direct base compensation 165.8 66.3 55.4 49.9 337.4 Indirect base compensation 55.6 22.7 28.2 8.6 115.1 Equity-based compensation 56.0 13.8 20.3 5.1 95.2 Performance fee related Realized 345.4 8.1 34.8 41.2 429.5 Unrealized (219.9 ) 2.2 55.2 13.3 (149.2 ) Total compensation and benefits 402.9 113.1 193.9 118.1 828.0 General, administrative, and other indirect expenses 144.3 77.1 70.7 34.6 326.7 Depreciation and amortization expense 10.2 4.6 4.4 2.6 21.8 Interest expense 21.2 8.5 12.1 4.5 46.3 Total expenses 578.6 203.3 281.1 159.8 1,222.8 Economic Net Income (Loss) $ 153.4 $ (4.3 ) $ 144.0 $ 7.2 $ 300.3 (-) Net Performance Fees 153.5 15.8 155.6 8.1 333.0 (-) Investment Income (Loss) 33.9 17.6 (14.9 ) (0.8 ) 35.8 (+) Equity-based Compensation 56.0 13.8 20.3 5.1 95.2 (+) Reserve for Litigation and Contingencies 49.8 19.0 21.6 9.6 100.0 (=) Fee Related Earnings $ 71.8 $ (4.9 ) $ 45.2 $ 14.6 $ 126.7 (+) Realized Net Performance Fees 429.8 13.4 45.0 1.5 489.7 (+) Realized Investment Income (Loss) 46.6 2.7 (21.4 ) — 27.9 (=) Distributable Earnings $ 548.2 $ 11.2 $ 68.8 $ 16.1 $ 644.3 Segment assets as of September 30, 2016 $ 2,778.8 $ 783.8 $ 1,549.6 $ 919.5 $ 6,031.7 The following table presents the financial data for the Partnership’s four reportable segments for the three and nine months ended September 30, 2015 : Three Months Ended September 30, 2015 Corporate Global Real Investment Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 152.5 $ 52.3 $ 69.3 $ 37.8 $ 311.9 Portfolio advisory fees, net 2.8 0.1 0.1 — 3.0 Transaction fees, net 0.9 — 0.1 — 1.0 Total fund level fee revenues 156.2 52.4 69.5 37.8 315.9 Performance fees Realized 258.6 11.8 57.7 5.0 333.1 Unrealized (513.9 ) (62.4 ) (9.3 ) 31.4 (554.2 ) Total performance fees (255.3 ) (50.6 ) 48.4 36.4 (221.1 ) Investment income (loss) Realized 11.0 3.1 (4.9 ) — 9.2 Unrealized (12.7 ) (5.0 ) 2.1 0.1 (15.5 ) Total investment income (loss) (1.7 ) (1.9 ) (2.8 ) 0.1 (6.3 ) Interest income 0.4 (0.4 ) 0.1 — 0.1 Other income 2.7 1.1 0.8 0.3 4.9 Total revenues (97.7 ) 0.6 116.0 74.6 93.5 Segment Expenses Compensation and benefits Direct base compensation 59.1 22.4 20.4 19.8 121.7 Indirect base compensation 23.3 6.9 9.7 2.9 42.8 Equity-based compensation 17.0 5.0 6.2 2.6 30.8 Performance fee related Realized 120.6 5.4 25.5 4.4 155.9 Unrealized (235.0 ) (28.6 ) 7.2 28.0 (228.4 ) Total compensation and benefits (15.0 ) 11.1 69.0 57.7 122.8 General, administrative, and other indirect expenses 36.4 14.0 17.0 10.7 78.1 Depreciation and amortization expense 3.3 1.3 1.2 0.8 6.6 Interest expense 7.8 2.6 2.6 1.4 14.4 Total expenses 32.5 29.0 89.8 70.6 221.9 Economic Net Income (Loss) $ (130.2 ) $ (28.4 ) $ 26.2 $ 4.0 $ (128.4 ) (-) Net Performance Fees (140.9 ) (27.4 ) 15.7 4.0 (148.6 ) (-) Investment Income (Loss) (1.7 ) (1.9 ) (2.8 ) 0.1 (6.3 ) (+) Equity-based Compensation 17.0 5.0 6.2 2.6 30.8 (=) Fee Related Earnings $ 29.4 $ 5.9 $ 19.5 $ 2.5 $ 57.3 (+) Realized Net Performance Fees 138.0 6.4 32.2 0.6 177.2 (+) Realized Investment Income (Loss) 11.0 3.1 (4.9 ) — 9.2 (=) Distributable Earnings $ 178.4 $ 15.4 $ 46.8 $ 3.1 $ 243.7 Nine Months Ended September 30, 2015 Corporate Global Real Investment Solutions Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 443.5 $ 162.6 $ 197.1 $ 116.1 $ 919.3 Portfolio advisory fees, net 11.3 0.6 0.4 — 12.3 Transaction fees, net 3.7 — 0.4 — 4.1 Total fund level fee revenues 458.5 163.2 197.9 116.1 935.7 Performance fees Realized 1,101.1 25.0 112.5 13.2 1,251.8 Unrealized (583.0 ) (40.1 ) (38.3 ) 122.1 (539.3 ) Total performance fees 518.1 (15.1 ) 74.2 135.3 712.5 Investment income (loss) Realized 22.0 5.9 (94.7 ) 0.1 (66.7 ) Unrealized (4.6 ) (10.7 ) 58.4 0.3 43.4 Total investment income (loss) 17.4 (4.8 ) (36.3 ) 0.4 (23.3 ) Interest income 0.9 0.2 0.2 0.1 1.4 Other income 8.1 3.7 2.4 1.0 15.2 Total revenues 1,003.0 147.2 238.4 252.9 1,641.5 Segment Expenses Compensation and benefits Direct base compensation 169.3 75.3 56.4 60.6 361.6 Indirect base compensation 71.1 22.1 30.8 9.8 133.8 Equity-based compensation 49.6 14.5 19.6 7.3 91.0 Performance fee related Realized 494.8 11.8 46.0 10.9 563.5 Unrealized (256.8 ) (18.6 ) 28.4 113.6 (133.4 ) Total compensation and benefits 528.0 105.1 181.2 202.2 1,016.5 General, administrative, and other indirect expenses 105.9 49.1 52.4 31.4 238.8 Depreciation and amortization expense 9.0 3.7 3.1 3.0 18.8 Interest expense 23.1 8.1 7.9 4.4 43.5 Total expenses 666.0 166.0 244.6 241.0 1,317.6 Economic Net Income (Loss) $ 337.0 $ (18.8 ) $ (6.2 ) $ 11.9 $ 323.9 (-) Net Performance Fees 280.1 (8.3 ) (0.2 ) 10.8 282.4 (-) Investment Income (Loss) 17.4 (4.8 ) (36.3 ) 0.4 (23.3 ) (+) Equity-based Compensation 49.6 14.5 19.6 7.3 91.0 (=) Fee Related Earnings $ 89.1 $ 8.8 $ 49.9 $ 8.0 $ 155.8 (+) Realized Net Performance Fees 606.3 13.2 66.5 2.3 688.3 (+) Realized Investment Income (Loss) 22.0 5.9 (94.7 ) 0.1 (66.7 ) (=) Distributable Earnings $ 717.4 $ 27.9 $ 21.7 $ 10.4 $ 777.4 The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the three months ended September 30, 2016 and 2015 : Three Months Ended September 30, 2016 Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 539.5 $ 43.0 $ 24.8 (a) $ 607.3 Expenses $ 486.0 $ 41.2 $ 134.6 (b) $ 661.8 Other income $ — $ 4.8 $ — (c) $ 4.8 Economic net income $ 53.5 $ 6.6 $ (109.8 ) (d) $ (49.7 ) Three Months Ended September 30, 2015 Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 93.5 $ 259.4 $ (55.4 ) (a) $ 297.5 Expenses $ 221.9 $ 355.5 $ 217.9 (b) $ 795.3 Other income (loss) $ — $ (20.6 ) $ (10.7 ) (c) $ (31.3 ) Economic net income (loss) $ (128.4 ) $ (116.7 ) $ (284.0 ) (d) $ (529.1 ) The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the nine months ended September 30, 2016 and 2015 , and Total Assets as of September 30, 2016 . September 30, 2016 and the Nine Months Then Ended Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 1,523.1 $ 107.8 $ 67.5 (a) $ 1,698.4 Expenses $ 1,222.8 $ 105.9 $ 339.4 (b) $ 1,668.1 Other income $ — $ 3.1 $ — (c) $ 3.1 Economic net income $ 300.3 $ 5.0 $ (271.9 ) (d) $ 33.4 Total assets $ 6,031.7 $ 3,601.9 $ (130.0 ) (e) $ 9,503.6 Nine Months Ended September 30, 2015 Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 1,641.5 $ 742.7 $ (93.8 ) (a) $ 2,290.4 Expenses $ 1,317.6 $ 959.5 $ 388.8 (b) $ 2,665.9 Other income $ — $ 950.3 $ (14.5 ) (c) $ 935.8 Economic net income $ 323.9 $ 733.5 $ (497.1 ) (d) $ 560.3 (a) The Revenues adjustment principally represents fund management and performance fees earned from the Consolidated Funds which were eliminated in consolidation to arrive at the Partnership’s total revenues, adjustments for amounts attributable to non-controlling interests in consolidated entities, adjustments related to expenses associated with the investments in NGP Management and its affiliates that are included in operating captions or are excluded from the segment results, adjustments to reflect the Partnership’s share of Urbplan’s net losses as a component of investment income, the inclusion of tax expenses associated with certain performance fees, and adjustments to reflect the Partnership’s ownership interests in Claren Road, ESG, and Carlyle Commodity Management that were included in Revenues in the Partnership’s segment reporting. (b) The Expenses adjustment represents the elimination of intercompany expenses of the Consolidated Funds payable to the Partnership, the inclusion of certain tax expenses associated with performance fee compensation, adjustments for amounts attributable to non-controlling interests in consolidated entities, adjustments related to expenses associated with the investment in NGP Management that are included in operating captions, adjustments to reflect the Partnership’s share of Urbplan’s net losses as a component of investment income, changes in the tax receivable agreement liability, charges and credits associated with Carlyle corporate actions and non-recurring items and adjustments to reflect the Partnership’s economic interests in Claren Road, ESG and Carlyle Commodity Management, as detailed below (Dollars in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments $ 50.6 $ 54.5 $ 175.3 $ 202.1 Acquisition related charges, including amortization of intangibles and impairment 27.7 209.6 67.0 247.9 Other non-operating expense (income) (3.7 ) (9.9 ) 0.8 (11.7 ) Tax provision associated with performance fees (2.0 ) (5.1 ) (16.1 ) (19.4 ) Non-Carlyle economic interests in acquired business 69.4 26.2 120.7 134.6 Severance and other adjustments 1.5 0.1 10.3 3.1 Elimination of expenses of Consolidated Funds (8.9 ) (57.5 ) (18.6 ) (167.8 ) $ 134.6 $ 217.9 $ 339.4 $ 388.8 (c) The Other Income (Loss) adjustment results from the Consolidated Funds which were eliminated in consolidation to arrive at the Partnership’s total Other Income (Loss). (d) The following table is a reconciliation of Income Before Provision for Income Taxes to Economic Net Income, to Fee Related Earnings, and to Distributable Earnings (Dollars in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Income (loss) before provision for income taxes $ (49.7 ) $ (529.1 ) $ 33.4 $ 560.3 Adjustments: Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments 50.6 54.5 175.3 202.1 Acquisition related charges, including amortization of intangibles and impairment 27.7 209.6 67.0 247.9 Other non-operating expense (income) (3.7 ) (9.9 ) 0.8 (11.7 ) Tax provision associated with performance fees (2.0 ) (5.1 ) (16.1 ) (19.4 ) Net (income) loss attributable to non-controlling interests in consolidated entities 29.1 152.4 29.8 (657.5 ) Severance and other adjustments 1.5 (0.8 ) 10.1 2.2 Economic Net Income (Loss) $ 53.5 $ (128.4 ) $ 300.3 $ 323.9 Net performance fees (1) 142.3 (148.6 ) 333.0 282.4 Investment income (loss) (1) 13.3 (6.3 ) 35.8 (23.3 ) Equity-based compensation 32.9 30.8 95.2 91.0 Reserve for litigation and contingencies 100.0 — 100.0 — Fee Related Earnings $ 30.8 $ 57.3 $ 126.7 $ 155.8 Realized performance fees, net of related compensation 186.3 177.2 489.7 688.3 Realized investment income (loss) (1) 11.1 9.2 27.9 (66.7 ) Distributable Earnings $ 228.2 $ 243.7 $ 644.3 $ 777.4 (1) See reconciliation to most directly comparable U.S. GAAP measure below: Three Months Ended September 30, 2016 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 383.4 $ (2.5 ) $ 380.9 Unrealized (168.7 ) 42.8 (125.9 ) Total performance fees 214.7 40.3 255.0 Performance fee related compensation expense Realized 189.0 5.6 194.6 Unrealized (78.1 ) (3.8 ) (81.9 ) Total performance fee related compensation expense 110.9 1.8 112.7 Net performance fees Realized 194.4 (8.1 ) 186.3 Unrealized (90.6 ) 46.6 (44.0 ) Total net performance fees $ 103.8 $ 38.5 $ 142.3 Investment income (loss) Realized $ 40.7 $ (29.6 ) $ 11.1 Unrealized 29.8 (27.6 ) 2.2 Investment income (loss) $ 70.5 $ (57.2 ) $ 13.3 Three Months Ended September 30, 2015 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 329.2 $ 3.9 $ 333.1 Unrealized (575.8 ) 21.6 (554.2 ) Total performance fees (246.6 ) 25.5 (221.1 ) Performance fee related compensation expense Realized 155.2 0.7 155.9 Unrealized (228.1 ) (0.3 ) (228.4 ) Total performance fee related compensation expense (72.9 ) 0.4 (72.5 ) Net performance fees Realized 174.0 3.2 177.2 Unrealized (347.7 ) 21.9 (325.8 ) Total net performance fees $ (173.7 ) $ 25.1 $ (148.6 ) Investment income (loss) Realized $ 12.5 $ (3.3 ) $ 9.2 Unrealized (22.0 ) 6.5 (15.5 ) Total investment income (loss) $ (9.5 ) $ 3.2 $ (6.3 ) Nine Months Ended September 30, 2016 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 905.1 $ 14.1 $ 919.2 Unrealized (334.3 ) 28.4 (305.9 ) Total performance fees 570.8 42.5 613.3 Performance fee related compensation expense Realized 423.0 6.5 429.5 Unrealized (146.1 ) (3.1 ) (149.2 ) Total performance fee related compensation expense 276.9 3.4 280.3 Net performance fees Realized 482.1 7.6 489.7 Unrealized (188.2 ) 31.5 (156.7 ) Total net performance fees $ 293.9 $ 39.1 $ 333.0 Investment income (loss) Realized $ 92.2 $ (64.3 ) $ 27.9 Unrealized 34.0 (26.1 ) 7.9 Investment income (loss) $ 126.2 $ (90.4 ) $ 35.8 Nine Months Ended September 30, 2015 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 1,251.0 $ 0.8 $ 1,251.8 Unrealized (629.7 ) 90.4 (539.3 ) Total performance fees 621.3 91.2 712.5 Performance fee related compensation expense Realized 561.7 1.8 563.5 Unrealized (146.2 ) 12.8 (133.4 ) Total performance fee related compensation expense 415.5 14.6 430.1 Net performance fees Realized 689.3 (1.0 ) 688.3 Unrealized (483.5 ) 77.6 (405.9 ) Total net performance fees $ 205.8 $ 76.6 $ 282.4 Investment income (loss) Realized $ 24.2 $ (90.9 ) $ (66.7 ) Unrealized (17.7 ) 61.1 43.4 Total investment income (loss) $ 6.5 $ (29.8 ) $ (23.3 ) (2) Adjustments to performance fees and investment income (loss) relate to (i) amounts earned from the Consolidated Funds, which were eliminated in the U.S. GAAP consolidation but were included in the segment results, (ii) amounts attributable to non-controlling interests in consolidated entities, which were excluded from the segment results, (iii) the reclassification of NGP performance fees, which are included in investment income in U.S. GAAP financial statements, and (iv) the reclassification of certain tax expenses associated with performance fees. Adjustments to investment income (loss) also include the reclassification of earnings for the investments in NGP Management and its affiliates to the appropriate operating captions for the segment results, the exclusion of charges associated with the investment in NGP Management and its affiliates that are excluded from the segment results, and adjustments to reflect the Partnership’s share of Urbplan’s net losses as investment losses for the segment results. Adjustments are also included in these financial statement captions to reflect the Partnership’s economic interests in Claren Road, ESG, and Carlyle Commodity Management. (e) The Total Assets adjustment represents the addition of the assets of the Consolidated Funds that were eliminated in consolidation to arrive at the Partnership’s total assets.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In October 2016, the Board of Directors of the general partner of the Partnership declared a quarterly distribution of $0.50 per common unit to common unitholders of record at the close of business on November 8, 2016 , payable on November 16, 2016 .

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Financial Information	Supplemental Financial Information The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Partnership’s financial position as of September 30, 2016 and December 31, 2015 and results of operations for the three and nine months ended September 30, 2016 and 2015 . The supplemental statement of cash flows is presented without effects of the Consolidated Funds. As of September 30, 2016 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Assets Cash and cash equivalents $ 1,043.3 $ — $ — $ 1,043.3 Cash and cash equivalents held at Consolidated Funds — 174.1 — 174.1 Restricted cash 16.9 — — 16.9 Corporate treasury investments 95.1 — — 95.1 Accrued performance fees 2,776.6 — — 2,776.6 Investments 1,244.0 — (125.5 ) 1,118.5 Investments of Consolidated Funds — 3,390.9 — 3,390.9 Due from affiliates and other receivables, net 207.8 — (4.5 ) 203.3 Due from affiliates and other receivables of Consolidated Funds, net — 36.9 — 36.9 Receivables and inventory of a consolidated real estate VIE 131.6 — — 131.6 Fixed assets, net 101.5 — — 101.5 Deposits and other 39.9 — — 39.9 Other assets of a consolidated real estate VIE 41.3 — — 41.3 Intangible assets, net 106.6 — — 106.6 Deferred tax assets 227.1 — — 227.1 Total assets $ 6,031.7 $ 3,601.9 $ (130.0 ) $ 9,503.6 Liabilities and partners’ capital Debt obligations $ 1,277.2 $ — $ — $ 1,277.2 Loans payable of Consolidated Funds — 3,272.0 — 3,272.0 Loans payable of a consolidated real estate VIE at fair value (principal amount of $148.2 million) 88.9 — — 88.9 Accounts payable, accrued expenses and other liabilities 396.4 — — 396.4 Accrued compensation and benefits 1,857.5 — — 1,857.5 Due to affiliates 222.6 0.2 — 222.8 Deferred revenue 199.6 — — 199.6 Deferred tax liabilities 88.0 — — 88.0 Other liabilities of Consolidated Funds — 232.3 (32.0 ) 200.3 Other liabilities of a consolidated real estate VIE 98.3 — — 98.3 Accrued giveback obligations 224.4 — — 224.4 Total liabilities 4,452.9 3,504.5 (32.0 ) 7,925.4 Redeemable non-controlling interests in consolidated entities 6.2 — — 6.2 Partners’ capital 438.7 24.9 (24.9 ) 438.7 Accumulated other comprehensive loss (85.7 ) 0.2 (0.5 ) (86.0 ) Non-controlling interests in consolidated entities 200.7 0.5 — 201.2 Non-controlling interests in Carlyle Holdings 1,018.9 71.8 (72.6 ) 1,018.1 Total partners’ capital 1,572.6 97.4 (98.0 ) 1,572.0 Total liabilities and partners’ capital $ 6,031.7 $ 3,601.9 $ (130.0 ) $ 9,503.6 As of December 31, 2015 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Assets Cash and cash equivalents $ 991.5 $ — $ — $ 991.5 Cash and cash equivalents held at Consolidated Funds — 1,612.7 — 1,612.7 Restricted cash 18.9 — — 18.9 Restricted cash and securities of Consolidated Funds — 18.4 — 18.4 Accrued performance fees 3,012.2 — (23.6 ) 2,988.6 Investments 1,103.9 — (218.0 ) 885.9 Investments of Consolidated Funds — 23,996.1 2.7 23,998.8 Due from affiliates and other receivables, net 275.1 — (79.8 ) 195.3 Due from affiliates and other receivables of Consolidated Funds, net — 765.3 — 765.3 Receivables and inventory of a consolidated real estate VIE 143.6 — — 143.6 Fixed assets, net 110.9 — — 110.9 Deposits and other 45.8 3.2 — 49.0 Other assets of a consolidated real estate VIE 47.6 — — 47.6 Intangible assets, net 135.7 — — 135.7 Deferred tax assets 219.4 — — 219.4 Total assets $ 6,104.6 $ 26,395.7 $ (318.7 ) $ 32,181.6 Liabilities and partners’ capital Debt obligations $ 1,135.7 $ — $ — $ 1,135.7 Loans payable of Consolidated Funds — 17,332.5 (267.8 ) 17,064.7 Loans payable of a consolidated real estate VIE at fair value (principal amount of $125.6 million) 75.4 — — 75.4 Accounts payable, accrued expenses and other liabilities 463.8 — — 463.8 Accrued compensation and benefits 1,953.2 — — 1,953.2 Due to affiliates 245.6 1.8 (1.5 ) 245.9 Deferred revenue 40.9 — — 40.9 Deferred tax liabilities 103.5 — — 103.5 Other liabilities of Consolidated Funds — 1,882.2 (43.6 ) 1,838.6 Other liabilities of a consolidated real estate VIE 84.4 — — 84.4 Accrued giveback obligations 252.0 — — 252.0 Total liabilities 4,354.5 19,216.5 (312.9 ) 23,258.1 Redeemable non-controlling interests in consolidated entities 7.6 2,838.3 — 2,845.9 Partners’ capital 485.9 (1.4 ) 1.4 485.9 Accumulated other comprehensive income (loss) (90.4 ) 1.7 (1.4 ) (90.1 ) Partners’ capital appropriated for Consolidated Funds — 126.6 (5.8 ) 120.8 Non-controlling interests in consolidated entities 280.8 4,213.0 — 4,493.8 Non-controlling interests in Carlyle Holdings 1,066.2 1.0 — 1,067.2 Total partners’ capital 1,742.5 4,340.9 (5.8 ) 6,077.6 Total liabilities and partners’ capital $ 6,104.6 $ 26,395.7 $ (318.7 ) $ 32,181.6 Three Months Ended September 30, 2016 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 259.1 $ — $ (4.0 ) $ 255.1 Performance fees Realized 383.4 — — 383.4 Unrealized (168.7 ) — — (168.7 ) Total performance fees 214.7 — — 214.7 Investment income (loss) Realized 40.3 — 0.4 40.7 Unrealized 43.0 — (13.2 ) 29.8 Investment income (loss) 83.3 — (12.8 ) 70.5 Interest and other income 5.4 — (0.1 ) 5.3 Interest and other income of Consolidated Funds — 43.0 — 43.0 Revenue of a consolidated real estate VIE 18.7 — — 18.7 Total revenues 581.2 43.0 (16.9 ) 607.3 Expenses Compensation and benefits Base compensation 154.3 — — 154.3 Equity-based compensation 81.4 — — 81.4 Performance fee related Realized 189.0 — — 189.0 Unrealized (78.1 ) — — (78.1 ) Total compensation and benefits 346.6 — — 346.6 General, administrative and other expenses 188.9 — — 188.9 Interest 15.6 — — 15.6 Interest and other expenses of Consolidated Funds — 41.2 (8.9 ) 32.3 Interest and other expenses of a consolidated real estate VIE 82.1 — — 82.1 Other non-operating income (3.7 ) — — (3.7 ) Total expenses 629.5 41.2 (8.9 ) 661.8 Other income Net investment gains of Consolidated Funds — 4.8 — 4.8 Income (loss) before provision for income taxes (48.3 ) 6.6 (8.0 ) (49.7 ) Provision for income taxes 1.0 — — 1.0 Net income (loss) (49.3 ) 6.6 (8.0 ) (50.7 ) Net loss attributable to non-controlling interests in consolidated entities (27.7 ) — (1.4 ) (29.1 ) Net income (loss) attributable to Carlyle Holdings (21.6 ) 6.6 (6.6 ) (21.6 ) Net loss attributable to non-controlling interests in Carlyle Holdings (22.4 ) — — (22.4 ) Net income attributable to The Carlyle Group L.P. $ 0.8 $ 6.6 $ (6.6 ) $ 0.8 Nine Months Ended September 30, 2016 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 827.5 $ — $ (10.4 ) $ 817.1 Performance fees Realized 905.3 — (0.2 ) 905.1 Unrealized (334.3 ) — — (334.3 ) Total performance fees 571.0 — (0.2 ) 570.8 Investment income Realized 92.7 — (0.5 ) 92.2 Unrealized 45.1 — (11.1 ) 34.0 Investment income 137.8 — (11.6 ) 126.2 Interest and other income 16.3 — (1.3 ) 15.0 Interest and other income of Consolidated Funds — 107.8 — 107.8 Revenue of a consolidated real estate VIE 61.5 — — 61.5 Total revenues 1,614.1 107.8 (23.5 ) 1,698.4 Expenses Compensation and benefits Base compensation 470.5 — — 470.5 Equity-based compensation 265.8 — — 265.8 Performance fee related Realized 423.0 — — 423.0 Unrealized (146.1 ) — — (146.1 ) Total compensation and benefits 1,013.2 — — 1,013.2 General, administrative and other expenses 362.6 — — 362.6 Interest 46.3 — — 46.3 Interest and other expenses of Consolidated Funds — 105.9 (18.6 ) 87.3 Interest and other expenses of a consolidated real estate VIE 157.9 — — 157.9 Other non-operating expenses 0.8 — — 0.8 Total expenses 1,580.8 105.9 (18.6 ) 1,668.1 Other income Net investment gains of Consolidated Funds — 3.1 — 3.1 Income (loss) before provision for income taxes 33.3 5.0 (4.9 ) 33.4 Provision for income taxes 32.7 — — 32.7 Net income 0.6 5.0 (4.9 ) 0.7 Net loss attributable to non-controlling interests in consolidated entities (29.9 ) — 0.1 (29.8 ) Net income attributable to Carlyle Holdings 30.5 5.0 (5.0 ) 30.5 Net income attributable to non-controlling interests in Carlyle Holdings 15.2 — — 15.2 Net income attributable to The Carlyle Group L.P. $ 15.3 $ 5.0 $ (5.0 ) $ 15.3 Three Months Ended September 30, 2015 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 316.7 $ — $ (38.4 ) $ 278.3 Performance fees Realized 334.4 — (5.2 ) 329.2 Unrealized (569.9 ) — (5.9 ) (575.8 ) Total performance fees (235.5 ) — (11.1 ) (246.6 ) Investment income (loss) Realized 15.6 — (3.1 ) 12.5 Unrealized (24.6 ) — 2.6 (22.0 ) Total investment income (loss) (9.0 ) — (0.5 ) (9.5 ) Interest and other income 5.5 — (0.5 ) 5.0 Interest and other income of Consolidated Funds — 259.4 — 259.4 Revenue of a consolidated real estate VIE 10.9 — — 10.9 Total revenues 88.6 259.4 (50.5 ) 297.5 Expenses Compensation and benefits Base compensation 163.5 — — 163.5 Equity-based compensation 86.8 — — 86.8 Performance fee related Realized 155.2 — — 155.2 Unrealized (228.1 ) — — (228.1 ) Total compensation and benefits 177.4 — — 177.4 General, administrative and other expenses 288.5 — 1.1 289.6 Interest 14.5 — — 14.5 Interest and other expenses of Consolidated Funds — 355.5 (58.6 ) 296.9 Interest and other expenses of a consolidated real estate VIE 26.8 — — 26.8 Other non-operating income (9.9 ) — — (9.9 ) Total expenses 497.3 355.5 (57.5 ) 795.3 Other income (loss) Net investment losses of Consolidated Funds — (20.6 ) (10.7 ) (31.3 ) Loss before provision for income taxes (408.7 ) (116.7 ) (3.7 ) (529.1 ) Benefit for income taxes (4.1 ) — — (4.1 ) Net loss (404.6 ) (116.7 ) (3.7 ) (525.0 ) Net loss attributable to non-controlling interests in consolidated entities (32.0 ) — (120.4 ) (152.4 ) Net loss attributable to Carlyle Holdings (372.6 ) (116.7 ) 116.7 (372.6 ) Net loss attributable to non-controlling interests in Carlyle Holdings (288.7 ) — — (288.7 ) Net loss attributable to The Carlyle Group L.P. $ (83.9 ) $ (116.7 ) $ 116.7 $ (83.9 ) Nine Months Ended September 30, 2015 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 948.0 $ — $ (117.9 ) $ 830.1 Performance fees Realized 1,264.1 — (13.1 ) 1,251.0 Unrealized (613.1 ) — (16.6 ) (629.7 ) Total performance fees 651.0 — (29.7 ) 621.3 Investment income (loss) Realized (49.3 ) — 73.5 24.2 Unrealized 25.9 — (43.6 ) (17.7 ) Total investment income (loss) (23.4 ) — 29.9 6.5 Interest and other income 17.8 — (1.9 ) 15.9 Interest and other income of Consolidated Funds — 742.7 — 742.7 Revenue of a consolidated real estate VIE 73.9 — — 73.9 Total revenues 1,667.3 742.7 (119.6 ) 2,290.4 Expenses Compensation and benefits Base compensation 472.2 — — 472.2 Equity-based compensation 291.0 — — 291.0 Performance fee related Realized 561.7 — — 561.7 Unrealized (146.2 ) — — (146.2 ) Total compensation and benefits 1,178.7 — — 1,178.7 General, administrative and other expenses 539.2 — — 539.2 Interest 43.6 — — 43.6 Interest and other expenses of Consolidated Funds — 959.5 (167.8 ) 791.7 Interest and other expenses of a consolidated real estate VIE 124.4 — — 124.4 Other non-operating income (11.7 ) — — (11.7 ) Total expenses 1,874.2 959.5 (167.8 ) 2,665.9 Other income (loss) Net investment gains of Consolidated Funds — 950.3 (14.5 ) 935.8 Income (loss) before provision for income taxes (206.9 ) 733.5 33.7 560.3 Provision for income taxes 12.4 — — 12.4 Net income (loss) (219.3 ) 733.5 33.7 547.9 Net income (loss) attributable to non-controlling interests in consolidated entities (109.7 ) — 767.2 657.5 Net income (loss) attributable to Carlyle Holdings (109.6 ) 733.5 (733.5 ) (109.6 ) Net loss attributable to non-controlling interests in Carlyle Holdings (95.8 ) — — (95.8 ) Net income (loss) attributable to The Carlyle Group L.P. $ (13.8 ) $ 733.5 $ (733.5 ) $ (13.8 ) Nine Months Ended September 30, 2016 2015 (Dollars in millions) Cash flows from operating activities Net income (loss) $ 0.6 $ (219.3 ) Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 52.6 281.7 Equity-based compensation 265.8 291.0 Excess tax benefits related to equity-based compensation — (1.4 ) Non-cash performance fees 108.0 584.4 Other non-cash amounts (19.2 ) 41.8 Investment (income) loss (135.8 ) 32.6 Purchases of investments and trading securities (262.7 ) (99.2 ) Proceeds from the sale of investments and trading securities 236.7 382.6 Payments of contingent consideration (82.6 ) (17.8 ) Change in deferred taxes, net 3.7 (12.0 ) Change in due from affiliates and other receivables 0.7 (3.4 ) Change in receivables and inventory of a consolidated real estate VIE 45.1 (49.5 ) Change in deposits and other 6.0 (9.3 ) Change in other assets of a consolidated real estate VIE 33.1 (10.5 ) Change in accounts payable, accrued expenses and other liabilities 71.8 (82.9 ) Change in accrued compensation and benefits 32.4 (212.8 ) Change in due to affiliates (22.4 ) 253.5 Change in other liabilities of a consolidated real estate VIE (1.2 ) 43.9 Change in deferred revenue 154.9 111.4 Net cash provided by operating activities 487.5 1,304.8 Cash flows from investing activities Change in restricted cash 1.8 (217.9 ) Purchases of fixed assets, net (13.3 ) (49.8 ) Net cash used in investing activities (11.5 ) (267.7 ) Cash flows from financing activities Proceeds from debt obligations 20.6 — Net payments on loans payable of a consolidated real estate VIE (27.3 ) (53.1 ) Payments of contingent consideration (3.3 ) (8.0 ) Excess tax benefits related to equity-based compensation — 1.4 Distributions to common unitholders (98.5 ) (206.0 ) Distributions to non-controlling interest holders in Carlyle Holdings (300.9 ) (702.4 ) Contributions from non-controlling interest holders 75.3 104.5 Distributions to non-controlling interest holders (85.5 ) (92.1 ) Net proceeds from issuance of common units, net of offering costs — 209.9 Acquisition of non-controlling interests in Carlyle Holdings — (209.9 ) Units repurchased (53.6 ) — Change in due to/from affiliates financing activities 49.5 4.4 Net cash used in financing activities (423.7 ) (951.3 ) Effect of foreign exchange rate changes (0.5 ) (20.3 ) Increase in cash and cash equivalents 51.8 65.5 Cash and cash equivalents, beginning of period 991.5 1,242.0 Cash and cash equivalents, end of period $ 1,043.3 $ 1,307.5

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Partnership consolidates all entities that it controls either through a majority voting interest or as the primary beneficiary of variable interest entities (“VIEs”). On January 1, 2016, the Partnership adopted ASU 2015-2, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which provides a revised consolidation model for all reporting entities to use in evaluating whether to consolidate certain types of legal entities. As a result, the Partnership deconsolidated the majority of the Partnership's consolidated funds on January 1, 2016. Upon adoption, the Partnership deconsolidated approximately $ 23.2 billion in assets and approximately $ 16.1 billion in liabilities, and, using the modified retrospective method, recorded a $ 4.3 billion cumulative effect adjustment to partners' capital and $2.8 billion to redeemable non-controlling interests in consolidated entities. The adoption of the new consolidation guidance had no impact on net income (loss) attributable to Carlyle Holdings or to net income (loss) attributable to the Partnership. Prior period results were not restated upon adoption. The Partnership evaluates (1) whether it holds a variable interest in an entity, (2) whether the entity is a VIE, and (3)whether the Partnership's involvement would make it the primary beneficiary. In evaluating whether the Partnership holds a variable interest, fees (including management fees and performance fees) that are customary and commensurate with the level of services provided, and where the Partnership does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, are not considered variable interests. The Partnership considers all economic interests, including indirect interests, to determine if a fee is considered a variable interest. For the funds the Partnership deconsolidated on January 1, 2016, the Partnership's fee arrangements were not considered to be variable interests. For those entities where the Partnership holds a variable interest, the Partnership determines whether each of these entities qualifies as a VIE and, if so, whether or not the Partnership is the primary beneficiary. The assessment of whether the entity is a VIE is generally performed qualitatively, which requires judgment. These judgments include: (a) determining whether the equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) evaluating whether the equity holders, as a group, can make decisions that have a significant effect on the economic performance of the entity, (c) determining whether two or more parties' equity interests should be aggregated, and (d) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive returns from an entity. For entities that are determined to be VIEs, the Partnership consolidates those entities where it has concluded it is the primary beneficiary. The primary beneficiary is defined as the variable interest holder with (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. In evaluating whether the Partnership is the primary beneficiary, the Partnership evaluates its economic interests in the entity held either directly or indirectly by the Partnership. As of September 30, 2016 , assets and liabilities of the remaining consolidated VIEs reflected in the condensed consolidated balance sheets were $3.9 billion and $3.7 billion , respectively. Except to the extent of the consolidated assets of the VIEs, the holders of the consolidated VIEs’ liabilities generally do not have recourse to the Partnership. Substantially all of our Consolidated Funds are CLOs, which are VIEs that issue loans payable that are backed by diversified collateral asset portfolios consisting primarily of loans or structured debt. In exchange for managing the collateral for the CLOs, the Partnership earns investment management fees, including in some cases subordinated management fees and contingent incentive fees. In cases where the Partnership consolidates the CLOs (primarily because of a retained interest that is significant to the CLO), those management fees have been eliminated as intercompany transactions. As of September 30, 2016 , the Partnership held $122.4 million of investments in these CLOs which represents its maximum risk of loss. The Partnership’s investments in these CLOs are generally subordinated to other interests in the entities and entitle the Partnership to receive a pro rata portion of the residual cash flows, if any, from the entities. Investors in the CLOs have no recourse against the Partnership for any losses sustained in the CLO structure. Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities. Under the voting interest entity model, the Partnership consolidates those entities it controls through a majority voting interest. All significant inter-entity transactions and balances of entities consolidated have been eliminated.
Investments in Unconsolidated Variable Interest Entities	Investments in Unconsolidated Variable Interest Entities The Partnership holds variable interests in certain VIEs that are not consolidated because the Partnership is not the primary beneficiary, including its investments in certain CLOs and strategic investment in NGP Management Company, L.L.C. (“NGP Management” and, together with its affiliates, “NGP”). Refer to Note 5 for information on the strategic investment in NGP. The Partnership’s involvement with such entities is in the form of direct equity interests and fee arrangements. The maximum exposure to loss represents the loss of assets recognized by the Partnership relating to its variable interests in these unconsolidated entities.
Basis of Accounting	Basis of Accounting The accompanying financial statements are prepared in accordance with U.S. GAAP. Management has determined that the Partnership’s Funds are investment companies under U.S. GAAP for the purposes of financial reporting. U.S. GAAP for an investment company requires investments to be recorded at estimated fair value and the unrealized gains and/or losses in an investment’s fair value are recognized on a current basis in the statements of operations. Additionally, the Funds do not consolidate their majority-owned and controlled investments (the “Portfolio Companies”). In the preparation of these condensed consolidated financial statements, the Partnership has retained the specialized accounting for the Funds. All of the investments held and notes issued by the Consolidated Funds are presented at their estimated fair values in the Partnership’s condensed consolidated balance sheets. Interest and other income of the Consolidated Funds as well as interest expense and other expenses of the Consolidated Funds are included in the Partnership’s condensed consolidated statements of operations. Prior to January 1, 2016, the excess of the CLO assets over the CLO liabilities upon consolidation was reflected in the Partnership’s condensed consolidated balance sheets as partners’ capital appropriated for Consolidated Funds. Net income attributable to the investors in the CLOs was included in net income (loss) attributable to non-controlling interests in consolidated entities in the condensed consolidated statements of operations and partners’ capital appropriated for Consolidated Funds in the condensed consolidated balance sheets.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make assumptions and estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management’s estimates are based on historical experiences and other factors, including expectations of future events that management believes to be reasonable under the circumstances. It also requires management to exercise judgment in the process of applying the Partnership’s accounting policies. Assumptions and estimates regarding the valuation of investments and their resulting impact on performance fees involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements and the resulting impact on performance fees. Actual results could differ from these estimates and such differences could be material.
Business Combinations	Business Combinations The Partnership accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Contingent consideration obligations that are elements of consideration transferred are recognized as of the acquisition date as part of the fair value transferred in exchange for the acquired business. Acquisition-related costs incurred in connection with a business combination are expensed as incurred.
Revenue Recognition	Revenue Recognition Fund Management Fees The Partnership provides management services to funds in which it holds a general partner interest or has a management agreement. For corporate private equity, certain global market strategies funds and real assets funds, management fees are calculated based on (a) limited partners’ capital commitments to the funds, (b) limited partners’ remaining capital invested in the funds at cost or at the lower of cost or aggregate remaining fair value, (c) gross assets, excluding cash and cash equivalents or (d) the net asset value (“NAV”) of certain of the funds, less offsets for the non-affiliated limited partners’ share of transaction advisory and portfolio fees earned, as defined in the respective partnership agreements. Management fees for corporate private equity, closed-end carry funds in the global market strategies segment and real assets funds generally range from 1% to 2% of commitments during the investment period of the relevant fund. Following the expiration or termination of the investment period of such funds, the management fees generally step-down to between 0.2% and 2.0% generally on the lower of cost or fair value of capital invested; however, certain of the Partnership's managed accounts, as well as longer-dated carry funds, earn management fees at all times on contributions for unrealized investments or the current value of the investment. The Partnership will receive management fees for corporate private equity and real assets funds during a specified period of time, which is generally ten years from the initial closing date, or, in some instances, from the final closing date, but such termination date may be earlier in certain limited circumstances or later if extended for successive one -year periods, typically up to a maximum of two years . Depending upon the contracted terms of investment advisory or investment management and related agreements, these fees are generally called semi-annually in advance and are recognized as earned over the subsequent six month period. For certain global market strategies funds, management fees are calculated based on assets under management of the funds with generally lower fee rates. Hedge funds typically pay management fees quarterly that generally range from 1.25% to 1.55% of NAV per year. Management fees for the business development companies are due quarterly in arrears at annual rates that range from 0.25% to 1.0% of gross assets, excluding cash and cash equivalents. Management fees for the CLOs and other structured products typically range from 0.15% to 1.0% on the total par amount of assets or the aggregate principal amount of the notes in the CLO and are due quarterly or semi-annually based on the terms and recognized over the respective period. Management fees for the CLOs/structured products are governed by indentures and collateral management agreements. The Partnership will receive management fees for the CLOs until redemption of the securities issued by the CLOs, which is generally five to ten years after issuance. Open-ended funds typically do not have stated termination dates. Management fees for the Partnership's private equity and real estate fund of funds vehicles generally range from 0.3% to 1.0% on the vehicle’s capital commitments during the commitment fee period of the relevant fund or the weighted-average investment period of the underlying funds. Following the expiration of the commitment fee period or weighted-average investment period of such funds, the management fees generally range from 0.3% to 1.0% on the lower of cost or fair value of the capital invested, the net asset value for unrealized investments, or the contributions for unrealized investments; however, certain managed accounts earn management fees at all times on contributions for unrealized investments. Management fees for the Partnership's Investment Solutions segment are generally due quarterly and recognized over the related quarter. The Partnership also provides transaction advisory and portfolio advisory services to the portfolio companies, and where covered by separate contractual agreements, recognizes fees for these services when the service has been provided and collection is reasonably assured. Fund management fees includes transaction and portfolio advisory fees of $5.2 million and $4.0 million for the three months ended September 30, 2016 and 2015 , respectively, and $37.1 million and $16.4 million for the nine months ended September 30, 2016 and 2015 , respectively, net of any offsets as defined in the respective partnership agreements. Fund management fees exclude the reimbursement of any partnership expenses paid by the Partnership on behalf of the Carlyle funds pursuant to the limited partnership agreements, including amounts related to the pursuit of actual, proposed, or unconsummated investments, professional fees, expenses associated with the acquisition, holding and disposition of investments, and other fund administrative expenses. Performance Fees Performance fees consist principally of the allocation of profits from certain of the funds to which the Partnership is entitled (commonly known as carried interest). The Partnership is generally entitled to a 20% allocation (or 10% to 20% on certain longer-dated carry funds as well as some external coinvestment vehicles, or approximately 2% to 10% in the case of most of the Partnership's fund of funds vehicles) of the net realized income or gain as a carried interest after returning the invested capital, the allocation of preferred returns of generally 7% to 9% (or 4% to 7% for certain longer-dated carry funds) and return of certain fund costs (generally subject to catch-up provisions as set forth in the fund limited partnership agreement) from its corporate private equity and real assets funds and closed-end carry funds in the global market strategies segment. Carried interest is recognized upon appreciation of the funds’ investment values above certain return hurdles set forth in each respective partnership agreement. The Partnership recognizes revenues attributable to performance fees based upon the amount that would be due pursuant to the fund partnership agreement at each period end as if the funds were terminated at that date. Accordingly, the amount recognized as performance fees reflects the Partnership’s share of the gains and losses of the associated funds’ underlying investments measured at their then-current fair values relative to the fair values as of the end of the prior period. Because of the inherent uncertainty, these estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and it is reasonably possible that the difference could be material. Carried interest is ultimately realized when: (i) an underlying investment is profitably disposed of, (ii) certain costs borne by the limited partner investors have been reimbursed, (iii) the fund’s cumulative returns are in excess of the preferred return and (iv) the Partnership has decided to collect carry rather than return additional capital to limited partner investors. Realized carried interest may be required to be returned by the Partnership in future periods if the funds’ investment values decline below certain levels. When the fair value of a fund’s investments remains constant or falls below certain return hurdles, previously recognized performance fees are reversed. In all cases, each fund is considered separately in this regard, and for a given fund, performance fees can never be negative over the life of a fund. If upon a hypothetical liquidation of a fund’s investments at their then-current fair values, previously recognized and distributed carried interest would be required to be returned, a liability is established for the potential giveback obligation. As of September 30, 2016 and December 31, 2015 , the Partnership has recognized $224.4 million and $252.0 million , respectively, for giveback obligations. In addition to its performance fees from its corporate private equity and real assets funds and closed-end carry funds in the global market strategies segment, the Partnership is also entitled to receive performance fees from certain of its global market strategies funds and investment solutions fund of funds vehicles when the return on assets under management exceeds certain benchmark returns or other performance targets. In such arrangements, performance fees are recognized when the performance benchmark has been achieved, and are included in performance fees in the accompanying condensed consolidated statements of operations. Investment Income (Loss) Investment income (loss) represents the unrealized and realized gains and losses resulting from the Partnership’s equity method investments and other principal investments. Equity method investment income (loss) includes the related amortization of the basis difference between the Partnership’s carrying value of its investment and the Partnership’s share of underlying net assets of the investee, as well as the compensation expense associated with compensatory arrangements provided by the Partnership to employees of its equity method investee. Investment income (loss) is realized when the Partnership redeems all or a portion of its investment or when the Partnership receives or is due cash income, such as dividends or distributions. Unrealized investment income (loss) results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. Interest Income Interest income is recognized when earned. For debt securities representing non-investment grade beneficial interests in securitizations, the effective yield is determined based on the estimated cash flows of the security. Changes in the effective yield of these securities due to changes in estimated cash flows are recognized on a prospective basis as adjustments to interest income in future periods. Interest income earned by the Partnership is included in interest and other income in the accompanying condensed consolidated statements of operations. Interest income of the Consolidated Funds was $40.0 million and $219.0 million for the three months ended September 30, 2016 and 2015 , respectively, and $101.6 million and $654.7 million for the nine months ended September 30, 2016 and 2015 , respectively, and is included in interest and other income of Consolidated Funds in the accompanying condensed consolidated statements of operations.
Compensation and Benefits	Compensation and Benefits Base Compensation – Base compensation includes salaries, bonuses (discretionary awards and guaranteed amounts), performance payment arrangements and benefits paid and payable to Carlyle employees. Bonuses are accrued over the service period to which they relate. Equity-Based Compensation – Compensation expense relating to the issuance of equity-based awards to Carlyle employees is measured at fair value on the grant date. The compensation expense for awards that vest over a future service period is recognized over the relevant service period on a straight-line basis, adjusted for estimated forfeitures of awards that are not expected to vest. The compensation expense for awards that do not require future service is recognized immediately. Upon the end of the service period, compensation expense is adjusted to account for the actual forfeiture rate. Cash settled equity-based awards are classified as liabilities and are re-measured at the end of each reporting period. The compensation expense for awards that contain performance conditions is recognized when it is probable that the performance conditions will be achieved; in certain instances, such compensation expense may be recognized prior to the grant date of the award. Equity-based awards issued to non-employees are recognized as general, administrative and other expenses. The grant-date fair value of equity-based awards granted to Carlyle’s non-employee directors is expensed on a straight-line basis over the vesting period. The cost of services received in exchange for an equity-based award issued to non-employees who are not directors is measured at each vesting date, and is not measured based on the grant-date fair value of the award unless the award is vested at the grant date. Equity-based awards that require the satisfaction of future service criteria are recognized over the relevant service period, adjusted for estimated forfeitures of awards that are not expected to vest, based on the fair value of the award on each reporting date and adjusted for the actual fair value of the award at each vesting date. Accordingly, the measured value of the award will not be finalized until the vesting date. Performance Fee Related Compensation – A portion of the performance fees earned is due to employees and advisors of the Partnership. These amounts are accounted for as compensation expense in conjunction with the recognition of the related performance fee revenue and, until paid, are recognized as a component of the accrued compensation and benefits liability. Accordingly, upon a reversal of performance fee revenue, the related compensation expense, if any, is also reversed.
Income Taxes	Income Taxes Certain of the wholly-owned subsidiaries of the Partnership and the Carlyle Holdings partnerships are subject to federal, state, local and foreign corporate income taxes at the entity level and the related tax provision attributable to the Partnership’s share of this income is reflected in the condensed consolidated financial statements. Based on applicable federal, foreign, state and local tax laws, the Partnership records a provision for income taxes for certain entities. Tax positions taken by the Partnership are subject to periodic audit by U.S. federal, state, local and foreign taxing authorities. The Partnership accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement reporting and the tax basis of assets and liabilities using enacted tax rates in effect for the period in which the difference is expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the period of the change in the provision for income taxes. Further, deferred tax assets are recognized for the expected realization of available net operating loss and tax credit carry forwards. A valuation allowance is recorded on the Partnership’s gross deferred tax assets when it is “more likely than not” that such asset will not be realized. When evaluating the realizability of the Partnership’s deferred tax assets, all evidence, both positive and negative, is evaluated. Items considered in this analysis include the ability to carry back losses, the reversal of temporary differences, tax planning strategies, and expectations of future earnings. Under U.S. GAAP for income taxes, the amount of tax benefit to be recognized is the amount of benefit that is “more likely than not” to be sustained upon examination. The Partnership analyzes its tax filing positions in all of the U.S. federal, state, local and foreign tax jurisdictions where it is required to file income tax returns, as well as for all open tax years in these jurisdictions. If, based on this analysis, the Partnership determines that uncertainties in tax positions exist, a liability is established, which is included in accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements. The Partnership recognizes accrued interest and penalties related to unrecognized tax positions in the provision for income taxes. If recognized, the entire amount of unrecognized tax positions would be recorded as a reduction in the provision for income taxes.
Tax Receivable Agreement	Tax Receivable Agreement Exchanges of Carlyle Holdings partnership units for the Partnership’s common units that are executed by the limited partners of the Carlyle Holdings partnerships result in transfers of and increases in the tax basis of the tangible and intangible assets of Carlyle Holdings, primarily attributable to a portion of the goodwill inherent in the business. These transfers and increases in tax basis will increase (for tax purposes) depreciation and amortization and therefore reduce the amount of tax that certain of the Partnership’s subsidiaries, including Carlyle Holdings I GP Inc., which are referred to as the “corporate taxpayers,” would otherwise be required to pay in the future. This increase in tax basis may also decrease gain (or increase loss) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The Partnership has entered into a tax receivable agreement with the limited partners of the Carlyle Holdings partnerships whereby the corporate taxpayers have agreed to pay to the limited partners of the Carlyle Holdings partnerships involved in any exchange transaction 85% of the amount of cash tax savings, if any, in U.S. federal, state and local income tax or foreign or franchise tax that the corporate taxpayers realize as a result of these increases in tax basis and, in limited cases, transfers or prior increases in tax basis. The corporate taxpayers expect to benefit from the remaining 15% of cash tax savings, if any, in income tax they realize. Payments under the tax receivable agreement will be based on the tax reporting positions that the Partnership will determine. The corporate taxpayers will not be reimbursed for any payments previously made under the tax receivable agreement if a tax basis increase is successfully challenged by the Internal Revenue Service. The Partnership records an increase in deferred tax assets for the estimated income tax effects of the increases in tax basis based on enacted federal and state tax rates at the date of the exchange. To the extent that the Partnership estimates that the corporate taxpayers will not realize the full benefit represented by the deferred tax asset, based on an analysis that will consider, among other things, its expectation of future earnings, the Partnership will reduce the deferred tax asset with a valuation allowance and will assess the probability that the related liability owed under the tax receivable agreement will be paid. The Partnership records 85% of the estimated realizable tax benefit (which is the recorded deferred tax asset less any recorded valuation allowance) as an increase to the liability due under the tax receivable agreement, which is included in due to affiliates in the accompanying condensed consolidated financial statements. The remaining 15% of the estimated realizable tax benefit is initially recorded as an increase to the Partnership’s partners’ capital. All of the effects to the deferred tax asset of changes in any of the Partnership’s estimates after the tax year of the exchange will be reflected in the provision for income taxes. Similarly, the effect of subsequent changes in the enacted tax rates will be reflected in the provision for income taxes.
Non-controlling Interests	Non-controlling Interests Non-controlling interests in consolidated entities represent the component of equity in consolidated entities held by third-party investors. These interests are adjusted for general partner allocations and by subscriptions and redemptions in hedge funds which occur during the reporting period. Any change in ownership of a subsidiary while the controlling financial interest is retained is accounted for as an equity transaction between the controlling and non-controlling interests. Transaction costs incurred in connection with such changes in ownership of a subsidiary are recorded as a direct charge to partners’ capital. Prior to January 1, 2016, non-controlling interests related to hedge funds were subject to quarterly or monthly redemption by investors in these funds following the expiration of a specified period of time, or were withdrawn subject to a redemption fee during the period when capital could not be withdrawn. As limited partners in these types of funds have been granted redemption rights, amounts relating to third-party interests in such consolidated funds were presented as redeemable non-controlling interests in consolidated entities within the condensed consolidated balance sheets. When redeemable amounts became contractually payable to investors, they were classified as a liability and included in other liabilities of Consolidated Funds in the condensed consolidated balance sheets. As a result of the adoption of the new consolidation guidance on January 1, 2016, the Partnership deconsolidated certain hedge funds that were previously consolidated and redeemable non-controlling interests in consolidated entities do not include any third-party interests from such hedge funds. Therefore, at September 30, 2016 , redeemable non-controlling interests in consolidated entities now solely represent ownership interests in consolidated subsidiaries which are redeemable and not owned by the Partnership. Non-controlling interests in Carlyle Holdings relate to the ownership interests of the other limited partners of the Carlyle Holdings partnerships. The Partnership, through wholly-owned subsidiaries, is the sole general partner of Carlyle Holdings. Accordingly, the Partnership consolidates Carlyle Holdings into its consolidated financial statements, and the other ownership interests in Carlyle Holdings are reflected as non-controlling interests in the Partnership’s condensed consolidated financial statements. Any change to the Partnership’s ownership interest in Carlyle Holdings while it retains the controlling financial interest in Carlyle Holdings is accounted for as a transaction within partners’ capital as a reallocation of ownership interests in Carlyle Holdings.
Earnings Per Common Unit	Earnings Per Common Unit The Partnership computes earnings per common unit in accordance with ASC 260, Earnings Per Share (“ASC 260”) . Basic earnings per common unit is calculated by dividing net income (loss) attributable to the common units of the Partnership by the weighted-average number of common units outstanding for the period. Diluted earnings per common unit reflects the assumed conversion of all dilutive securities. Net income (loss) attributable to the common units excludes net income (loss) and dividends attributable to any participating securities under the two-class method of ASC 260.
Investments	Investments Investments include (i) the Partnership’s ownership interests (typically general partner interests) in the Funds, (ii) strategic investments made by the Partnership (both of which are accounted for as equity method investments), (iii) the investments held by the Consolidated Funds (which are presented at fair value in the Partnership’s condensed consolidated financial statements), and (iv) certain credit-oriented investments, including investments in the CLOs (which are accounted for as trading securities). The valuation procedures utilized for investments of the Funds vary depending on the nature of the investment. The fair value of investments in publicly-traded securities is based on the closing price of the security with adjustments to reflect appropriate discounts if the securities are subject to restrictions. The fair value of non-equity securities or other investments, which may include instruments that are not listed on an exchange, considers, among other factors, external pricing sources, such as dealer quotes or independent pricing services, recent trading activity or other information that, in the opinion of the Partnership, may not have been reflected in pricing obtained from external sources. When valuing private securities or assets without readily determinable market prices, the Partnership gives consideration to operating results, financial condition, economic and/or market events, recent sales prices and other pertinent information. These valuation procedures may vary by investment, but include such techniques as comparable public market valuation, comparable acquisition valuation and discounted cash flow analysis. Because of the inherent uncertainty, these estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and it is reasonably possible that the difference could be material. Furthermore, there is no assurance that, upon liquidation, the Partnership will realize the values presented herein. Upon the sale of a security or other investment, the realized net gain or loss is computed on a weighted average cost basis, with the exception of the investments held by the CLOs, which compute the realized net gain or loss on a first in, first out basis. Securities transactions are recorded on a trade date basis.
Equity-Method Investments	Equity Method Investments The Partnership accounts for all investments in which it has or is otherwise presumed to have significant influence, including investments in the unconsolidated Funds and strategic investments, using the equity method of accounting. The carrying value of equity method investments is determined based on amounts invested by the Partnership, adjusted for the equity in earnings or losses of the investee allocated based on the respective partnership agreement, less distributions received. The Partnership evaluates its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash held at banks and cash held for distributions, including temporary investments with original maturities of less than three months when purchased.
Cash and Cash Equivalents Held at Consolidated Funds	Cash and Cash Equivalents Held at Consolidated Funds Cash and cash equivalents held at Consolidated Funds consists of cash and cash equivalents held by the Consolidated Funds, which, although not legally restricted, is not available to fund the general liquidity needs of the Partnership.
Restricted Cash	Restricted Cash Restricted cash at September 30, 2016 and December 31, 2015 primarily represents cash held by the Partnership’s foreign subsidiaries due to certain government regulatory capital requirements.
Restricted Cash and Securities of Consolidated Funds	Restricted Cash and Securities of Consolidated Funds Certain CLOs receive cash from various counterparties to satisfy collateral requirements on derivative transactions or hold U.S. Treasury notes and corporate bonds as collateral for specific classes of loans payable in the CLOs. Cash and securities held to satisfy these collateral requirements of $18.4 million is included in restricted cash and securities of Consolidated Funds at December 31, 2015 .
Derivative Instruments	Derivative Instruments The Partnership uses derivative instruments primarily to reduce its exposure to changes in foreign currency exchange rates. Derivative instruments are recognized at fair value in the condensed consolidated balance sheets with changes in fair value recognized in the condensed consolidated statements of operations for all derivatives not designated as hedging instruments. For all derivatives where hedge accounting is applied, effectiveness testing and other procedures to assess the ongoing validity of the hedges are performed at least quarterly. For instruments designated as cash flow hedges, the Partnership records changes in the estimated fair value of the derivative, to the extent that the hedging relationship is effective, in other comprehensive income (loss). If the hedging relationship for a derivative is determined to be ineffective, due to changes in the hedging instrument or the hedged items, the fair value of the portion of the hedging relationship determined to be ineffective will be recognized as a gain or loss in the condensed consolidated statements of operations.
Fixed Assets	Fixed Assets Fixed assets consist of furniture, fixtures and equipment, leasehold improvements, and computer hardware and software and are stated at cost, less accumulated depreciation and amortization. Depreciation is recognized on a straight-line method over the assets’ estimated useful lives, which for leasehold improvements are the lesser of the lease terms or the life of the asset, and three to seven years for other fixed assets. Fixed assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Intangible Assets and Goodwill	Intangible Assets and Goodwill The Partnership’s intangible assets consist of acquired contractual rights to earn future fee income, including management and advisory fees, customer relationships, and acquired trademarks. Finite-lived intangible assets are amortized over their estimated useful lives, which range from five to ten years, and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Partnership’s intangible assets include acquired contractual rights for fee income related to open-ended funds. Open-ended funds are subject to redemptions on a quarterly or more frequent basis and investors can generally decide to exit their fund investments at any time. The resulting inherent volatility in fee income derived from these contractual rights increases the degree of judgment and estimates used by management in evaluating such intangible assets for impairment. Actual results could differ from management’s estimates and assumptions and such differences could result in a material impairment. Goodwill represents the excess of cost over the identifiable net assets of businesses acquired and is recorded in the functional currency of the acquired entity. Goodwill is recognized as an asset and is reviewed for impairment annually as of October 1st and between annual tests when events and circumstances indicate that impairment may have occurred.
Deferred Revenue	Deferred Revenue Deferred revenue represents management fees and other revenue received prior to the balance sheet date, which has not yet been earned.
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The Partnership’s accumulated other comprehensive income (loss) is comprised of unrealized gains and losses on cash flow hedges, foreign currency translation adjustments and gains and losses on defined benefit plans sponsored by AlpInvest.
Foreign Currency Translation	Foreign Currency Translation Non-U.S. dollar denominated assets and liabilities are translated at period-end rates of exchange, and the condensed consolidated statements of operations are translated at rates of exchange in effect throughout the period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements I n August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments . ASU 2016-15 clarifies the classification of several discrete cash flow issues, including the treatment of cash distributions from equity method investments. The guidance is effective for the Partnership on January 1, 2018 and ASU 2016-15 requires the guidance to be applied using a retrospective transition method. Early adoption is permitted, provided that all of the amendments for all of the topics are adopted in the same period. The Partnership is currently assessing the potential impact of this guidance to its consolidated statements of cash flows. In June 2016, the FASB issued ASU 2016-13, Accounting for Financial Instruments - Credit Losses (Topic 326) . ASU 2016-13 requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Currently, GAAP requires an "incurred loss" methodology that delays recognition until it is probable a loss has been incurred. Under the new standard, the allowance for credit losses must be deducted from the amortized cost of the financial asset to present the net amount expected to be collected. The income statement will reflect the measurement of credit losses for newly recognized financial assets as well as the expected increases or decreases of expected credit losses that have taken place during the period. This provision of the guidance requires a modified retrospective transition method and will result in a cumulative-effect adjustment in retained earnings upon adoption. This guidance is effective for the Partnership on January 1, 2020 and early adoption is permitted. The Partnership is currently assessing the potential impact of this guidance. In March 2016, the FASB issued ASU 2016-9, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . ASU 2016-9 changes certain aspects of accounting for share-based payments to employees. ASU 2016-9 requires the income tax effects of awards to be recognized through the income statement when the awards vest or are settled. Currently, an entity must determine for each award whether the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes results in either an excess tax benefit or a tax deficiency. Excess tax benefits have been recognized in partners’ capital, while tax deficiencies have been recognized as an offset to accumulated excess tax benefits or in the income statement. Under ASU 2016-9, all excess tax benefits and tax deficiencies are required to be recognized as income tax benefit or expense in the income statement. This provision of the guidance is required to be applied prospectively. Additionally, ASU 2016-9 allows an employer to withhold employee shares upon vest up to maximum statutory tax rates without causing an award to be classified as a liability. This provision of the guidance requires a modified retrospective transition method. Finally, the current equity-based compensation guidance requires cost to be measured based on the number of awards that are expected to vest. Under ASU 2016-9, an accounting policy election can be made to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. This provision of the guidance requires a modified retrospective transition method and will result in a cumulative-effect adjustment in retained earnings upon adoption. This guidance is effective for the Partnership on January 1, 2017 and the Partnership plans to adopt this guidance on that date. The Partnership is currently assessing the impact of this guidance and the Partnership does not expect it to have a material impact on the financial statements upon adoption. In February 2016, the FASB issued ASU 2016-2, Leases (Topic 842) . ASU 2016-2 requires lessees to recognize virtually all of their leases on the balance sheet, by recording a right-of-use asset and a lease liability. The lease liability will be measured at the present value of lease payments and the right-of-use asset will be based on the lease liability value, subject to adjustments. Leases can be classified as either operating leases or finance leases. Operating leases will result in straight-line lease expense, while finance leases will result in front-loaded expense. This guidance is effective for the Partnership on January 1, 2019 and ASU 2016-2 requires the guidance to be applied using a modified retrospective method. Early adoption is permitted. The Partnership is currently assessing the potential impact of this guidance, however, the Partnership's total assets and total liabilities on its consolidated balance sheet will increase upon adoption of this guidance. In May 2015, the FASB issued ASU 2015-7, Fair Value Measurement (Topic 820) - Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) . ASU 2015-7 provides amended guidance on the disclosures for investments in certain entities that calculate NAV per share (or its equivalent). The amendments remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the NAV per share practical expedient. The amendments also remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The guidance was effective for the Partnership on January 1, 2016 and the guidance required adoption to be applied on a retrospective basis. The Partnership adopted this guidance on January 1, 2016 and has revised its prior period fair value disclosures accordingly (see Note 3). On April 7, 2015, the FASB issued ASU 2015-3, Interest - Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs . ASU 2015-3 requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts and premiums. This guidance was effective for the Partnership on January 1, 2016 and the guidance required adoption to be applied on a retrospective basis. The Partnership adopted this guidance on January 1, 2016 and reclassified approximately $ 9.4 million of debt issuance costs from deposits and other assets to debt obligations on its December 31, 2015 condensed consolidated balance sheet. In May 2014, the FASB issued ASU 2014-9, Revenue from Contracts with Customers (Topic 606) . ASU 2014-9 provides comprehensive guidance for recognizing revenue from contracts with customers. Entities will be able to recognize revenue when the entity transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The guidance includes a five-step framework that requires an entity to: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when the entity satisfies a performance obligation. The guidance in ASU 2014-9 is effective for the Partnership beginning on January 1, 2018, and the Partnership plans to adopt this guidance on that date. The Partnership is still assessing the potential impact of this guidance, however, this may have a material impact on the Partnership’s consolidated financial statements by significantly delaying the recognition of performance fee revenue. On January 1, 2016, the Partnership adopted ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity. ASU 2014-13 relates to reporting entities that elect to measure all eligible financial assets and financial liabilities of a consolidated collateralized financing entity at fair value. The Partnership's consolidated CLOs are consolidated collateralized financing entities for which the Partnership has measured financial assets and financial liabilities at fair value. ASU 2014-13 provides the option for a reporting entity to initially measure both the financial assets and financial liabilities using the fair value of either the financial assets or financial liabilities, whichever is more observable.
Fair Value Measurement	The fair value measurement accounting guidance establishes a hierarchal disclosure framework which ranks the observability of market price inputs used in measuring financial instruments at fair value. The observability of inputs is impacted by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices, or for which fair value can be measured from quoted prices in active markets, will generally have a higher degree of market price observability and a lesser degree of judgment applied in determining fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I – inputs to the valuation methodology are quoted prices available in active markets for identical instruments as of the reporting date. The type of financial instruments included in Level I include unrestricted securities, including equities and derivatives, listed in active markets. The Partnership does not adjust the quoted price for these instruments, even in situations where the Partnership holds a large position and a sale could reasonably impact the quoted price. Level II – inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date. The type of financial instruments in this category includes less liquid and restricted securities listed in active markets, securities traded in other than active markets, government and agency securities, and certain over-the-counter derivatives where the fair value is based on observable inputs. Level III – inputs to the valuation methodology are unobservable and significant to overall fair value measurement. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category include investments in privately-held entities, non-investment grade residual interests in securitizations, collateralized loan obligations, and certain over-the-counter derivatives where the fair value is based on unobservable inputs. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest level of input that is significant to the fair value measurement. The Partnership’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. In certain cases, debt and equity securities are valued on the basis of prices from an orderly transaction between market participants provided by reputable dealers or pricing services. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices, market transactions in comparable investments and various relationships between investments.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Schedule of assets recognized and Partnership's maximum exposure to loss	The assets recognized in the Partnership’s condensed consolidated balance sheets related to the Partnership’s variable interests in these non-consolidated VIEs and the Partnership’s maximum exposure to loss relating to unconsolidated VIEs were as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Investments $ 693.4 $ 466.8 Due from affiliates, net 4.1 19.4 Maximum Exposure to Loss $ 697.5 $ 486.2
Components of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive income (loss) as of September 30, 2016 and December 31, 2015 were as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Unrealized losses on cash flow hedge instruments $ — $ (0.5 ) Currency translation adjustments (84.6 ) (87.9 ) Unrealized losses on defined benefit plans (1.4 ) (1.7 ) Total $ (86.0 ) $ (90.1 )

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Summary of partnership's assets and liabilities measured at fair value on recurring basis	The following table summarizes the Partnership’s assets and liabilities measured at fair value on a recurring basis by the above fair value hierarchy levels as of September 30, 2016 : (Dollars in millions) Level I Level II Level III Total Assets Investments of Consolidated Funds: Equity securities $ — $ — $ 10.5 $ 10.5 Bonds — — 396.4 396.4 Loans — — 2,982.3 2,982.3 Other — — 1.7 1.7 — — 3,390.9 3,390.9 Investments in CLOs and other — — 157.3 157.3 Corporate treasury investments Bonds — 55.1 — 55.1 Commercial paper and other — 40.0 — 40.0 — 95.1 — 95.1 Foreign currency forward contracts — 0.1 — 0.1 Total $ — $ 95.2 $ 3,548.2 $ 3,643.4 Liabilities Loans payable of Consolidated Funds (1) $ — $ — $ 3,253.4 $ 3,253.4 Contingent consideration (2) — — 11.4 11.4 Loans payable of a consolidated real estate VIE — — 88.9 88.9 Foreign currency forward contracts — 19.9 — 19.9 Total $ — $ 19.9 $ 3,353.7 $ 3,373.6 (1) Senior and subordinated notes issued by CLO vehicles are classified based on the more observable fair value of the CLO financial assets, less (i) the fair value of any beneficial interests held by the Partnership and (ii) the carrying value of any beneficial interests that represent compensation for services. (2) Related to contingent cash and equity consideration associated with the Partnership's acquisitions, excluding employment-based contingent consideration (see Note 8). The following table summarizes the Partnership’s assets and liabilities measured at fair value on a recurring basis by the above fair value hierarchy levels as of December 31, 2015 : (Dollars in millions) Level I Level II Level III Total Assets Investments of Consolidated Funds: Equity securities $ 254.6 $ 311.8 $ 575.3 $ 1,141.7 Bonds — — 1,180.9 1,180.9 Loans — — 15,686.7 15,686.7 Partnership and LLC interests (1) — — 59.6 3,143.3 Hedge funds (1) — — — 2,841.2 Other — — 5.0 5.0 254.6 311.8 17,507.5 23,998.8 Trading securities — — 1.4 1.4 Foreign currency forward contracts — 1.7 — 1.7 Restricted securities of Consolidated Funds 7.9 — 8.7 16.6 Total $ 262.5 $ 313.5 $ 17,517.6 $ 24,018.5 Liabilities Loans payable of Consolidated Funds $ — $ — $ 17,046.7 $ 17,046.7 Derivative instruments of the CLOs — — 29.1 29.1 Contingent consideration (2) — — 20.8 20.8 Loans payable of a consolidated real estate VIE — — 75.4 75.4 Interest rate swaps — 0.9 — 0.9 Foreign currency forward contracts — 2.8 — 2.8 Total $ — $ 3.7 $ 17,172.0 $ 17,175.7 (1) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated balance sheets. (2) Related to contingent cash and equity consideration associated with the Partnership's acquisitions, excluding employment-based contingent consideration (see Note 8).
Changes in financial assets measured at fair value for which the Partnership has used Level III inputs	The changes in financial instruments measured at fair value for which the Partnership has used Level III inputs to determine fair value are as follows (Dollars in millions): Financial Assets Three Months Ended September 30, 2016 Investments of Consolidated Funds Equity Bonds Loans Other Investments in CLOs and other Total Balance, beginning of period $ 11.9 $ 407.8 $ 2,933.1 $ 0.1 $ 152.7 $ 3,505.6 Purchases — 45.3 352.0 — 1.0 398.3 Sales 0.1 (66.3 ) (122.0 ) — (2.2 ) (190.4 ) Settlements — — (220.7 ) — — (220.7 ) Realized and unrealized gains (losses), net Included in earnings (1.5 ) 4.1 18.4 1.6 8.7 31.3 Included in other comprehensive income — 5.5 21.5 — (2.9 ) 24.1 Balance, end of period $ 10.5 $ 396.4 $ 2,982.3 $ 1.7 $ 157.3 $ 3,548.2 Changes in unrealized gains $ (1.3 ) $ 3.5 $ 15.7 $ 0.3 $ 8.4 $ 26.6 Financial Assets Nine Months Ended September 30, 2016 Investments of Consolidated Funds Equity Bonds Loans Partnership (2) Other Investments in CLOs and other Restricted Total Balance, beginning of period $ 575.3 $ 1,180.9 $ 15,686.7 $ 59.6 $ 5.0 $ 1.4 $ 8.7 $ 17,517.6 Deconsolidation of funds (1) (562.1 ) (890.7 ) (13,506.9 ) (74.3 ) (5.0 ) 123.8 (8.7 ) (14,923.9 ) Purchases 11.1 194.3 1,490.0 12.4 — 25.9 — 1,733.7 Sales (5.1 ) (103.6 ) (249.9 ) — — (6.4 ) — (365.0 ) Settlements — — (516.9 ) — — — — (516.9 ) Realized and unrealized Included in earnings (9.0 ) 5.9 42.3 2.3 1.7 26.9 — 70.1 Included in other comprehensive income 0.3 9.6 37.0 — — (14.3 ) — 32.6 Balance, end of period $ 10.5 $ 396.4 $ 2,982.3 $ — $ 1.7 $ 157.3 $ — $ 3,548.2 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ (7.0 ) $ 5.1 $ 36.6 $ — $ 1.8 $ 26.9 $ — $ 63.4 Financial Assets Three Months Ended September 30, 2015 Investments of Consolidated Funds Equity Bonds Loans Partnership (2) Other Trading Restricted securities of Consolidated Funds Total Balance, beginning of period $ 1,023.8 $ 1,193.7 $ 15,460.9 $ — $ 4.0 $ 2.0 $ 8.7 $ 17,693.1 Transfers out (3) (115.1 ) — — — — — — (115.1 ) Purchases 32.6 177.8 2,948.7 — — — — 3,159.1 Sales (21.0 ) (117.1 ) (1,543.2 ) — — — — (1,681.3 ) Settlements — — (1,195.6 ) — — — — (1,195.6 ) Realized and unrealized gains (losses), net Included in earnings 11.1 (27.7 ) (204.7 ) — (0.7 ) (0.4 ) — (222.4 ) Included in other comprehensive income 24.6 2.5 16.1 — — — — 43.2 Balance, end of period $ 956.0 $ 1,229.2 $ 15,482.2 $ — $ 3.3 $ 1.6 $ 8.7 $ 17,681.0 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ 3.3 $ (24.9 ) $ (199.8 ) $ — $ (0.7 ) $ (0.1 ) $ — $ (222.2 ) Financial Assets Nine Months Ended September 30, 2015 Investments of Consolidated Funds Equity Bonds Loans Partnership (2) Other Trading Restricted securities of Consolidated Funds Total Balance, beginning of period $ 1,968.5 $ 1,235.8 $ 15,084.9 $ — $ 1.5 $ 3.3 $ 8.6 $ 18,302.6 Transfers out (3) (115.1 ) — — — — — (3.9 ) (119.0 ) Purchases 60.6 403.2 6,223.0 — — — 3.9 6,690.7 Sales (1,043.3 ) (324.9 ) (2,682.1 ) — — — — (4,050.3 ) Settlements — — (2,693.1 ) — — — — (2,693.1 ) Realized and unrealized gains (losses), net Included in earnings 261.0 (4.4 ) (88.3 ) — 1.9 (1.7 ) 0.1 168.6 Included in other comprehensive income (175.7 ) (80.5 ) (362.2 ) — (0.1 ) — — (618.5 ) Balance, end of period $ 956.0 $ 1,229.2 $ 15,482.2 $ — $ 3.3 $ 1.6 $ 8.7 $ 17,681.0 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ (299.2 ) $ (4.9 ) $ (112.7 ) $ — $ 2.1 $ (1.4 ) $ (0.1 ) $ (416.2 ) (1) As a result of the adoption of ASU 2015-2 and the deconsolidation of certain CLOs on January 1, 2016, $ 123.8 million of investments that the Partnership held in those CLOs are no longer eliminated in consolidation and are now included in investments in CLOs and other for the nine months ended September 30, 2016 . (2) As a result of the retrospective adoption of ASU 2015-7, the beginning balance of Partnership and LLC interests that are measured at fair value using the NAV per share practical expedient have been revised to reflect their exclusion from the fair value hierarchy. (3) Transfers into and out of Level III financial assets were due to changes in the observability of market inputs used in the valuation of such assets. Transfers are measured as of the beginning of the period in which the transfer occurs.
Changes in financial liabilities measured at fair value for which the Partnership has used Level III inputs	Financial Liabilities Three Months Ended September 30, 2016 Loans Payable Derivative Contingent Loans Payable of Total Balance, beginning of period $ 3,284.7 $ 0.3 $ 25.0 $ 81.7 $ 3,391.7 Initial consolidation of funds — — — — — Borrowings 26.4 — — — 26.4 Paydowns (99.0 ) — (10.0 ) (10.4 ) (119.4 ) Sales — (1.7 ) — — (1.7 ) Realized and unrealized (gains) losses, net Included in earnings 15.8 1.4 (3.7 ) 7.1 20.6 Included in other comprehensive income 25.5 — 0.1 10.5 36.1 Balance, end of period $ 3,253.4 $ — $ 11.4 $ 88.9 $ 3,353.7 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ 19.5 $ — $ 0.1 $ 7.1 $ 26.7 Financial Liabilities Nine Months Ended September 30, 2016 Loans Payable Derivative Contingent Loans Payable of Total Balance, beginning of period $ 17,046.7 $ 29.1 $ 20.8 $ 75.4 $ 17,172.0 Initial consolidation / (14,221.3 ) (29.0 ) — — (14,250.3 ) Borrowings 671.1 — — — 671.1 Paydowns (331.4 ) — (10.3 ) (27.3 ) (369.0 ) Sales — (1.7 ) — — (1.7 ) Realized and unrealized (gains) losses, net Included in earnings 43.8 1.6 0.8 20.9 67.1 Included in other comprehensive income 44.5 — 0.1 19.9 64.5 Balance, end of period $ 3,253.4 $ — $ 11.4 $ 88.9 $ 3,353.7 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ 36.6 $ — $ 0.5 $ 20.9 $ 58.0 Financial Liabilities Three Months Ended September 30, 2015 Loans Payable Derivative Contingent Loans Payable of a consolidated real estate VIE Total Balance, beginning of period $ 16,727.5 $ 29.1 $ 47.9 $ 112.4 $ 16,916.9 Initial consolidation of funds 584.2 — — — 584.2 Borrowings 959.5 — — — 959.5 Paydowns (1,315.9 ) — (21.4 ) (20.4 ) (1,357.7 ) Sales — (0.9 ) — — (0.9 ) Realized and unrealized (gains) losses, net Included in earnings (303.8 ) (2.4 ) (10.0 ) 12.8 (303.4 ) Included in other comprehensive income 13.6 — 0.1 4.3 18.0 Balance, end of period $ 16,665.1 $ 25.8 $ 16.6 $ 109.1 $ 16,816.6 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ (324.7 ) $ 3.3 $ (10.6 ) $ 12.8 $ (319.2 ) Financial Liabilities Nine Months Ended September 30, 2015 Loans Payable Derivative Contingent Loans Payable of a consolidated real estate VIE Total Balance, beginning of period $ 16,052.2 $ 17.2 $ 51.1 $ 146.2 $ 16,266.7 Initial consolidation of funds 1,248.6 — — — 1,248.6 Borrowings 2,584.6 — — — 2,584.6 Paydowns (2,627.6 ) — (22.5 ) (53.1 ) (2,703.2 ) Sales — (5.6 ) — — (5.6 ) Realized and unrealized (gains) losses, net Included in earnings (198.8 ) 15.1 (11.8 ) 43.9 (151.6 ) Included in other comprehensive income (393.9 ) (0.9 ) (0.2 ) (27.9 ) (422.9 ) Balance, end of period $ 16,665.1 $ 25.8 $ 16.6 $ 109.1 $ 16,816.6 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ (244.8 ) $ (12.3 ) $ (12.4 ) $ 43.9 $ (225.6 )
Summary of quantitative information about Partnership's Level III inputs	The following table summarizes quantitative information about the Partnership’s Level III inputs as of September 30, 2016 : Fair Value at Valuation Technique(s) Unobservable Input(s) Range (Dollars in millions) September 30, 2016 Assets Investments of Consolidated Funds: Equity securities 10.2 Discounted Cash Flow Discount Rates 9% - 13% (10%) Exit Cap Rate 7% - 11% (8%) 0.3 Consensus Pricing Indicative Quotes ($ per share) $5 Bonds 396.4 Consensus Pricing Indicative Quotes (% of Par) 80 - 112 (100) Loans 2,982.3 Consensus Pricing Indicative Quotes (% of Par) 10 - 102 (99) Other 1.7 Counterparty Pricing Indicative Quotes 6 - 14 (7) 3,390.9 Investments in CLOs and other: Senior secured notes 122.3 Discounted Cash Flow with Consensus Pricing Discount Rates 1% - 14% (2%) Default Rates 1% - 3% (2%) Recovery Rates 60% - 73% (66%) Indicative Quotes (% of Par) 82 - 102 (99) Subordinated notes and preferred shares 33.9 Discounted Cash Flow with Consensus Pricing Discount Rates 10% - 16% (14%) Default Rates 1% - 3% (2%) Recovery Rates 60% - 73% (65%) Indicative Quotes (% of Par) 2 - 100 (95) Other 1.1 Comparable Multiple LTM EBITDA Multiple 5.7x - 5.7x (5.7x) Total $ 3,548.2 Liabilities Loans payable of Consolidated Funds: Senior secured notes (1) $ 3,079.5 Other N/A N/A Subordinated notes and preferred shares (1) 44.7 Other N/A N/A 129.2 Discounted Cash Flow with Consensus Pricing Discount Rates 10% - 16% (13%) Default Rates 1% - 3% (2%) Recovery Rates 60% - 73% (66%) Indicative Quotes (% of Par) 7 - 92 (67) Loans payable of a consolidated real estate VIE 88.9 Discounted Cash Flow Discount to Expected Payment 10% - 55% (37%) Discount Rate 20% - 30% (23%) Contingent consideration (2) 11.4 Discounted Cash Flow Assumed % of Total Potential Contingent Payments 0% - 16% (5%) Discount Rate 4% - 23% (4%) Total $ 3,353.7 (1) Beginning on January 1, 2016, CLO loan payables held by third party beneficial interest holders are measured on the basis of the fair value of the financial assets of the CLO and the beneficial interests held by the Partnership. (2) Related to contingent cash consideration associated with the Partnership's acquisitions (see Note 8). The following table summarizes quantitative information about the Partnership’s Level III inputs as of December 31, 2015 : Fair Value at Valuation Technique(s) Unobservable Input(s) Range (Dollars in millions) December 31, 2015 Assets Investments of Consolidated Funds: Equity securities $ 556.0 Comparable Multiple LTM EBITDA Multiple 1.0x - 20.4x (11.4x) 8.0 Discounted Cash Flow Discount Rates 10% - 10% (10%) 5.2 Other N/A N/A 6.1 Consensus Pricing Indicative Quotes $0 - $647 ($0) Bonds 1,180.9 Consensus Pricing Indicative Quotes (% of Par) 30 - 112 (97) Loans 15,673.3 Consensus Pricing Indicative Quotes (% of Par) 28 - 102 (96) 13.4 Market Yield Analysis Market Yield 5% - 16% (10%) Partnership and LLC interests 59.6 Discounted Cash Flow Discount Rates 8% - 10% (9%) Exit Cap Rate 5% - 6% (5%) Other 5.0 Counterparty Pricing Indicative Quotes 1 - 22 (7) 17,507.5 Trading securities and other 1.4 Comparable Multiple LTM EBITDA Multiple 5.8x - 5.8x (5.8x) Restricted securities of Consolidated Funds 8.7 Consensus Pricing Indicative Quotes (% of Par) 88 - 88 (88) Total $ 17,517.6 Liabilities Loans payable of Consolidated Funds: Senior secured notes $ 15,915.5 Discounted Cash Flow with Consensus Pricing Discount Rates 1% - 12% (3%) Default Rates 1% - 5% (3%) Recovery Rates 55% - 80% (63%) Indicative Quotes (% of Par) 38 - 102 (98) Subordinated notes and preferred shares 1,112.4 Discounted Cash Flow with Consensus Pricing Discount Rates 9% - 16% (12%) Default Rates 1% - 5% (3%) Recovery Rates 55% - 80% (64%) Indicative Quotes (% of Par) 1 - 101 (55) Combination notes 18.8 Consensus Pricing Indicative Quotes (% of Par) 88 - 96 (94) Loans payable of a consolidated real estate VIE 75.4 Discounted Cash Flow Discount to Expected Payment 10% - 52% (35%) Discount Rate 20% - 30% (23%) Derivative instruments of Consolidated Funds 29.1 Counterparty Pricing Indicative Quotes 3 - 34 (22) Contingent consideration (1) 20.8 Discounted Cash Flow Assumed % of Total Potential Contingent Payments 0% - 100% (8%) Discount Rate 4% - 22% (9%) Total $ 17,172.0 (1) Related to contingent cash consideration associated with the Partnership's acquisitions (see Note 8).

Accrued Performance Fees (Table

Accrued Performance Fees (Tables)	9 Months Ended
	Sep. 30, 2016
Deferred Costs [Abstract]
Components of accrued performance fees	The components of accrued performance fees are as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Corporate Private Equity $ 1,677.3 $ 2,096.9 Global Market Strategies 81.5 78.3 Real Assets 435.3 313.6 Investment Solutions 582.5 499.8 Total $ 2,776.6 $ 2,988.6
Components of accrued giveback obligations	The components of the accrued giveback obligations are as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Corporate Private Equity $ (5.0 ) $ (36.6 ) Real Assets (219.4 ) (215.4 ) Total $ (224.4 ) $ (252.0 )
Performance fees included in revenues	The performance fees included in revenues are derived from the following segments: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 (Dollars in millions) Corporate Private Equity $ 186.5 $ (257.8 ) $ 283.0 $ 522.4 Global Market Strategies 17.8 (52.3 ) 26.8 (29.9 ) Real Assets (19.1 ) 32.1 198.6 3.3 Investment Solutions 29.5 31.4 62.4 125.5 Total $ 214.7 $ (246.6 ) $ 570.8 $ 621.3

Investments (Tables)

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 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

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying amount of intangible assets	The following table summarizes the carrying amount of intangible assets as of September 30, 2016 and December 31, 2015 : As of September 30, 2016 December 31, 2015 (Dollars in millions) Acquired contractual rights $ 386.2 $ 830.4 Acquired trademarks 6.6 6.6 Accumulated amortization (324.7 ) (739.6 ) Finite-lived intangible assets, net 68.1 97.4 Goodwill 38.5 38.3 Intangible assets, net $ 106.6 $ 135.7
Carrying amount of goodwill by segment	The following table summarizes the changes in the carrying amount of goodwill by segment as of September 30, 2016 . There is no goodwill associated with the Partnership’s Corporate Private Equity and Real Assets segments. Global Investment Total (Dollars in millions) Balance as of December 31, 2015 $ 28.0 $ 10.3 $ 38.3 Foreign currency translation — 0.2 0.2 Balance as of September 30, 2016 $ 28.0 $ 10.5 $ 38.5
Summary of expected amortization expense	The following table summarizes the expected amortization expense for October 1, 2016 through December 31, 2020 and thereafter (Dollars in millions): 2016 $ 11.0 2017 27.3 2018 15.8 2019 5.6 2020 5.6 Thereafter 2.8 $ 68.1

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Instrument [Line Items]
Schedule of Partnership's borrowings	The Partnership borrows and enters into credit agreements for its general operating and investment purposes. The Partnership’s debt obligations consist of the following (Dollars in millions): As of September 30, 2016 As of December 31, 2015 Borrowing Carrying Borrowing Carrying Senior Credit Facility Term Loan Due 5/05/2020 $ 25.0 $ 24.7 $ 25.0 $ 24.6 CLO Term Loans (See below) 34.7 34.7 13.7 13.7 3.875% Senior Notes Due 2/01/2023 500.0 497.0 500.0 496.7 5.625% Senior Notes Due 3/30/2043 600.0 600.8 600.0 600.7 Promissory Note Due 1/01/2022 120.0 120.0 — — Total debt obligations $ 1,279.7 $ 1,277.2 $ 1,138.7 $ 1,135.7
Summary of borrowings outstanding, including preferred shares classified as liabilities	As of September 30, 2016 and December 31, 2015 , the following borrowings were outstanding, which includes preferred shares classified as liabilities (Dollars in millions): As of September 30, 2016 Borrowing Fair Value Weighted Weighted Senior secured notes $ 3,082.5 $ 3,079.5 2.37 % 9.82 Subordinated notes, preferred shares and other 193.4 173.9 N/A (a) 8.64 Total $ 3,275.9 $ 3,253.4 As of December 31, 2015 Borrowing Fair Value Weighted Weighted Senior secured notes $ 16,301.0 $ 15,915.5 1.98 % 9.54 Subordinated notes, preferred shares and other 993.0 1,112.4 N/A (a) 8.64 Combination notes 20.0 18.8 N/A (b) 7.43 Total $ 17,314.0 $ 17,046.7 (a) The subordinated notes and preferred shares do not have contractual interest rates, but instead receive distributions from the excess cash flows of the CLOs. (b) The combination notes do not have contractual interest rates and have recourse only to the securities specifically held to collateralize such combination notes.
CLO Term Loans
Debt Instrument [Line Items]
Schedule of Partnership's borrowings	The Partnership's outstanding CLO term loans consist of the following (Dollars in millions): Formation Date Borrowing Borrowing Outstanding December 31, 2015 Maturity Date (2) Interest Rate as of September 30, 2016 October 3, 2013 $ 14.1 (1) $ 13.7 (1) September 28, 2018 1.75% (3) June 7, 2016 20.6 — July 15, 2027 2.59% (4) $ 34.7 $ 13.7 (1) Original borrowing amount of €12.6 million . (2) Maturity date is earlier of date indicated or the date that the CLO is dissolved. (3) Incurs interest at EURIBOR plus 1.75% . (4) Incurs interest at the weighted average rate of the underlying senior notes. Interest income on the underlying collateral approximated the amount of interest expense and was not significant for the three and nine months ended September 30, 2016 .

Contingent Consideration (Table

Contingent Consideration (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Changes in contingent consideration liabilities	The changes in the contingent consideration liabilities are as follows: Rollforward For The Three Months Ended September 30, 2016 Amounts payable to the sellers who are Carlyle professionals Performance-based Employment-based Contingent cash and other Total (Dollars in millions) Balance, beginning of period $ 9.2 $ 46.9 $ 47.0 $ 103.1 Change in carrying value 0.1 (1.7 ) (1.3 ) (2.9 ) Payments (9.3 ) — (0.7 ) (10.0 ) Balance, end of period $ — $ 45.2 $ 45.0 $ 90.2 Rollforward For The Nine Months Ended September 30, 2016 Amounts payable to the sellers who are Carlyle professionals Performance-based Employment-based Contingent cash and other Total (Dollars in millions) Balance, beginning of period $ 8.7 $ 80.4 $ 221.5 $ 310.6 Change in carrying value 0.6 (22.6 ) 7.5 (14.5 ) Payments (9.3 ) (12.6 ) (64.0 ) (a) (85.9 ) Conversion to note payable — — (120.0 ) (a) (120.0 ) Balance, end of period $ — $ 45.2 $ 45.0 $ 90.2 Rollforward For The Three Months Ended September 30, 2015 Amounts payable to the sellers who are Carlyle professionals Performance-based Employment-based Contingent cash and other Total (Dollars in millions) Balance, beginning of period $ 28.5 $ 101.6 $ 224.1 $ 354.2 Change in carrying value 0.2 (11.2 ) (7.8 ) (18.8 ) Payments (20.2 ) — (1.1 ) (21.3 ) Balance, end of period $ 8.5 $ 90.4 $ 215.2 $ 314.1 Rollforward For The Nine Months Ended September 30, 2015 Amounts payable to the sellers who are Carlyle professionals Total Performance-based Employment-based Contingent cash and other (Dollars in millions) Balance, beginning of period $ 26.8 $ 156.8 $ 201.0 $ 384.6 Change in carrying value 1.9 (60.9 ) 16.5 (a) (42.5 ) Payments (20.2 ) (3.3 ) (2.3 ) (25.8 ) Issuance of equity — (2.2 ) — (2.2 ) Balance, end of period $ 8.5 $ 90.4 $ 215.2 $ 314.1 (a) Refer to Note 5 for information on the contingent consideration payable to BNRI from the strategic investment in NGP.

Accrued Compensation and Bene34

Accrued Compensation and Benefits (Tables)	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Summary of accrued compensation and benefits	Accrued compensation and benefits consist of the following: As of September 30, 2016 December 31, 2015 (Dollars in millions) Accrued performance fee-related compensation $ 1,456.7 $ 1,511.9 Accrued bonuses 247.2 211.9 Employment-based contingent cash consideration 45.2 80.4 Other 108.4 149.0 Total $ 1,857.5 $ 1,953.2

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of unfunded commitments	The Partnership and its unconsolidated affiliates have unfunded commitments to entities within the following segments as of September 30, 2016 (Dollars in millions): Unfunded Corporate Private Equity $ 1,701.8 Global Market Strategies 515.2 Real Assets 660.2 Investment Solutions 108.2 Total $ 2,985.4
Future minimum commitments for leases	The future minimum commitments for the leases are as follows (Dollars in millions): 2016 $ 13.7 2017 51.9 2018 47.6 2019 41.9 2020 39.8 Thereafter 292.9 $ 487.8

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Amounts due from affiliates and other receivables	The Partnership had the following due from affiliates and other receivables at September 30, 2016 and December 31, 2015 : As of September 30, 2016 December 31, 2015 (Dollars in millions) Unbilled receivable for giveback obligations from current and former employees $ 6.1 $ 23.8 Notes receivable and accrued interest from affiliates 78.8 7.3 Other receivables from unconsolidated funds and affiliates, net 118.4 164.2 Total $ 203.3 $ 195.3
Amounts due to affiliates	The Partnership had the following due to affiliates balances at September 30, 2016 and December 31, 2015 : As of September 30, 2016 December 31, 2015 (Dollars in millions) Due to affiliates of Consolidated Funds $ 0.2 $ 0.3 Due to non-consolidated affiliates 33.5 51.7 Performance-based contingent cash and equity consideration related to acquisitions 33.7 35.3 Amounts owed under the tax receivable agreement 140.6 141.7 Other 14.8 16.9 Total $ 222.8 $ 245.9

Non-controlling Interests in 37

Non-controlling Interests in Consolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Components of Partnership's non-controlling interests in consolidated entities	The components of the Partnership’s non-controlling interests in consolidated entities are as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Non-Carlyle interests in Consolidated Funds $ 0.5 $ 4,213.0 Non-Carlyle interests in majority-owned subsidiaries 313.2 394.3 Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions (112.5 ) (113.5 ) Non-controlling interests in consolidated entities $ 201.2 $ 4,493.8
Components of Partnership's non-controlling interests in income (loss) of consolidated entities	The components of the Partnership’s non-controlling interests in income (loss) of consolidated entities are as follows: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 (Dollars in millions) Non-Carlyle interests in Consolidated Funds $ (1.2 ) $ (22.0 ) $ 0.2 $ 1,005.6 Non-Carlyle interests in majority-owned subsidiaries (24.7 ) (9.2 ) (21.6 ) (25.6 ) Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions (3.4 ) (22.5 ) (8.5 ) (85.1 ) Net income (loss) attributable to other non-controlling interests in consolidated entities (29.3 ) (53.7 ) (29.9 ) 894.9 Net income (loss) attributable to partners’ capital appropriated for CLOs — 30.0 — (22.9 ) Net income (loss) attributable to redeemable non-controlling interests in consolidated entities 0.2 (128.7 ) 0.1 (214.5 ) Non-controlling interests in income (loss) of consolidated entities $ (29.1 ) $ (152.4 ) $ (29.8 ) $ 657.5

Earnings Per Common Unit (Table

Earnings Per Common Unit (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Summary of basic and diluted net income per common unit	Basic and diluted net income (loss) per common unit are calculated as follows: Three Months Ended Nine Months Ended Basic Diluted Basic Diluted Net income attributable to The Carlyle Group L.P. $ 800,000 $ 800,000 $ 15,300,000 $ 15,300,000 Incremental net (loss) income from assumed exchange of Carlyle Holdings partnership units — (5,700,000 ) — 8,100,000 Net income (loss) attributable to common units $ 800,000 $ (4,900,000 ) $ 15,300,000 $ 23,400,000 Weighted-average common units outstanding 83,602,503 312,534,968 82,062,633 306,981,103 Net income (loss) per common unit $ 0.01 $ (0.02 ) $ 0.19 $ 0.08 Three Months Ended Nine Months Ended Basic Diluted Basic Diluted Net loss attributable to The Carlyle Group L.P. $ (83,900,000 ) $ (83,900,000 ) $ (13,800,000 ) $ (13,800,000 ) Dilution of earnings due to participating securities with distribution rights 820,200 — 163,250 (1,423,000 ) Incremental net loss from assumed exchange of Carlyle Holdings partnership units — (250,900,000 ) — (67,800,000 ) Net loss attributable to common units $ (83,079,800 ) $ (334,800,000 ) $ (13,636,750 ) $ (83,023,000 ) Weighted-average common units outstanding 78,849,332 301,558,908 72,812,892 299,143,320 Net loss per common unit $ (1.05 ) $ (1.11 ) $ (0.19 ) $ (0.28 )
Summary of weighted-average common units outstanding, basic and diluted	The weighted-average common units outstanding, basic and diluted, are calculated as follows: Three Months Ended Nine Months Ended Basic Diluted Basic Diluted The Carlyle Group L.P. weighted-average common units outstanding 83,602,503 83,602,503 82,062,633 82,062,633 Unvested deferred restricted common units — 3,569,302 — 3,181,825 Weighted-average vested Carlyle Holdings Partnership units — 224,826,988 — 221,377,938 Unvested Carlyle Holdings Partnership units — 536,175 — 358,707 Weighted-average common units outstanding 83,602,503 312,534,968 82,062,633 306,981,103 Three Months Ended Nine Months Ended Basic Diluted Basic Diluted The Carlyle Group L.P. weighted-average common units outstanding 78,849,332 78,849,332 72,812,892 72,812,892 Unvested deferred restricted common units — — — — Weighted-average vested Carlyle Holdings Partnership units — 216,864,271 — 216,956,438 Unvested Carlyle Holdings Partnership units — 5,845,305 — 9,373,990 Weighted-average common units outstanding 78,849,332 301,558,908 72,812,892 299,143,320

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of status of non-vested equity-based awards	A summary of the status of the Partnership’s non-vested equity-based awards as of September 30, 2016 and a summary of changes for the nine months ended September 30, 2016 , are presented below: Carlyle Holdings The Carlyle Group, L.P. Equity Settled Awards Cash Settled Awards Unvested Units Partnership Weighted- Deferred Weighted- Unvested Weighted- Phantom Weighted- Balance, December 31, 2015 26,819,112 $ 22.18 18,420,434 $ 24.62 766,991 $ 27.41 6,741 $ 34.58 Granted — $ — 5,619,372 $ 11.29 — $ — — $ — Vested 8,995,688 $ 22.00 6,726,993 $ 25.17 728,080 $ 27.71 3,480 $ 34.45 Forfeited 503,538 $ 22.00 1,243,783 $ 23.67 — $ — 741 $ 34.39 Balance, September 30, 2016 17,319,886 $ 22.26 16,069,030 $ 19.83 38,911 $ 21.67 2,520 $ 34.81

Consolidation of a Real Estat40

Consolidation of a Real Estate Development Company (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Assets and liabilities recognized in the Partnership’s condensed consolidated balance sheets	The assets and liabilities recognized in the Partnership’s condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015 related to Urbplan were as follows: As of September 30, 2016 December 31, 2015 (Dollars in millions) Receivables and inventory of a consolidated real estate VIE: Customer and other receivables $ 99.6 $ 71.8 Inventory costs in excess of billings and advances 32.0 71.8 $ 131.6 $ 143.6 Other assets of a consolidated real estate VIE: Restricted investments $ 13.9 $ 14.6 Fixed assets, net 0.1 0.8 Deferred tax assets 10.1 8.4 Other assets 17.2 23.8 $ 41.3 $ 47.6 Loans payable of a consolidated real estate VIE, at fair value (principal amount of $148.2 million and $125.6 million as of September 30, 2016 and December 31, 2015, respectively) $ 88.9 $ 75.4 Other liabilities of a consolidated real estate VIE: Accounts payable $ 14.9 $ 14.5 Other liabilities 83.4 69.9 $ 98.3 $ 84.4
Revenues and expenses recognized in the Partnership’s condensed consolidated statements of operations	The revenues and expenses recognized in the Partnership’s condensed consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 , respectively, related to Urbplan were as follows: Three Months Ended September 30, 2016 Nine Months Ended (Dollars in millions) Revenue of a consolidated real estate VIE Land development services $ 7.8 $ 35.5 Investment income 10.9 26.0 $ 18.7 $ 61.5 Interest and other expenses of a consolidated real estate VIE: Costs of products sold and services rendered $ 4.7 $ 18.9 Interest expense 12.7 36.2 Change in fair value of loans payable (2.5 ) (2.6 ) Compensation and benefits 2.1 5.5 G&A and other expenses 65.1 99.9 $ 82.1 $ 157.9 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Revenue of a consolidated real estate VIE Land development services $ 9.7 $ 71.0 Investment income 1.2 2.9 $ 10.9 $ 73.9 Interest and other expenses of a consolidated real estate VIE: Costs of products sold and services rendered $ 2.5 $ 45.7 Interest expense 13.3 33.6 Change in fair value of loans payable 3.0 12.6 Compensation and benefits 4.3 9.1 G&A and other expenses 3.7 23.4 $ 26.8 $ 124.4
Outstanding principal amounts on loans based on current contractual terms	Outstanding principal amounts on the loans based on current contractual terms are payable as follows (Dollars in millions): 2016 $ 11.0 2017 15.5 2018 18.1 2019 22.3 2020 22.1 Thereafter 59.2 $ 148.2

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Reportable segments financial data	The following table presents the financial data for the Partnership’s four reportable segments for the three months ended September 30, 2016 and as of and for the nine months ended September 30, 2016 Three Months Ended September 30, 2016 Corporate Global Real Investment Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 122.9 $ 44.1 $ 60.3 $ 33.1 $ 260.4 Portfolio advisory fees, net 2.9 0.1 — 0.8 3.8 Transaction fees, net 1.4 — — — 1.4 Total fund level fee revenues 127.2 44.2 60.3 33.9 265.6 Performance fees Realized 311.1 14.3 19.2 36.3 380.9 Unrealized (124.2 ) 3.1 2.0 (6.8 ) (125.9 ) Total performance fees 186.9 17.4 21.2 29.5 255.0 Investment income (loss) Realized 24.1 1.1 (14.1 ) — 11.1 Unrealized (9.6 ) 7.1 4.5 0.2 2.2 Total investment income (loss) 14.5 8.2 (9.6 ) 0.2 13.3 Interest income 0.9 1.1 0.4 0.1 2.5 Other income 1.3 1.2 0.4 0.2 3.1 Total revenues 330.8 72.1 72.7 63.9 539.5 Segment Expenses Compensation and benefits Direct base compensation 52.7 20.9 17.2 16.3 107.1 Indirect base compensation 17.8 7.5 8.9 2.7 36.9 Equity-based compensation 19.8 4.4 7.1 1.6 32.9 Performance fee related Realized 143.5 6.6 8.7 35.8 194.6 Unrealized (57.8 ) 1.3 (15.7 ) (9.7 ) (81.9 ) Total compensation and benefits 176.0 40.7 26.2 46.7 289.6 General, administrative, and other indirect expenses 81.4 37.7 37.2 17.3 173.6 Depreciation and amortization expense 3.4 1.5 1.4 0.9 7.2 Interest expense 7.0 3.0 4.1 1.5 15.6 Total expenses 267.8 82.9 68.9 66.4 486.0 Economic Net Income (Loss) $ 63.0 $ (10.8 ) $ 3.8 $ (2.5 ) $ 53.5 (-) Net Performance Fees 101.2 9.5 28.2 3.4 142.3 (-) Investment Income (Loss) 14.5 8.2 (9.6 ) 0.2 13.3 (+) Equity-based Compensation 19.8 4.4 7.1 1.6 32.9 (+) Reserve for Litigation and Contingencies 49.8 19.0 21.6 9.6 100.0 (=) Fee Related Earnings $ 16.9 $ (5.1 ) $ 13.9 $ 5.1 $ 30.8 (+) Realized Net Performance Fees 167.6 7.7 10.5 0.5 186.3 (+) Realized Investment Income (Loss) 24.1 1.1 (14.1 ) — 11.1 (=) Distributable Earnings $ 208.6 $ 3.7 $ 10.3 $ 5.6 $ 228.2 September 30, 2016 and the Nine Months Then Ended Corporate Global Real Investment Solutions Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 376.9 $ 147.4 $ 192.0 $ 103.7 $ 820.0 Portfolio advisory fees, net 11.2 0.7 0.1 0.8 12.8 Transaction fees, net 24.3 — — — 24.3 Total fund level fee revenues 412.4 148.1 192.1 104.5 857.1 Performance fees Realized 775.2 21.5 79.8 42.7 919.2 Unrealized (496.2 ) 4.6 165.8 19.9 (305.9 ) Total performance fees 279.0 26.1 245.6 62.6 613.3 Investment income (loss) Realized 46.6 2.7 (21.4 ) — 27.9 Unrealized (12.7 ) 14.9 6.5 (0.8 ) 7.9 Total investment income (loss) 33.9 17.6 (14.9 ) (0.8 ) 35.8 Interest income 2.7 3.7 1.3 0.3 8.0 Other income 4.0 3.5 1.0 0.4 8.9 Total revenues 732.0 199.0 425.1 167.0 1,523.1 Segment Expenses Compensation and benefits Direct base compensation 165.8 66.3 55.4 49.9 337.4 Indirect base compensation 55.6 22.7 28.2 8.6 115.1 Equity-based compensation 56.0 13.8 20.3 5.1 95.2 Performance fee related Realized 345.4 8.1 34.8 41.2 429.5 Unrealized (219.9 ) 2.2 55.2 13.3 (149.2 ) Total compensation and benefits 402.9 113.1 193.9 118.1 828.0 General, administrative, and other indirect expenses 144.3 77.1 70.7 34.6 326.7 Depreciation and amortization expense 10.2 4.6 4.4 2.6 21.8 Interest expense 21.2 8.5 12.1 4.5 46.3 Total expenses 578.6 203.3 281.1 159.8 1,222.8 Economic Net Income (Loss) $ 153.4 $ (4.3 ) $ 144.0 $ 7.2 $ 300.3 (-) Net Performance Fees 153.5 15.8 155.6 8.1 333.0 (-) Investment Income (Loss) 33.9 17.6 (14.9 ) (0.8 ) 35.8 (+) Equity-based Compensation 56.0 13.8 20.3 5.1 95.2 (+) Reserve for Litigation and Contingencies 49.8 19.0 21.6 9.6 100.0 (=) Fee Related Earnings $ 71.8 $ (4.9 ) $ 45.2 $ 14.6 $ 126.7 (+) Realized Net Performance Fees 429.8 13.4 45.0 1.5 489.7 (+) Realized Investment Income (Loss) 46.6 2.7 (21.4 ) — 27.9 (=) Distributable Earnings $ 548.2 $ 11.2 $ 68.8 $ 16.1 $ 644.3 Segment assets as of September 30, 2016 $ 2,778.8 $ 783.8 $ 1,549.6 $ 919.5 $ 6,031.7 The following table presents the financial data for the Partnership’s four reportable segments for the three and nine months ended September 30, 2015 : Three Months Ended September 30, 2015 Corporate Global Real Investment Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 152.5 $ 52.3 $ 69.3 $ 37.8 $ 311.9 Portfolio advisory fees, net 2.8 0.1 0.1 — 3.0 Transaction fees, net 0.9 — 0.1 — 1.0 Total fund level fee revenues 156.2 52.4 69.5 37.8 315.9 Performance fees Realized 258.6 11.8 57.7 5.0 333.1 Unrealized (513.9 ) (62.4 ) (9.3 ) 31.4 (554.2 ) Total performance fees (255.3 ) (50.6 ) 48.4 36.4 (221.1 ) Investment income (loss) Realized 11.0 3.1 (4.9 ) — 9.2 Unrealized (12.7 ) (5.0 ) 2.1 0.1 (15.5 ) Total investment income (loss) (1.7 ) (1.9 ) (2.8 ) 0.1 (6.3 ) Interest income 0.4 (0.4 ) 0.1 — 0.1 Other income 2.7 1.1 0.8 0.3 4.9 Total revenues (97.7 ) 0.6 116.0 74.6 93.5 Segment Expenses Compensation and benefits Direct base compensation 59.1 22.4 20.4 19.8 121.7 Indirect base compensation 23.3 6.9 9.7 2.9 42.8 Equity-based compensation 17.0 5.0 6.2 2.6 30.8 Performance fee related Realized 120.6 5.4 25.5 4.4 155.9 Unrealized (235.0 ) (28.6 ) 7.2 28.0 (228.4 ) Total compensation and benefits (15.0 ) 11.1 69.0 57.7 122.8 General, administrative, and other indirect expenses 36.4 14.0 17.0 10.7 78.1 Depreciation and amortization expense 3.3 1.3 1.2 0.8 6.6 Interest expense 7.8 2.6 2.6 1.4 14.4 Total expenses 32.5 29.0 89.8 70.6 221.9 Economic Net Income (Loss) $ (130.2 ) $ (28.4 ) $ 26.2 $ 4.0 $ (128.4 ) (-) Net Performance Fees (140.9 ) (27.4 ) 15.7 4.0 (148.6 ) (-) Investment Income (Loss) (1.7 ) (1.9 ) (2.8 ) 0.1 (6.3 ) (+) Equity-based Compensation 17.0 5.0 6.2 2.6 30.8 (=) Fee Related Earnings $ 29.4 $ 5.9 $ 19.5 $ 2.5 $ 57.3 (+) Realized Net Performance Fees 138.0 6.4 32.2 0.6 177.2 (+) Realized Investment Income (Loss) 11.0 3.1 (4.9 ) — 9.2 (=) Distributable Earnings $ 178.4 $ 15.4 $ 46.8 $ 3.1 $ 243.7 Nine Months Ended September 30, 2015 Corporate Global Real Investment Solutions Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 443.5 $ 162.6 $ 197.1 $ 116.1 $ 919.3 Portfolio advisory fees, net 11.3 0.6 0.4 — 12.3 Transaction fees, net 3.7 — 0.4 — 4.1 Total fund level fee revenues 458.5 163.2 197.9 116.1 935.7 Performance fees Realized 1,101.1 25.0 112.5 13.2 1,251.8 Unrealized (583.0 ) (40.1 ) (38.3 ) 122.1 (539.3 ) Total performance fees 518.1 (15.1 ) 74.2 135.3 712.5 Investment income (loss) Realized 22.0 5.9 (94.7 ) 0.1 (66.7 ) Unrealized (4.6 ) (10.7 ) 58.4 0.3 43.4 Total investment income (loss) 17.4 (4.8 ) (36.3 ) 0.4 (23.3 ) Interest income 0.9 0.2 0.2 0.1 1.4 Other income 8.1 3.7 2.4 1.0 15.2 Total revenues 1,003.0 147.2 238.4 252.9 1,641.5 Segment Expenses Compensation and benefits Direct base compensation 169.3 75.3 56.4 60.6 361.6 Indirect base compensation 71.1 22.1 30.8 9.8 133.8 Equity-based compensation 49.6 14.5 19.6 7.3 91.0 Performance fee related Realized 494.8 11.8 46.0 10.9 563.5 Unrealized (256.8 ) (18.6 ) 28.4 113.6 (133.4 ) Total compensation and benefits 528.0 105.1 181.2 202.2 1,016.5 General, administrative, and other indirect expenses 105.9 49.1 52.4 31.4 238.8 Depreciation and amortization expense 9.0 3.7 3.1 3.0 18.8 Interest expense 23.1 8.1 7.9 4.4 43.5 Total expenses 666.0 166.0 244.6 241.0 1,317.6 Economic Net Income (Loss) $ 337.0 $ (18.8 ) $ (6.2 ) $ 11.9 $ 323.9 (-) Net Performance Fees 280.1 (8.3 ) (0.2 ) 10.8 282.4 (-) Investment Income (Loss) 17.4 (4.8 ) (36.3 ) 0.4 (23.3 ) (+) Equity-based Compensation 49.6 14.5 19.6 7.3 91.0 (=) Fee Related Earnings $ 89.1 $ 8.8 $ 49.9 $ 8.0 $ 155.8 (+) Realized Net Performance Fees 606.3 13.2 66.5 2.3 688.3 (+) Realized Investment Income (Loss) 22.0 5.9 (94.7 ) 0.1 (66.7 ) (=) Distributable Earnings $ 717.4 $ 27.9 $ 21.7 $ 10.4 $ 777.4
Total segments to partnership income before provision for taxes reconciliation	The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the three months ended September 30, 2016 and 2015 : Three Months Ended September 30, 2016 Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 539.5 $ 43.0 $ 24.8 (a) $ 607.3 Expenses $ 486.0 $ 41.2 $ 134.6 (b) $ 661.8 Other income $ — $ 4.8 $ — (c) $ 4.8 Economic net income $ 53.5 $ 6.6 $ (109.8 ) (d) $ (49.7 ) Three Months Ended September 30, 2015 Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 93.5 $ 259.4 $ (55.4 ) (a) $ 297.5 Expenses $ 221.9 $ 355.5 $ 217.9 (b) $ 795.3 Other income (loss) $ — $ (20.6 ) $ (10.7 ) (c) $ (31.3 ) Economic net income (loss) $ (128.4 ) $ (116.7 ) $ (284.0 ) (d) $ (529.1 ) The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the nine months ended September 30, 2016 and 2015 , and Total Assets as of September 30, 2016 . September 30, 2016 and the Nine Months Then Ended Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 1,523.1 $ 107.8 $ 67.5 (a) $ 1,698.4 Expenses $ 1,222.8 $ 105.9 $ 339.4 (b) $ 1,668.1 Other income $ — $ 3.1 $ — (c) $ 3.1 Economic net income $ 300.3 $ 5.0 $ (271.9 ) (d) $ 33.4 Total assets $ 6,031.7 $ 3,601.9 $ (130.0 ) (e) $ 9,503.6 Nine Months Ended September 30, 2015 Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 1,641.5 $ 742.7 $ (93.8 ) (a) $ 2,290.4 Expenses $ 1,317.6 $ 959.5 $ 388.8 (b) $ 2,665.9 Other income $ — $ 950.3 $ (14.5 ) (c) $ 935.8 Economic net income $ 323.9 $ 733.5 $ (497.1 ) (d) $ 560.3 (a) The Revenues adjustment principally represents fund management and performance fees earned from the Consolidated Funds which were eliminated in consolidation to arrive at the Partnership’s total revenues, adjustments for amounts attributable to non-controlling interests in consolidated entities, adjustments related to expenses associated with the investments in NGP Management and its affiliates that are included in operating captions or are excluded from the segment results, adjustments to reflect the Partnership’s share of Urbplan’s net losses as a component of investment income, the inclusion of tax expenses associated with certain performance fees, and adjustments to reflect the Partnership’s ownership interests in Claren Road, ESG, and Carlyle Commodity Management that were included in Revenues in the Partnership’s segment reporting. (b) The Expenses adjustment represents the elimination of intercompany expenses of the Consolidated Funds payable to the Partnership, the inclusion of certain tax expenses associated with performance fee compensation, adjustments for amounts attributable to non-controlling interests in consolidated entities, adjustments related to expenses associated with the investment in NGP Management that are included in operating captions, adjustments to reflect the Partnership’s share of Urbplan’s net losses as a component of investment income, changes in the tax receivable agreement liability, charges and credits associated with Carlyle corporate actions and non-recurring items and adjustments to reflect the Partnership’s economic interests in Claren Road, ESG and Carlyle Commodity Management, as detailed below (Dollars in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments $ 50.6 $ 54.5 $ 175.3 $ 202.1 Acquisition related charges, including amortization of intangibles and impairment 27.7 209.6 67.0 247.9 Other non-operating expense (income) (3.7 ) (9.9 ) 0.8 (11.7 ) Tax provision associated with performance fees (2.0 ) (5.1 ) (16.1 ) (19.4 ) Non-Carlyle economic interests in acquired business 69.4 26.2 120.7 134.6 Severance and other adjustments 1.5 0.1 10.3 3.1 Elimination of expenses of Consolidated Funds (8.9 ) (57.5 ) (18.6 ) (167.8 ) $ 134.6 $ 217.9 $ 339.4 $ 388.8
Expenses adjustment representing elimination of intercompany expenses	The Expenses adjustment represents the elimination of intercompany expenses of the Consolidated Funds payable to the Partnership, the inclusion of certain tax expenses associated with performance fee compensation, adjustments for amounts attributable to non-controlling interests in consolidated entities, adjustments related to expenses associated with the investment in NGP Management that are included in operating captions, adjustments to reflect the Partnership’s share of Urbplan’s net losses as a component of investment income, changes in the tax receivable agreement liability, charges and credits associated with Carlyle corporate actions and non-recurring items and adjustments to reflect the Partnership’s economic interests in Claren Road, ESG and Carlyle Commodity Management, as detailed below (Dollars in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments $ 50.6 $ 54.5 $ 175.3 $ 202.1 Acquisition related charges, including amortization of intangibles and impairment 27.7 209.6 67.0 247.9 Other non-operating expense (income) (3.7 ) (9.9 ) 0.8 (11.7 ) Tax provision associated with performance fees (2.0 ) (5.1 ) (16.1 ) (19.4 ) Non-Carlyle economic interests in acquired business 69.4 26.2 120.7 134.6 Severance and other adjustments 1.5 0.1 10.3 3.1 Elimination of expenses of Consolidated Funds (8.9 ) (57.5 ) (18.6 ) (167.8 ) $ 134.6 $ 217.9 $ 339.4 $ 388.8
Reconciliation of income before provision for income taxes	The following table is a reconciliation of Income Before Provision for Income Taxes to Economic Net Income, to Fee Related Earnings, and to Distributable Earnings (Dollars in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Income (loss) before provision for income taxes $ (49.7 ) $ (529.1 ) $ 33.4 $ 560.3 Adjustments: Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments 50.6 54.5 175.3 202.1 Acquisition related charges, including amortization of intangibles and impairment 27.7 209.6 67.0 247.9 Other non-operating expense (income) (3.7 ) (9.9 ) 0.8 (11.7 ) Tax provision associated with performance fees (2.0 ) (5.1 ) (16.1 ) (19.4 ) Net (income) loss attributable to non-controlling interests in consolidated entities 29.1 152.4 29.8 (657.5 ) Severance and other adjustments 1.5 (0.8 ) 10.1 2.2 Economic Net Income (Loss) $ 53.5 $ (128.4 ) $ 300.3 $ 323.9 Net performance fees (1) 142.3 (148.6 ) 333.0 282.4 Investment income (loss) (1) 13.3 (6.3 ) 35.8 (23.3 ) Equity-based compensation 32.9 30.8 95.2 91.0 Reserve for litigation and contingencies 100.0 — 100.0 — Fee Related Earnings $ 30.8 $ 57.3 $ 126.7 $ 155.8 Realized performance fees, net of related compensation 186.3 177.2 489.7 688.3 Realized investment income (loss) (1) 11.1 9.2 27.9 (66.7 ) Distributable Earnings $ 228.2 $ 243.7 $ 644.3 $ 777.4 (1) See reconciliation to most directly comparable U.S. GAAP measure below: Three Months Ended September 30, 2016 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 383.4 $ (2.5 ) $ 380.9 Unrealized (168.7 ) 42.8 (125.9 ) Total performance fees 214.7 40.3 255.0 Performance fee related compensation expense Realized 189.0 5.6 194.6 Unrealized (78.1 ) (3.8 ) (81.9 ) Total performance fee related compensation expense 110.9 1.8 112.7 Net performance fees Realized 194.4 (8.1 ) 186.3 Unrealized (90.6 ) 46.6 (44.0 ) Total net performance fees $ 103.8 $ 38.5 $ 142.3 Investment income (loss) Realized $ 40.7 $ (29.6 ) $ 11.1 Unrealized 29.8 (27.6 ) 2.2 Investment income (loss) $ 70.5 $ (57.2 ) $ 13.3 Three Months Ended September 30, 2015 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 329.2 $ 3.9 $ 333.1 Unrealized (575.8 ) 21.6 (554.2 ) Total performance fees (246.6 ) 25.5 (221.1 ) Performance fee related compensation expense Realized 155.2 0.7 155.9 Unrealized (228.1 ) (0.3 ) (228.4 ) Total performance fee related compensation expense (72.9 ) 0.4 (72.5 ) Net performance fees Realized 174.0 3.2 177.2 Unrealized (347.7 ) 21.9 (325.8 ) Total net performance fees $ (173.7 ) $ 25.1 $ (148.6 ) Investment income (loss) Realized $ 12.5 $ (3.3 ) $ 9.2 Unrealized (22.0 ) 6.5 (15.5 ) Total investment income (loss) $ (9.5 ) $ 3.2 $ (6.3 ) Nine Months Ended September 30, 2016 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 905.1 $ 14.1 $ 919.2 Unrealized (334.3 ) 28.4 (305.9 ) Total performance fees 570.8 42.5 613.3 Performance fee related compensation expense Realized 423.0 6.5 429.5 Unrealized (146.1 ) (3.1 ) (149.2 ) Total performance fee related compensation expense 276.9 3.4 280.3 Net performance fees Realized 482.1 7.6 489.7 Unrealized (188.2 ) 31.5 (156.7 ) Total net performance fees $ 293.9 $ 39.1 $ 333.0 Investment income (loss) Realized $ 92.2 $ (64.3 ) $ 27.9 Unrealized 34.0 (26.1 ) 7.9 Investment income (loss) $ 126.2 $ (90.4 ) $ 35.8 Nine Months Ended September 30, 2015 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 1,251.0 $ 0.8 $ 1,251.8 Unrealized (629.7 ) 90.4 (539.3 ) Total performance fees 621.3 91.2 712.5 Performance fee related compensation expense Realized 561.7 1.8 563.5 Unrealized (146.2 ) 12.8 (133.4 ) Total performance fee related compensation expense 415.5 14.6 430.1 Net performance fees Realized 689.3 (1.0 ) 688.3 Unrealized (483.5 ) 77.6 (405.9 ) Total net performance fees $ 205.8 $ 76.6 $ 282.4 Investment income (loss) Realized $ 24.2 $ (90.9 ) $ (66.7 ) Unrealized (17.7 ) 61.1 43.4 Total investment income (loss) $ 6.5 $ (29.8 ) $ (23.3 ) (2) Adjustments to performance fees and investment income (loss) relate to (i) amounts earned from the Consolidated Funds, which were eliminated in the U.S. GAAP consolidation but were included in the segment results, (ii) amounts attributable to non-controlling interests in consolidated entities, which were excluded from the segment results, (iii) the reclassification of NGP performance fees, which are included in investment income in U.S. GAAP financial statements, and (iv) the reclassification of certain tax expenses associated with performance fees. Adjustments to investment income (loss) also include the reclassification of earnings for the investments in NGP Management and its affiliates to the appropriate operating captions for the segment results, the exclusion of charges associated with the investment in NGP Management and its affiliates that are excluded from the segment results, and adjustments to reflect the Partnership’s share of Urbplan’s net losses as investment losses for the segment results. Adjustments are also included in these financial statement captions to reflect the Partnership’s economic interests in Claren Road, ESG, and Carlyle Commodity Management. (e) The Total Assets adjustment represents the addition of the assets of the Consolidated Funds that were eliminated in consolidation to arrive at the Partnership’s total assets.

Supplemental Financial Inform42

Supplemental Financial Information (Tables)	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental financial Position	The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Partnership’s financial position as of September 30, 2016 and December 31, 2015 and results of operations for the three and nine months ended September 30, 2016 and 2015 . The supplemental statement of cash flows is presented without effects of the Consolidated Funds. As of September 30, 2016 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Assets Cash and cash equivalents $ 1,043.3 $ — $ — $ 1,043.3 Cash and cash equivalents held at Consolidated Funds — 174.1 — 174.1 Restricted cash 16.9 — — 16.9 Corporate treasury investments 95.1 — — 95.1 Accrued performance fees 2,776.6 — — 2,776.6 Investments 1,244.0 — (125.5 ) 1,118.5 Investments of Consolidated Funds — 3,390.9 — 3,390.9 Due from affiliates and other receivables, net 207.8 — (4.5 ) 203.3 Due from affiliates and other receivables of Consolidated Funds, net — 36.9 — 36.9 Receivables and inventory of a consolidated real estate VIE 131.6 — — 131.6 Fixed assets, net 101.5 — — 101.5 Deposits and other 39.9 — — 39.9 Other assets of a consolidated real estate VIE 41.3 — — 41.3 Intangible assets, net 106.6 — — 106.6 Deferred tax assets 227.1 — — 227.1 Total assets $ 6,031.7 $ 3,601.9 $ (130.0 ) $ 9,503.6 Liabilities and partners’ capital Debt obligations $ 1,277.2 $ — $ — $ 1,277.2 Loans payable of Consolidated Funds — 3,272.0 — 3,272.0 Loans payable of a consolidated real estate VIE at fair value (principal amount of $148.2 million) 88.9 — — 88.9 Accounts payable, accrued expenses and other liabilities 396.4 — — 396.4 Accrued compensation and benefits 1,857.5 — — 1,857.5 Due to affiliates 222.6 0.2 — 222.8 Deferred revenue 199.6 — — 199.6 Deferred tax liabilities 88.0 — — 88.0 Other liabilities of Consolidated Funds — 232.3 (32.0 ) 200.3 Other liabilities of a consolidated real estate VIE 98.3 — — 98.3 Accrued giveback obligations 224.4 — — 224.4 Total liabilities 4,452.9 3,504.5 (32.0 ) 7,925.4 Redeemable non-controlling interests in consolidated entities 6.2 — — 6.2 Partners’ capital 438.7 24.9 (24.9 ) 438.7 Accumulated other comprehensive loss (85.7 ) 0.2 (0.5 ) (86.0 ) Non-controlling interests in consolidated entities 200.7 0.5 — 201.2 Non-controlling interests in Carlyle Holdings 1,018.9 71.8 (72.6 ) 1,018.1 Total partners’ capital 1,572.6 97.4 (98.0 ) 1,572.0 Total liabilities and partners’ capital $ 6,031.7 $ 3,601.9 $ (130.0 ) $ 9,503.6 As of December 31, 2015 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Assets Cash and cash equivalents $ 991.5 $ — $ — $ 991.5 Cash and cash equivalents held at Consolidated Funds — 1,612.7 — 1,612.7 Restricted cash 18.9 — — 18.9 Restricted cash and securities of Consolidated Funds — 18.4 — 18.4 Accrued performance fees 3,012.2 — (23.6 ) 2,988.6 Investments 1,103.9 — (218.0 ) 885.9 Investments of Consolidated Funds — 23,996.1 2.7 23,998.8 Due from affiliates and other receivables, net 275.1 — (79.8 ) 195.3 Due from affiliates and other receivables of Consolidated Funds, net — 765.3 — 765.3 Receivables and inventory of a consolidated real estate VIE 143.6 — — 143.6 Fixed assets, net 110.9 — — 110.9 Deposits and other 45.8 3.2 — 49.0 Other assets of a consolidated real estate VIE 47.6 — — 47.6 Intangible assets, net 135.7 — — 135.7 Deferred tax assets 219.4 — — 219.4 Total assets $ 6,104.6 $ 26,395.7 $ (318.7 ) $ 32,181.6 Liabilities and partners’ capital Debt obligations $ 1,135.7 $ — $ — $ 1,135.7 Loans payable of Consolidated Funds — 17,332.5 (267.8 ) 17,064.7 Loans payable of a consolidated real estate VIE at fair value (principal amount of $125.6 million) 75.4 — — 75.4 Accounts payable, accrued expenses and other liabilities 463.8 — — 463.8 Accrued compensation and benefits 1,953.2 — — 1,953.2 Due to affiliates 245.6 1.8 (1.5 ) 245.9 Deferred revenue 40.9 — — 40.9 Deferred tax liabilities 103.5 — — 103.5 Other liabilities of Consolidated Funds — 1,882.2 (43.6 ) 1,838.6 Other liabilities of a consolidated real estate VIE 84.4 — — 84.4 Accrued giveback obligations 252.0 — — 252.0 Total liabilities 4,354.5 19,216.5 (312.9 ) 23,258.1 Redeemable non-controlling interests in consolidated entities 7.6 2,838.3 — 2,845.9 Partners’ capital 485.9 (1.4 ) 1.4 485.9 Accumulated other comprehensive income (loss) (90.4 ) 1.7 (1.4 ) (90.1 ) Partners’ capital appropriated for Consolidated Funds — 126.6 (5.8 ) 120.8 Non-controlling interests in consolidated entities 280.8 4,213.0 — 4,493.8 Non-controlling interests in Carlyle Holdings 1,066.2 1.0 — 1,067.2 Total partners’ capital 1,742.5 4,340.9 (5.8 ) 6,077.6 Total liabilities and partners’ capital $ 6,104.6 $ 26,395.7 $ (318.7 ) $ 32,181.6
Supplemental results of operations	Three Months Ended September 30, 2016 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 259.1 $ — $ (4.0 ) $ 255.1 Performance fees Realized 383.4 — — 383.4 Unrealized (168.7 ) — — (168.7 ) Total performance fees 214.7 — — 214.7 Investment income (loss) Realized 40.3 — 0.4 40.7 Unrealized 43.0 — (13.2 ) 29.8 Investment income (loss) 83.3 — (12.8 ) 70.5 Interest and other income 5.4 — (0.1 ) 5.3 Interest and other income of Consolidated Funds — 43.0 — 43.0 Revenue of a consolidated real estate VIE 18.7 — — 18.7 Total revenues 581.2 43.0 (16.9 ) 607.3 Expenses Compensation and benefits Base compensation 154.3 — — 154.3 Equity-based compensation 81.4 — — 81.4 Performance fee related Realized 189.0 — — 189.0 Unrealized (78.1 ) — — (78.1 ) Total compensation and benefits 346.6 — — 346.6 General, administrative and other expenses 188.9 — — 188.9 Interest 15.6 — — 15.6 Interest and other expenses of Consolidated Funds — 41.2 (8.9 ) 32.3 Interest and other expenses of a consolidated real estate VIE 82.1 — — 82.1 Other non-operating income (3.7 ) — — (3.7 ) Total expenses 629.5 41.2 (8.9 ) 661.8 Other income Net investment gains of Consolidated Funds — 4.8 — 4.8 Income (loss) before provision for income taxes (48.3 ) 6.6 (8.0 ) (49.7 ) Provision for income taxes 1.0 — — 1.0 Net income (loss) (49.3 ) 6.6 (8.0 ) (50.7 ) Net loss attributable to non-controlling interests in consolidated entities (27.7 ) — (1.4 ) (29.1 ) Net income (loss) attributable to Carlyle Holdings (21.6 ) 6.6 (6.6 ) (21.6 ) Net loss attributable to non-controlling interests in Carlyle Holdings (22.4 ) — — (22.4 ) Net income attributable to The Carlyle Group L.P. $ 0.8 $ 6.6 $ (6.6 ) $ 0.8 Nine Months Ended September 30, 2016 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 827.5 $ — $ (10.4 ) $ 817.1 Performance fees Realized 905.3 — (0.2 ) 905.1 Unrealized (334.3 ) — — (334.3 ) Total performance fees 571.0 — (0.2 ) 570.8 Investment income Realized 92.7 — (0.5 ) 92.2 Unrealized 45.1 — (11.1 ) 34.0 Investment income 137.8 — (11.6 ) 126.2 Interest and other income 16.3 — (1.3 ) 15.0 Interest and other income of Consolidated Funds — 107.8 — 107.8 Revenue of a consolidated real estate VIE 61.5 — — 61.5 Total revenues 1,614.1 107.8 (23.5 ) 1,698.4 Expenses Compensation and benefits Base compensation 470.5 — — 470.5 Equity-based compensation 265.8 — — 265.8 Performance fee related Realized 423.0 — — 423.0 Unrealized (146.1 ) — — (146.1 ) Total compensation and benefits 1,013.2 — — 1,013.2 General, administrative and other expenses 362.6 — — 362.6 Interest 46.3 — — 46.3 Interest and other expenses of Consolidated Funds — 105.9 (18.6 ) 87.3 Interest and other expenses of a consolidated real estate VIE 157.9 — — 157.9 Other non-operating expenses 0.8 — — 0.8 Total expenses 1,580.8 105.9 (18.6 ) 1,668.1 Other income Net investment gains of Consolidated Funds — 3.1 — 3.1 Income (loss) before provision for income taxes 33.3 5.0 (4.9 ) 33.4 Provision for income taxes 32.7 — — 32.7 Net income 0.6 5.0 (4.9 ) 0.7 Net loss attributable to non-controlling interests in consolidated entities (29.9 ) — 0.1 (29.8 ) Net income attributable to Carlyle Holdings 30.5 5.0 (5.0 ) 30.5 Net income attributable to non-controlling interests in Carlyle Holdings 15.2 — — 15.2 Net income attributable to The Carlyle Group L.P. $ 15.3 $ 5.0 $ (5.0 ) $ 15.3 Three Months Ended September 30, 2015 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 316.7 $ — $ (38.4 ) $ 278.3 Performance fees Realized 334.4 — (5.2 ) 329.2 Unrealized (569.9 ) — (5.9 ) (575.8 ) Total performance fees (235.5 ) — (11.1 ) (246.6 ) Investment income (loss) Realized 15.6 — (3.1 ) 12.5 Unrealized (24.6 ) — 2.6 (22.0 ) Total investment income (loss) (9.0 ) — (0.5 ) (9.5 ) Interest and other income 5.5 — (0.5 ) 5.0 Interest and other income of Consolidated Funds — 259.4 — 259.4 Revenue of a consolidated real estate VIE 10.9 — — 10.9 Total revenues 88.6 259.4 (50.5 ) 297.5 Expenses Compensation and benefits Base compensation 163.5 — — 163.5 Equity-based compensation 86.8 — — 86.8 Performance fee related Realized 155.2 — — 155.2 Unrealized (228.1 ) — — (228.1 ) Total compensation and benefits 177.4 — — 177.4 General, administrative and other expenses 288.5 — 1.1 289.6 Interest 14.5 — — 14.5 Interest and other expenses of Consolidated Funds — 355.5 (58.6 ) 296.9 Interest and other expenses of a consolidated real estate VIE 26.8 — — 26.8 Other non-operating income (9.9 ) — — (9.9 ) Total expenses 497.3 355.5 (57.5 ) 795.3 Other income (loss) Net investment losses of Consolidated Funds — (20.6 ) (10.7 ) (31.3 ) Loss before provision for income taxes (408.7 ) (116.7 ) (3.7 ) (529.1 ) Benefit for income taxes (4.1 ) — — (4.1 ) Net loss (404.6 ) (116.7 ) (3.7 ) (525.0 ) Net loss attributable to non-controlling interests in consolidated entities (32.0 ) — (120.4 ) (152.4 ) Net loss attributable to Carlyle Holdings (372.6 ) (116.7 ) 116.7 (372.6 ) Net loss attributable to non-controlling interests in Carlyle Holdings (288.7 ) — — (288.7 ) Net loss attributable to The Carlyle Group L.P. $ (83.9 ) $ (116.7 ) $ 116.7 $ (83.9 ) Nine Months Ended September 30, 2015 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 948.0 $ — $ (117.9 ) $ 830.1 Performance fees Realized 1,264.1 — (13.1 ) 1,251.0 Unrealized (613.1 ) — (16.6 ) (629.7 ) Total performance fees 651.0 — (29.7 ) 621.3 Investment income (loss) Realized (49.3 ) — 73.5 24.2 Unrealized 25.9 — (43.6 ) (17.7 ) Total investment income (loss) (23.4 ) — 29.9 6.5 Interest and other income 17.8 — (1.9 ) 15.9 Interest and other income of Consolidated Funds — 742.7 — 742.7 Revenue of a consolidated real estate VIE 73.9 — — 73.9 Total revenues 1,667.3 742.7 (119.6 ) 2,290.4 Expenses Compensation and benefits Base compensation 472.2 — — 472.2 Equity-based compensation 291.0 — — 291.0 Performance fee related Realized 561.7 — — 561.7 Unrealized (146.2 ) — — (146.2 ) Total compensation and benefits 1,178.7 — — 1,178.7 General, administrative and other expenses 539.2 — — 539.2 Interest 43.6 — — 43.6 Interest and other expenses of Consolidated Funds — 959.5 (167.8 ) 791.7 Interest and other expenses of a consolidated real estate VIE 124.4 — — 124.4 Other non-operating income (11.7 ) — — (11.7 ) Total expenses 1,874.2 959.5 (167.8 ) 2,665.9 Other income (loss) Net investment gains of Consolidated Funds — 950.3 (14.5 ) 935.8 Income (loss) before provision for income taxes (206.9 ) 733.5 33.7 560.3 Provision for income taxes 12.4 — — 12.4 Net income (loss) (219.3 ) 733.5 33.7 547.9 Net income (loss) attributable to non-controlling interests in consolidated entities (109.7 ) — 767.2 657.5 Net income (loss) attributable to Carlyle Holdings (109.6 ) 733.5 (733.5 ) (109.6 ) Net loss attributable to non-controlling interests in Carlyle Holdings (95.8 ) — — (95.8 ) Net income (loss) attributable to The Carlyle Group L.P. $ (13.8 ) $ 733.5 $ (733.5 ) $ (13.8 )
Supplemental statement of cash flows	Nine Months Ended September 30, 2016 2015 (Dollars in millions) Cash flows from operating activities Net income (loss) $ 0.6 $ (219.3 ) Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 52.6 281.7 Equity-based compensation 265.8 291.0 Excess tax benefits related to equity-based compensation — (1.4 ) Non-cash performance fees 108.0 584.4 Other non-cash amounts (19.2 ) 41.8 Investment (income) loss (135.8 ) 32.6 Purchases of investments and trading securities (262.7 ) (99.2 ) Proceeds from the sale of investments and trading securities 236.7 382.6 Payments of contingent consideration (82.6 ) (17.8 ) Change in deferred taxes, net 3.7 (12.0 ) Change in due from affiliates and other receivables 0.7 (3.4 ) Change in receivables and inventory of a consolidated real estate VIE 45.1 (49.5 ) Change in deposits and other 6.0 (9.3 ) Change in other assets of a consolidated real estate VIE 33.1 (10.5 ) Change in accounts payable, accrued expenses and other liabilities 71.8 (82.9 ) Change in accrued compensation and benefits 32.4 (212.8 ) Change in due to affiliates (22.4 ) 253.5 Change in other liabilities of a consolidated real estate VIE (1.2 ) 43.9 Change in deferred revenue 154.9 111.4 Net cash provided by operating activities 487.5 1,304.8 Cash flows from investing activities Change in restricted cash 1.8 (217.9 ) Purchases of fixed assets, net (13.3 ) (49.8 ) Net cash used in investing activities (11.5 ) (267.7 ) Cash flows from financing activities Proceeds from debt obligations 20.6 — Net payments on loans payable of a consolidated real estate VIE (27.3 ) (53.1 ) Payments of contingent consideration (3.3 ) (8.0 ) Excess tax benefits related to equity-based compensation — 1.4 Distributions to common unitholders (98.5 ) (206.0 ) Distributions to non-controlling interest holders in Carlyle Holdings (300.9 ) (702.4 ) Contributions from non-controlling interest holders 75.3 104.5 Distributions to non-controlling interest holders (85.5 ) (92.1 ) Net proceeds from issuance of common units, net of offering costs — 209.9 Acquisition of non-controlling interests in Carlyle Holdings — (209.9 ) Units repurchased (53.6 ) — Change in due to/from affiliates financing activities 49.5 4.4 Net cash used in financing activities (423.7 ) (951.3 ) Effect of foreign exchange rate changes (0.5 ) (20.3 ) Increase in cash and cash equivalents 51.8 65.5 Cash and cash equivalents, beginning of period 991.5 1,242.0 Cash and cash equivalents, end of period $ 1,043.3 $ 1,307.5

Organization and Basis of Pre43

Organization and Basis of Presentation - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016Segment	Sep. 30, 2015Segment	Sep. 30, 2016USD ($)Segmentshares	Sep. 30, 2015USD ($)	Feb. 29, 2016USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | Segment	4	4	4
Authorized amount for share repurchases					$ 200,000,000
Payments for repurchase of common units			$ 53,600,000	$ 0
Units repurchased and retired (in shares) | shares			3,339,300

Summary of Significant Accoun44

Summary of Significant Accounting Policies - Principles of Consolidation (Details) - USD ($) $ in Millions	Sep. 30, 2016	Jan. 01, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Deconsolidated assets	$ (9,503.6)		$ (32,181.6)
Deconsolidated liabilities	(7,925.4)		(23,258.1)
Partners' Capital	1,572		$ 6,077.6
Consolidated VIEs, assets	3,900
Consolidated VIEs, liabilities	3,700
Collateralized Loan Obligations
Variable Interest Entity [Line Items]
Investments in CLOs	$ 122.4
Accounting Standards Update 2015-2
Variable Interest Entity [Line Items]
Redeemable non-controlling interest		$ 2,800
Restatement Adjustment | Accounting Standards Update 2015-2
Variable Interest Entity [Line Items]
Deconsolidated assets		23,200
Deconsolidated liabilities		16,100
Partners' Capital		$ 4,300

Summary of Significant Accoun45

Summary of Significant Accounting Policies - Investments in Unconsolidated Variable Interest Entities (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Investments	$ 1,118.5	$ 885.9
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Investments	693.4	466.8
Due from affiliates, net	4.1	19.4
Maximum Exposure to Loss	697.5	$ 486.2
Amount of variable interests in unconsolidated VIEs related to performance fees	30.9
Amount of variable interests in unconsolidated VIEs related to management fees	$ 10.1

Summary of Significant Accoun46

Summary of Significant Accounting Policies - Basis of Accounting (Details) - USD ($) $ in Millions	Sep. 30, 2016	Jan. 01, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Partners' Capital	$ 1,572		$ 6,077.6
Accounting Standards Update 2014-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Partners' Capital		$ 2

Summary of Significant Accoun47

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fund Management Fees
Period of time for which management fees will be received by partners from the initial closing date (in years)			10 years
Subsequent period in which management fees are recognized after these fees are called (in months)			6 months
Transaction and advisory fees	$ 5.2	$ 4	$ 37.1	$ 16.4
Performance Fees
Performance fees allocation percentage to partnership			20.00%
Accrued giveback obligations	224.4		$ 224.4		$ 252
Interest Income
Interest income of Consolidated Funds	$ 40	$ 219	$ 101.6	$ 654.7
Minimum
Fund Management Fees
Percentage of management fees earned			1.00%
Percentage of management fees earned on unrealized investments after termination of the investment period			0.20%
Extension period for fund closing (in years)			1 year
Percentage of management fees paid by hedge funds			1.25%
Percentage of management fees for business development companies			0.25%
Percentage of management fees for CLOs on the total par amount of assets in the fund			0.15%
Period of management fees related to Collateralized Loan Obligation (in years)			5 years
Percentage of management fees from fund of funds following the expiration of the weighted-average investment period			0.30%
Performance Fees
External coinvestment vehicles (as a percent)			10.00%
Percentage of allocation based performance fees related to fund of funds vehicles			2.00%
Percent of preferred returns			7.00%
Minimum | Private Equity And Real Estate Fund
Fund Management Fees
Percentage of management fees from funds of funds during the commitment fee period			0.30%
Maximum
Fund Management Fees
Percentage of management fees earned			2.00%
Percentage of management fees earned on unrealized investments after termination of the investment period			2.00%
Extension period for fund closing (in years)			2 years
Percentage of management fees paid by hedge funds			1.55%
Percentage of management fees for business development companies			1.00%
Percentage of management fees for CLOs on the total par amount of assets in the fund			1.00%
Period of management fees related to Collateralized Loan Obligation (in years)			10 years
Percentage of management fees from fund of funds following the expiration of the weighted-average investment period			1.00%
Performance Fees
External coinvestment vehicles (as a percent)			20.00%
Percentage of allocation based performance fees related to fund of funds vehicles			10.00%
Percent of preferred returns			9.00%
Maximum | Private Equity And Real Estate Fund
Fund Management Fees
Percentage of management fees from funds of funds during the commitment fee period			1.00%
Certain Open-ended and Longer-dated Carry Funds | Minimum
Performance Fees
Percent of preferred returns			4.00%
Certain Open-ended and Longer-dated Carry Funds | Maximum
Performance Fees
Percent of preferred returns			7.00%

Summary of Significant Accoun48

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Accounting Policies [Abstract]
Accrued performance fee-related compensation	$ 1,456,700,000		$ 1,456,700,000		$ 1,511,900,000
Percentage of estimated realizable tax benefit to be paid by corporate taxpayers on exchange transactions			85.00%
Percentage of remaining estimated realizable tax benefit on exchange transactions			15.00%
Cash received to satisfy collateral requirements	0		$ 0		$ 18,400,000
Foreign currency translation (gains) losses	$ (7,900,000)	$ (9,900,000)	$ (30,800,000)	$ 8,600,000

Summary of Significant Accoun49

Summary of Significant Accounting Policies - Fixed Assets (Details)	9 Months Ended
	Sep. 30, 2016
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of other fixed assets (in years)	3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of other fixed assets (in years)	7 years

Summary of Significant Accoun50

Summary of Significant Accounting Policies - Intangible Assets and Goodwill (Details)	9 Months Ended
	Sep. 30, 2016
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of finite lived intangible assets (in years)	5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of finite lived intangible assets (in years)	10 years

Summary of Significant Accoun51

Summary of Significant Accounting Policies - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Unrealized losses on cash flow hedge instruments	$ 0	$ (0.5)
Currency translation adjustments	(84.6)	(87.9)
Unrealized losses on defined benefit plans	(1.4)	(1.7)
Total	$ (86)	$ (90.1)

Summary of Significant Accoun52

Summary of Significant Accounting Policies - New Accounting Pronouncements (Details) - Accounting Standards Update 2015-03 [Member] $ in Millions	Jan. 01, 2016USD ($)
Deposits And Other Assets
New Accounting Pronouncement, Early Adoption [Line Items]
Debt issuance costs	$ 9.4
Long-term Debt [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Debt issuance costs	$ (9.4)

Fair Value Measurement - Partne

Fair Value Measurement - Partnership's Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Assets
Investments of Consolidated Funds	$ 3,643.4	$ 24,018.5
Liabilities
Loans payable of Consolidated Funds	3,253.4	17,046.7
Derivative instruments of the CLOs		29.1
Contingent consideration	11.4	20.8
Loans payable of a consolidated real estate VIE	88.9	75.4
Interest rate swaps		0.9
Foreign currency forward contracts	19.9	2.8
Total Liabilities	3,373.6	17,175.7
Equity securities
Assets
Investments of Consolidated Funds	10.5	1,141.7
Bonds
Assets
Investments of Consolidated Funds	396.4	1,180.9
Loans
Assets
Investments of Consolidated Funds	2,982.3	15,686.7
Partnership and LLC interests
Assets
Investments of Consolidated Funds		3,143.3
Hedge funds
Assets
Investments of Consolidated Funds		2,841.2
Other
Assets
Investments of Consolidated Funds	1.7	5
Investments of Consolidated Funds
Assets
Investments of Consolidated Funds	3,390.9	23,998.8
Trading securities
Assets
Investments of Consolidated Funds		1.4
Investments in CLOs and other
Assets
Investments of Consolidated Funds	157.3
Bonds
Assets
Investments of Consolidated Funds	55.1
Commercial paper and other
Assets
Investments of Consolidated Funds	40
Corporate treasury investments
Assets
Investments of Consolidated Funds	95.1
Foreign currency forward contracts
Assets
Investments of Consolidated Funds	0.1	1.7
Restricted securities of Consolidated Funds
Assets
Investments of Consolidated Funds		16.6
Level I
Assets
Investments of Consolidated Funds	0	262.5
Liabilities
Loans payable of Consolidated Funds	0	0
Derivative instruments of the CLOs		0
Contingent consideration	0	0
Loans payable of a consolidated real estate VIE	0	0
Interest rate swaps		0
Foreign currency forward contracts	0	0
Total Liabilities	0	0
Level I | Equity securities
Assets
Investments of Consolidated Funds	0	254.6
Level I | Bonds
Assets
Investments of Consolidated Funds	0	0
Level I | Loans
Assets
Investments of Consolidated Funds	0	0
Level I | Partnership and LLC interests
Assets
Investments of Consolidated Funds		0
Level I | Hedge funds
Assets
Investments of Consolidated Funds		0
Level I | Other
Assets
Investments of Consolidated Funds	0	0
Level I | Investments of Consolidated Funds
Assets
Investments of Consolidated Funds	0	254.6
Level I | Trading securities
Assets
Investments of Consolidated Funds		0
Level I | Investments in CLOs and other
Assets
Investments of Consolidated Funds	0
Level I | Bonds
Assets
Investments of Consolidated Funds	0
Level I | Commercial paper and other
Assets
Investments of Consolidated Funds	0
Level I | Corporate treasury investments
Assets
Investments of Consolidated Funds	0
Level I | Foreign currency forward contracts
Assets
Investments of Consolidated Funds	0	0
Level I | Restricted securities of Consolidated Funds
Assets
Investments of Consolidated Funds		7.9
Level II
Assets
Investments of Consolidated Funds	95.2	313.5
Liabilities
Loans payable of Consolidated Funds	0	0
Derivative instruments of the CLOs		0
Contingent consideration	0	0
Loans payable of a consolidated real estate VIE	0	0
Interest rate swaps		0.9
Foreign currency forward contracts	19.9	2.8
Total Liabilities	19.9	3.7
Level II | Equity securities
Assets
Investments of Consolidated Funds	0	311.8
Level II | Bonds
Assets
Investments of Consolidated Funds	0	0
Level II | Loans
Assets
Investments of Consolidated Funds	0	0
Level II | Partnership and LLC interests
Assets
Investments of Consolidated Funds		0
Level II | Hedge funds
Assets
Investments of Consolidated Funds		0
Level II | Other
Assets
Investments of Consolidated Funds	0	0
Level II | Investments of Consolidated Funds
Assets
Investments of Consolidated Funds	0	311.8
Level II | Trading securities
Assets
Investments of Consolidated Funds		0
Level II | Investments in CLOs and other
Assets
Investments of Consolidated Funds	0
Level II | Bonds
Assets
Investments of Consolidated Funds	55.1
Level II | Commercial paper and other
Assets
Investments of Consolidated Funds	40
Level II | Corporate treasury investments
Assets
Investments of Consolidated Funds	95.1
Level II | Foreign currency forward contracts
Assets
Investments of Consolidated Funds	0.1	1.7
Level II | Restricted securities of Consolidated Funds
Assets
Investments of Consolidated Funds		0
Level III
Assets
Investments of Consolidated Funds	3,548.2	17,517.6
Liabilities
Loans payable of Consolidated Funds	3,253.4	17,046.7
Derivative instruments of the CLOs		29.1
Contingent consideration	11.4	20.8
Loans payable of a consolidated real estate VIE	88.9	75.4
Interest rate swaps		0
Foreign currency forward contracts	0	0
Total Liabilities	3,353.7	17,172
Level III | Equity securities
Assets
Investments of Consolidated Funds	10.5	575.3
Level III | Bonds
Assets
Investments of Consolidated Funds	396.4	1,180.9
Level III | Loans
Assets
Investments of Consolidated Funds	2,982.3	15,686.7
Level III | Partnership and LLC interests
Assets
Investments of Consolidated Funds		59.6
Level III | Hedge funds
Assets
Investments of Consolidated Funds		0
Level III | Other
Assets
Investments of Consolidated Funds	1.7	5
Level III | Investments of Consolidated Funds
Assets
Investments of Consolidated Funds	3,390.9	17,507.5
Level III | Trading securities
Assets
Investments of Consolidated Funds		1.4
Level III | Investments in CLOs and other
Assets
Investments of Consolidated Funds	157.3
Level III | Bonds
Assets
Investments of Consolidated Funds	0
Level III | Commercial paper and other
Assets
Investments of Consolidated Funds	0
Level III | Corporate treasury investments
Assets
Investments of Consolidated Funds	0
Level III | Foreign currency forward contracts
Assets
Investments of Consolidated Funds	$ 0	0
Level III | Restricted securities of Consolidated Funds
Assets
Investments of Consolidated Funds		$ 8.7

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Maximum lag period for which the partnership investments in funds are valued (in days)	90 days

Fair Value Measurement - Financ

Fair Value Measurement - Financial Assets Measured at Fair Value (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jan. 01, 2016
Trading securities and other | Accounting Standards Update 2015-2
Realized and unrealized gains (losses), net
Trading securities					$ 123.8
Level III
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 3,505.6	$ 17,693.1	$ 17,517.6	$ 18,302.6
Transfers out		(115.1)		(119)
Deconsolidation of funds			(14,923.9)
Purchases	398.3	3,159.1	1,733.7	6,690.7
Sales	(190.4)	(1,681.3)	(365)	(4,050.3)
Settlements	(220.7)	(1,195.6)	(516.9)	(2,693.1)
Realized and unrealized gains (losses), net
Included in earnings	31.3	(222.4)	70.1	168.6
Included in other comprehensive income	24.1	43.2	32.6	(618.5)
Balance, end of period	3,548.2	17,681	3,548.2	17,681
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	26.6	(222.2)	63.4	(416.2)
Trading securities	3,505.6	17,693.1	17,517.6	18,302.6
Level III | Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	11.9	1,023.8	575.3	1,968.5
Transfers out		(115.1)		(115.1)
Deconsolidation of funds			(562.1)
Purchases	0	32.6	11.1	60.6
Sales	0.1	(21)	(5.1)	(1,043.3)
Settlements	0	0	0	0
Realized and unrealized gains (losses), net
Included in earnings	(1.5)	11.1	(9)	261
Included in other comprehensive income	0	24.6	0.3	(175.7)
Balance, end of period	10.5	956	10.5	956
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	(1.3)	3.3	(7)	(299.2)
Trading securities	11.9	1,023.8	575.3	1,968.5
Level III | Bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	407.8	1,193.7	1,180.9	1,235.8
Transfers out		0		0
Deconsolidation of funds			(890.7)
Purchases	45.3	177.8	194.3	403.2
Sales	(66.3)	(117.1)	(103.6)	(324.9)
Settlements	0	0	0	0
Realized and unrealized gains (losses), net
Included in earnings	4.1	(27.7)	5.9	(4.4)
Included in other comprehensive income	5.5	2.5	9.6	(80.5)
Balance, end of period	396.4	1,229.2	396.4	1,229.2
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	3.5	(24.9)	5.1	(4.9)
Trading securities	407.8	1,193.7	1,180.9	1,235.8
Level III | Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	2,933.1	15,460.9	15,686.7	15,084.9
Transfers out		0		0
Deconsolidation of funds			(13,506.9)
Purchases	352	2,948.7	1,490	6,223
Sales	(122)	(1,543.2)	(249.9)	(2,682.1)
Settlements	(220.7)	(1,195.6)	(516.9)	(2,693.1)
Realized and unrealized gains (losses), net
Included in earnings	18.4	(204.7)	42.3	(88.3)
Included in other comprehensive income	21.5	16.1	37	(362.2)
Balance, end of period	2,982.3	15,482.2	2,982.3	15,482.2
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	15.7	(199.8)	36.6	(112.7)
Trading securities	2,933.1	15,460.9	15,686.7	15,084.9
Level III | Partnership and LLC interests
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		0	59.6	0
Transfers out		0		0
Deconsolidation of funds			(74.3)
Purchases		0	12.4	0
Sales		0	0	0
Settlements		0	0	0
Realized and unrealized gains (losses), net
Included in earnings		0	2.3	0
Included in other comprehensive income		0	0	0
Balance, end of period	0	0	0	0
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date		0	0	0
Trading securities	0	0	59.6	0
Level III | Other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	0.1	4	5	1.5
Transfers out		0		0
Deconsolidation of funds			(5)
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Realized and unrealized gains (losses), net
Included in earnings	1.6	(0.7)	1.7	1.9
Included in other comprehensive income	0	0	0	(0.1)
Balance, end of period	1.7	3.3	1.7	3.3
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	0.3	(0.7)	1.8	2.1
Trading securities	0.1	4	5	1.5
Level III | Investments in CLOs and other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	152.7		1.4
Deconsolidation of funds			123.8
Purchases	1		25.9
Sales	(2.2)		(6.4)
Settlements	0		0
Realized and unrealized gains (losses), net
Included in earnings	8.7		26.9
Included in other comprehensive income	(2.9)		(14.3)
Balance, end of period	157.3		157.3
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	8.4		26.9
Trading securities	152.7		1.4
Level III | Trading securities and other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		2		3.3
Transfers out		0		0
Purchases		0		0
Sales		0		0
Settlements		0		0
Realized and unrealized gains (losses), net
Included in earnings		(0.4)		(1.7)
Included in other comprehensive income		0		0
Balance, end of period		1.6		1.6
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date		(0.1)		(1.4)
Trading securities		2		3.3
Level III | Restricted securities of Consolidated Funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		8.7	8.7	8.6
Transfers out		0		(3.9)
Deconsolidation of funds			(8.7)
Purchases		0	0	3.9
Sales		0	0	0
Settlements		0	0	0
Realized and unrealized gains (losses), net
Included in earnings		0	0	0.1
Included in other comprehensive income		0	0	0
Balance, end of period	0	8.7	0	8.7
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date		0	0	(0.1)
Trading securities	$ 0	$ 8.7	$ 8.7	$ 8.6

Fair Value Measurement - Fina56

Fair Value Measurement - Financial Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Initial consolidation of funds		$ 584.2
Borrowings			$ 20.6	$ 0
Sales	$ (1.7)		(1.7)
Loans Payable of Consolidated Funds
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Initial consolidation of funds		584.2
Sales	0		0
Derivative Instruments of Consolidated Funds
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Initial consolidation of funds		0
Sales	(1.7)		(1.7)
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Initial consolidation of funds		0
Sales	0		0
Loans Payable of a consolidated real estate VIE
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Initial consolidation of funds		0
Sales	0		0
Level III
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	3,391.7	16,916.9	17,172	16,266.7
Initial consolidation / deconsolidation of funds			(14,250.3)
Initial consolidation of funds	0			1,248.6
Borrowings	26.4	959.5	671.1	2,584.6
Paydowns	(119.4)	(1,357.7)	(369)	(2,703.2)
Sales		(0.9)		(5.6)
Realized and unrealized (gains) losses, net
Included in earnings	20.6	(303.4)	67.1	(151.6)
Included in other comprehensive income	36.1	18	64.5	(422.9)
Balance, end of period	3,353.7	16,816.6	3,353.7	16,816.6
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	26.7	(319.2)	58	(225.6)
Level III | Loans Payable of Consolidated Funds
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	3,284.7	16,727.5	17,046.7	16,052.2
Initial consolidation / deconsolidation of funds			(14,221.3)
Initial consolidation of funds	0			1,248.6
Borrowings	26.4	959.5	671.1	2,584.6
Paydowns	(99)	(1,315.9)	(331.4)	(2,627.6)
Sales		0		0
Realized and unrealized (gains) losses, net
Included in earnings	15.8	(303.8)	43.8	(198.8)
Included in other comprehensive income	25.5	13.6	44.5	(393.9)
Balance, end of period	3,253.4	16,665.1	3,253.4	16,665.1
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	19.5	(324.7)	36.6	(244.8)
Level III | Derivative Instruments of Consolidated Funds
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	0.3	29.1	29.1	17.2
Initial consolidation / deconsolidation of funds			(29)
Initial consolidation of funds	0			0
Borrowings	0	0	0	0
Paydowns	0	0	0	0
Sales		(0.9)		(5.6)
Realized and unrealized (gains) losses, net
Included in earnings	1.4	(2.4)	1.6	15.1
Included in other comprehensive income	0	0	0	(0.9)
Balance, end of period	0	25.8	0	25.8
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	0	3.3	0	(12.3)
Level III | Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	25	47.9	20.8	51.1
Initial consolidation / deconsolidation of funds			0
Initial consolidation of funds	0			0
Borrowings	0	0	0	0
Paydowns	(10)	(21.4)	(10.3)	(22.5)
Sales		0		0
Realized and unrealized (gains) losses, net
Included in earnings	(3.7)	(10)	0.8	(11.8)
Included in other comprehensive income	0.1	0.1	0.1	(0.2)
Balance, end of period	11.4	16.6	11.4	16.6
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	0.1	(10.6)	0.5	(12.4)
Level III | Loans Payable of a consolidated real estate VIE
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	81.7	112.4	75.4	146.2
Initial consolidation / deconsolidation of funds			0
Initial consolidation of funds	0			0
Borrowings	0	0	0	0
Paydowns	(10.4)	(20.4)	(27.3)	(53.1)
Sales		0		0
Realized and unrealized (gains) losses, net
Included in earnings	7.1	12.8	20.9	43.9
Included in other comprehensive income	10.5	4.3	19.9	(27.9)
Balance, end of period	88.9	109.1	88.9	109.1
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	$ 7.1	$ 12.8	$ 20.9	$ 43.9

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Quantitative Information about Partnership's Level III Inputs (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 3,373.6	$ 17,175.7
Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	20.00%
Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	30.00%
Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	23.00%
Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets		17,517.6
Fair value of liabilities	$ 3,353.7	17,172
Level III | Senior secured notes | Discounted Cash Flow with Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities		$ 15,915.5
Valuation technique of liabilities		Discounted Cash Flow with Consensus Pricing
Level III | Senior secured notes | Discounted Cash Flow with Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		1.00%
Indicative Quotes (% of Par)		38.00%
Default Rates (as a percent)		1.00%
Recovery Rates (as a percent)		55.00%
Level III | Senior secured notes | Discounted Cash Flow with Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		12.00%
Indicative Quotes (% of Par)		102.00%
Default Rates (as a percent)		5.00%
Recovery Rates (as a percent)		80.00%
Level III | Senior secured notes | Discounted Cash Flow with Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		3.00%
Indicative Quotes (% of Par)		98.00%
Default Rates (as a percent)		3.00%
Recovery Rates (as a percent)		63.00%
Level III | Senior secured notes | Other
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 3,079.5
Valuation technique of liabilities	Other
Level III | Subordinated notes and preferred shares | Discounted Cash Flow with Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 129.2	$ 1,112.4
Valuation technique of liabilities	Discounted Cash Flow with Consensus Pricing	Discounted Cash Flow with Consensus Pricing
Level III | Subordinated notes and preferred shares | Discounted Cash Flow with Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	10.00%	9.00%
Indicative Quotes (% of Par)	7.00%	1.00%
Default Rates (as a percent)	1.00%	1.00%
Recovery Rates (as a percent)	60.00%	55.00%
Level III | Subordinated notes and preferred shares | Discounted Cash Flow with Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	16.00%	16.00%
Indicative Quotes (% of Par)	92.00%	101.00%
Default Rates (as a percent)	3.00%	5.00%
Recovery Rates (as a percent)	73.00%	80.00%
Level III | Subordinated notes and preferred shares | Discounted Cash Flow with Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	13.00%	12.00%
Indicative Quotes (% of Par)	67.00%	55.00%
Default Rates (as a percent)	2.00%	3.00%
Recovery Rates (as a percent)	66.00%	64.00%
Level III | Subordinated notes and preferred shares | Other
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 44.7
Valuation technique of liabilities	Other
Level III | Combination notes | Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities		$ 18.8
Valuation technique of liabilities		Consensus Pricing
Level III | Combination notes | Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)		88.00%
Level III | Combination notes | Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)		96.00%
Level III | Combination notes | Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)		94.00%
Level III | Loans Payable of a consolidated real estate VIE | Discounted Cash Flow
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 88.9	$ 75.4
Valuation technique of liabilities	Discounted Cash Flow	Discounted Cash Flow
Level III | Loans Payable of a consolidated real estate VIE | Discounted Cash Flow | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		20.00%
Discount to Expected Payment (as a percent)	10.00%	10.00%
Level III | Loans Payable of a consolidated real estate VIE | Discounted Cash Flow | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		30.00%
Discount to Expected Payment (as a percent)	55.00%	52.00%
Level III | Loans Payable of a consolidated real estate VIE | Discounted Cash Flow | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		23.00%
Discount to Expected Payment (as a percent)	37.00%	35.00%
Level III | Derivative Financial Instruments, Liabilities [Member] | Counterparty Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities		$ 29.1
Valuation technique of liabilities		Counterparty Pricing
Level III | Derivative Financial Instruments, Liabilities [Member] | Counterparty Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)		3.00%
Level III | Derivative Financial Instruments, Liabilities [Member] | Counterparty Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)		34.00%
Level III | Derivative Financial Instruments, Liabilities [Member] | Counterparty Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)		22.00%
Level III | Contingent consideration | Discounted Cash Flow
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 11.4	$ 20.8
Valuation technique of liabilities	Discounted Cash Flow	Discounted Cash Flow
Level III | Contingent consideration | Discounted Cash Flow | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	4.00%	4.00%
Assumed % of Total Potential Contingent Payments	0.00%	0.00%
Level III | Contingent consideration | Discounted Cash Flow | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	23.00%	22.00%
Assumed % of Total Potential Contingent Payments	16.00%	100.00%
Level III | Contingent consideration | Discounted Cash Flow | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	4.00%	9.00%
Assumed % of Total Potential Contingent Payments	5.00%	8.00%
Level III | Equity securities | Discounted Cash Flow
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 10.2	$ 8
Valuation technique of assets	Discounted Cash Flow	Discounted Cash Flow
Level III | Equity securities | Discounted Cash Flow | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	9.00%	10.00%
Exit Cap Rate (as a percent)	7.00%
Level III | Equity securities | Discounted Cash Flow | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	13.00%	10.00%
Exit Cap Rate (as a percent)	11.00%
Level III | Equity securities | Discounted Cash Flow | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	10.00%	10.00%
Exit Cap Rate (as a percent)	8.00%
Level III | Equity securities | Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 0.3	$ 6.1
Valuation technique of assets	Consensus Pricing	Consensus Pricing
Level III | Equity securities | Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes ($ per share)	$ 0.05	$ 0
Level III | Equity securities | Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes ($ per share)	0.05	647
Level III | Equity securities | Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes ($ per share)	$ 0.05	$ 0
Level III | Equity securities | Comparable Multiple
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets		$ 556
Valuation technique of assets		Comparable Multiple
Level III | Equity securities | Comparable Multiple | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple		1
Level III | Equity securities | Comparable Multiple | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple		20.4
Level III | Equity securities | Comparable Multiple | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple		11.4
Level III | Equity securities | Other
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets		$ 5.2
Valuation technique of assets		Other
Level III | Bonds | Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 396.4	$ 1,180.9
Valuation technique of assets	Consensus Pricing	Consensus Pricing
Level III | Bonds | Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	80.00%	30.00%
Level III | Bonds | Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	112.00%	112.00%
Level III | Bonds | Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	100.00%	97.00%
Level III | Loans | Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 2,982.3	$ 15,673.3
Valuation technique of assets	Consensus Pricing	Consensus Pricing
Level III | Loans | Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	10.00%	28.00%
Level III | Loans | Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	102.00%	102.00%
Level III | Loans | Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	99.00%	96.00%
Level III | Loans | Market Yield
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets		$ 13.4
Valuation technique of assets		Market Yield Analysis
Level III | Loans | Market Yield | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		5.00%
Level III | Loans | Market Yield | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		16.00%
Level III | Loans | Market Yield | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		10.00%
Level III | Partnership and LLC interests | Discounted Cash Flow
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets		$ 59.6
Valuation technique of assets		Discounted Cash Flow
Level III | Partnership and LLC interests | Discounted Cash Flow | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		8.00%
Exit Cap Rate (as a percent)		5.00%
Level III | Partnership and LLC interests | Discounted Cash Flow | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		10.00%
Exit Cap Rate (as a percent)		6.00%
Level III | Partnership and LLC interests | Discounted Cash Flow | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)		9.00%
Exit Cap Rate (as a percent)		5.00%
Level III | Other | Counterparty Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 1.7	$ 5
Valuation technique of assets	Counterparty Pricing	Counterparty Pricing
Level III | Other | Counterparty Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)	6.00%	1.00%
Level III | Other | Counterparty Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)	14.00%	22.00%
Level III | Other | Counterparty Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)	7.00%	7.00%
Level III | Other | Comparable Multiple
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 1.1
Valuation technique of assets	Comparable Multiple
Level III | Investments of Consolidated Funds
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 3,390.9	$ 17,507.5
Level III | Trading securities | Comparable Multiple
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets		$ 1.4
Valuation technique of assets		Comparable Multiple
Level III | Trading securities | Comparable Multiple | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple		5.8
Level III | Trading securities | Comparable Multiple | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple		5.8
Level III | Trading securities | Comparable Multiple | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple		5.8
Level III | Restricted securities of Consolidated Funds | Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets		$ 8.7
Valuation technique of assets		Consensus Pricing
Level III | Restricted securities of Consolidated Funds | Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)		88.00%
Level III | Restricted securities of Consolidated Funds | Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)		88.00%
Level III | Restricted securities of Consolidated Funds | Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)		88.00%
Level III | Investments in CLOs and other
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	3,548.2
Level III | Investments in CLOs and other | Discounted Cash Flow with Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 122.3
Valuation technique of assets	Discounted Cash Flow with Consensus Pricing
Level III | Investments in CLOs and other | Discounted Cash Flow with Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	1.00%
Indicative Quotes (% of Par)	82.00%
Default Rates (as a percent)	1.00%
Recovery Rates (as a percent)	60.00%
Level III | Investments in CLOs and other | Discounted Cash Flow with Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	14.00%
Indicative Quotes (% of Par)	102.00%
Default Rates (as a percent)	3.00%
Recovery Rates (as a percent)	73.00%
Level III | Investments in CLOs and other | Discounted Cash Flow with Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	2.00%
Indicative Quotes (% of Par)	99.00%
Default Rates (as a percent)	2.00%
Recovery Rates (as a percent)	66.00%
Level III | Subordinated notes, preferred shares and other | Discounted Cash Flow with Consensus Pricing
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 33.9
Valuation technique of assets	Discounted Cash Flow with Consensus Pricing
Level III | Subordinated notes, preferred shares and other | Discounted Cash Flow with Consensus Pricing | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	10.00%
Indicative Quotes (% of Par)	2.00%
Default Rates (as a percent)	1.00%
Recovery Rates (as a percent)	60.00%
Level III | Subordinated notes, preferred shares and other | Discounted Cash Flow with Consensus Pricing | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	16.00%
Indicative Quotes (% of Par)	100.00%
Default Rates (as a percent)	3.00%
Recovery Rates (as a percent)	73.00%
Level III | Subordinated notes, preferred shares and other | Discounted Cash Flow with Consensus Pricing | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	14.00%
Indicative Quotes (% of Par)	95.00%
Default Rates (as a percent)	2.00%
Recovery Rates (as a percent)	65.00%
Level III | Subordinated notes, preferred shares and other | Comparable Multiple | Minimum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple	5.7
Level III | Subordinated notes, preferred shares and other | Comparable Multiple | Maximum
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple	5.7
Level III | Subordinated notes, preferred shares and other | Comparable Multiple | Weighted Average
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple	5.7

Accrued Performance Fees - Comp

Accrued Performance Fees - Components of Accrued Performance Fees (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Accrued performance fees	$ 2,776.6	$ 2,988.6
Corporate Private Equity
Segment Reporting Information [Line Items]
Accrued performance fees	1,677.3	2,096.9
Global Market Strategies
Segment Reporting Information [Line Items]
Accrued performance fees	81.5	78.3
Real Assets
Segment Reporting Information [Line Items]
Accrued performance fees	435.3	313.6
Investment Solutions
Segment Reporting Information [Line Items]
Accrued performance fees	$ 582.5	$ 499.8

Accrued Performance Fees - Addi

Accrued Performance Fees - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)fund	Sep. 30, 2015USD ($)	Dec. 31, 2015fund
Segment Reporting Information [Line Items]
Percentage of accrued performance fees related to certain Corporate Private Equity funds	29.00%		29.00%		54.00%
Number of Partnership's Corporate Private Equity funds related to accrued performance fees | fund			2		3
Amount paid during period to satisfy giveback obligation to one of our funds			$ 47.3
Performance fees	$ 214.7	$ (246.6)	$ 570.8	$ 621.3
Performance Fee Revenue [Member] | Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of performance fees related to certain Corporate Private Equity funds	50.00%	97.00%	59.00%	33.00%
Performance fees	$ 107.9	$ (239.5)	$ 338.2	$ 206.3
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Beijing Partners, L.P.
Segment Reporting Information [Line Items]
Performance fees	208.9		317.3
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Realty Partners V, L.P.
Segment Reporting Information [Line Items]
Performance fees	(20.8)	38.5	111.2
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Realty Partners VII, L.P.
Segment Reporting Information [Line Items]
Performance fees	$ (50.9)
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Partners V, L.P.
Segment Reporting Information [Line Items]
Performance fees		(120)	$ 129.7	154.2
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Partners IV, L.P.
Segment Reporting Information [Line Items]
Performance fees		(25.1)
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Asia Growth Partners IV, L.P.
Segment Reporting Information [Line Items]
Performance fees		(53.5)
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Energy Mezzanine Opportunities Fund
Segment Reporting Information [Line Items]
Performance fees		(43.7)
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Realty Partners VI, L.P.
Segment Reporting Information [Line Items]
Performance fees		29.7		96.6
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle/Riverstone Global Energy and Power Fund IV, L.P.
Segment Reporting Information [Line Items]
Performance fees		$ (41)		(63.7)
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle Europe Partners III, L.P.
Segment Reporting Information [Line Items]
Performance fees				202
Performance Fee Revenue [Member] | Customer Concentration Risk [Member] | Carlyle/Riverstone Global Energy and Power Fund III, L.P.
Segment Reporting Information [Line Items]
Performance fees				$ (102.1)

Accrued Performance Fees - Co60

Accrued Performance Fees - Components of Accrued Giveback Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Accrued giveback obligations	$ (224.4)	$ (252)
Corporate Private Equity
Segment Reporting Information [Line Items]
Accrued giveback obligations	(5)	(36.6)
Real Assets
Segment Reporting Information [Line Items]
Accrued giveback obligations	$ (219.4)	$ (215.4)

Accrued Performance Fees - Perf

Accrued Performance Fees - Performance Fees (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Performance fees	$ 214.7	$ (246.6)	$ 570.8	$ 621.3
Corporate Private Equity
Segment Reporting Information [Line Items]
Performance fees	186.5	(257.8)	283	522.4
Global Market Strategies
Segment Reporting Information [Line Items]
Performance fees	17.8	(52.3)	26.8	(29.9)
Real Assets
Segment Reporting Information [Line Items]
Performance fees	(19.1)	32.1	198.6	3.3
Investment Solutions
Segment Reporting Information [Line Items]
Performance fees	$ 29.5	$ 31.4	$ 62.4	$ 125.5

Investments - Schedule of Inves

Investments - Schedule of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments, excluding accrued performance fees	$ 960.7	$ 876.6
Investments in CLOs and other	157.8	9.3
Total investments	$ 1,118.5	$ 885.9

Investments - Additional Inform

Investments - Additional Information (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)collateralized_loan_obligationshares	Dec. 31, 2014	Dec. 31, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Percentage of carried interest income to be allocated to Partnership for future interests in future carry funds	47.50%
Carrying value of carried interest	$ 9,000,000		$ 0
Carrying value of general partner investments in NGP X	$ 19,700,000		18,700,000
Partnership vested period (in years)	5 years
Amount of cash for strategic investment contingent consideration	$ 63,000,000
Amount of promissory note for strategic investment contingent consideration	$ 120,000,000
Length of term in years of promissory note to Barclays (in years)	6 years
Basis spread of variable rate promissory note (as a percent)	2.50%
Partnership's basis difference based on underlying net assets	$ 43,600,000		85,000,000
Basis difference amortization period (in years)	10 years
Number of new CLOs formed | collateralized_loan_obligation	2
Total assets of the CLOs that were formed during the year	$ 900,000,000
Minimum percent of aggregate assets for individual investments with fair value	5.00%
Corporate mezzanine securities and bonds
Schedule of Equity Method Investments [Line Items]
Investments in CLOs and other	$ 157,800,000		$ 9,300,000
Barclays Natural Resource Investments
Schedule of Equity Method Investments [Line Items]
Contingent consideration	$ 183,000,000
Carlyle Holdings
Schedule of Equity Method Investments [Line Items]
Issuance of partnership units (in shares) | shares	597,944
Value of additional partnership units to be issued upon the satisfaction of certain performance conditions	$ 15,000,000
ECM Capital, L.P.
Schedule of Equity Method Investments [Line Items]
Contingent consideration	$ 45,000,000
ECM Capital, L.P. | Barclays Natural Resource Investments
Schedule of Equity Method Investments [Line Items]
Percentage of carried interest to be received if certain options to purchase additional interests are made	40.00%
Purchase price	$ 504,600,000
Issuance of partnership units (in shares) | shares	996,572
Management fee-related revenues
Schedule of Equity Method Investments [Line Items]
Percentage of management fee revenue allocated to Carlyle	55.00%	47.50%

Investments - Schedule of Net I

Investments - Schedule of Net Investment Earnings (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
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)	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)

Investments - Schedule of Equit

Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Equity method investments	$ 960.7	$ 876.6
Operating Segments | Corporate Private Equity
Schedule of Investments [Line Items]
Equity method investments	285.3	254.5
Operating Segments | Global Market Strategies
Schedule of Investments [Line Items]
Equity method investments	24.6	26.7
Operating Segments | Real Assets
Schedule of Investments [Line Items]
Equity method investments	625.7	592.7
Operating Segments | Investment Solutions
Schedule of Investments [Line Items]
Equity method investments	$ 25.1	$ 2.7

Investments - Components of Inv

Investments - Components of Investment Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
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	0	6.5	0.3	6.5
Total investment income (loss)	$ 70.5	$ (9.5)	$ 126.2	$ 6.5

Investments - Schedule of Incom

Investments - Schedule of Income (Loss) from Equity-Method Investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of Investments [Line Items]
Income (loss) from equity-method investments	$ 65.9	$ (14.7)	$ 116.3	$ 1.5
Operating Segments | Corporate Private Equity
Schedule of Investments [Line Items]
Income (loss) from equity-method investments	13.5	(10)	32	20.2
Operating Segments | Global Market Strategies
Schedule of Investments [Line Items]
Income (loss) from equity-method investments	(0.5)	(1.3)	(5.5)	(0.4)
Operating Segments | Real Assets
Schedule of Investments [Line Items]
Income (loss) from equity-method investments	52.5	(3.4)	89.9	(19.3)
Operating Segments | Investment Solutions
Schedule of Investments [Line Items]
Income (loss) from equity-method investments	$ 0.4	$ 0	$ (0.1)	$ 1

Investments - Interest and Othe

Investments - Interest and Other Income of Consolidated Funds (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Interest income from investments	$ 40	$ 219	$ 101.6	$ 654.7
Other income	3	40.4	6.2	88
Total	$ 43	$ 259.4	$ 107.8	$ 742.7

Investments - Net Investment Ga

Investments - Net Investment Gains (Losses) of Consolidated Funds (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Gains (losses) from investments of Consolidated Funds	$ 18.6	$ (337.8)	$ 45	$ 738.1
Gains (losses) from liabilities of CLOs	(15.9)	306.6	(43.8)	197
Gains (losses) on other assets of CLOs	2.1	(0.1)	1.9	0.7
Total	$ 4.8	$ (31.3)	$ 3.1	$ 935.8

Investments - Realized and Unre

Investments - Realized and Unrealized Gains (Losses) Earned from Investments of Consolidated Funds (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Realized gains (losses)	$ 0	$ 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	$ 738.1

Intangible Assets and Goodwil71

Intangible Assets and Goodwill - Carrying Amount of Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired contractual rights	$ 386.2	$ 830.4
Acquired trademarks	6.6	6.6
Accumulated amortization	(324.7)	(739.6)
Finite-lived intangible assets, net	68.1	97.4
Goodwill	38.5	38.3
Intangible assets, net	$ 106.6	$ 135.7

Intangible Assets and Goodwil72

Intangible Assets and Goodwill - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Goodwill [Line Items]
Goodwill	$ 38,500,000		$ 38,500,000		$ 38,300,000
Pretax impairment charge recorded during the period for intangible assets related to our credit hedge funds			0	$ 198,400,000
Intangible asset amortization expense, excluding impairment losses	11,100,000	$ 20,400,000	30,400,000	$ 64,100,000
Corporate Private Equity
Goodwill [Line Items]
Goodwill	0		0
Real Assets
Goodwill [Line Items]
Goodwill					0
Operating Segments | Global Market Strategies
Goodwill [Line Items]
Goodwill	$ 28,000,000		$ 28,000,000		$ 28,000,000
Level III | Minimum | Discounted Cash Flow | Global Market Strategies
Goodwill [Line Items]
Discount rate (as a percent)			10.00%
Level III | Maximum | Discounted Cash Flow | Global Market Strategies
Goodwill [Line Items]
Discount rate (as a percent)			20.00%

Intangible Assets and Goodwil73

Intangible Assets and Goodwill - Carrying Amount of Goodwill, by Segment (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 38.3
Foreign currency translation	0.2
Balance at end of period	38.5
Operating Segments | Global Market Strategies
Goodwill [Roll Forward]
Balance at beginning of period	28
Foreign currency translation	0
Balance at end of period	28
Operating Segments | Investment Solutions
Goodwill [Roll Forward]
Balance at beginning of period	10.3
Foreign currency translation	0.2
Balance at end of period	$ 10.5

Intangible Assets and Goodwil74

Intangible Assets and Goodwill - Estimated Future Amortization Expense (Details) $ in Millions	Sep. 30, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 11
2,017	27.3
2,018	15.8
2,019	5.6
2,020	5.6
Thereafter	2.8
Total	$ 68.1

Borrowings - Partnership's Borr

Borrowings - Partnership's Borrowings (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Borrowing Outstanding	$ 1,279.7	$ 1,138.7
Carrying Value	1,277.2	1,135.7
Senior Credit Facility Term Loan Due 5/05/2020
Debt Instrument [Line Items]
Borrowing Outstanding	25	25
Carrying Value	$ 24.7	$ 24.6
Loan maturity date	May 5, 2020	May 5, 2020
CLO Term Loans
Debt Instrument [Line Items]
Borrowing Outstanding	$ 34.7	$ 13.7
Carrying Value	34.7	13.7
3.875% Senior Notes Due 2/01/2023
Debt Instrument [Line Items]
Borrowing Outstanding	500	500
Carrying Value	$ 497	$ 496.7
Loan maturity date	Feb. 1, 2023	Feb. 1, 2023
Interest rate on senior notes (as a percent)	3.875%	3.875%
5.625% Senior Notes Due 3/30/2043
Debt Instrument [Line Items]
Borrowing Outstanding	$ 600	$ 600
Carrying Value	$ 600.8	$ 600.7
Loan maturity date	Mar. 30, 2043	Mar. 30, 2043
Interest rate on senior notes (as a percent)	5.625%	5.625%
Promissory Note Due 1/01/2022
Debt Instrument [Line Items]
Borrowing Outstanding	$ 120	$ 0
Carrying Value	$ 120	$ 0
Loan maturity date	Jan. 1, 2022	Jan. 1, 2022

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	Oct. 03, 2013	Mar. 31, 2013	Jan. 31, 2013	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Jan. 01, 2016	Mar. 31, 2014
Debt Instrument [Line Items]
Borrowing Outstanding				$ 1,279,700,000		$ 1,279,700,000		$ 1,138,700,000
Interest expense				15,600,000	$ 14,500,000	46,300,000	$ 43,600,000
Amount of promissory note for strategic investment contingent consideration				120,000,000		$ 120,000,000
Basis spread of variable rate promissory note (as a percent)						2.50%
Fair value of collateralized loan obligation assets				3,600,000,000		$ 3,600,000,000		18,600,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowing capacity				750,000,000		$ 750,000,000
3.875% Senior Notes Due 2/01/2023
Debt Instrument [Line Items]
Borrowing Outstanding			$ 500,000,000
Loan maturity date						Feb. 1, 2023
Interest rate on senior notes (as a percent)			3.875%
Senior notes percentage of par value			99.966%
Date of first required interest payment						Aug. 1, 2013
Senior notes redemption terms percentage to principal amount			100.00%
Interest expense				5,000,000	5,000,000	$ 14,900,000	14,900,000
Fair value of notes payable				526,200,000		$ 526,200,000		515,200,000
3.875% Senior Notes Due 2/01/2023 | Treasury Rate
Debt Instrument [Line Items]
Interest rate spread on term loan to fund investment in a CLO (as a percent)			30.00%
5.625% Senior Notes Due 3/30/2043
Debt Instrument [Line Items]
Borrowing Outstanding		$ 400,000,000								$ 200,000,000
Loan maturity date						Mar. 30, 2043
Interest rate on senior notes (as a percent)		5.625%								5.625%
Senior notes percentage of par value		99.583%								104.315%
Date of first required interest payment						Sep. 30, 2013
Senior notes redemption terms percentage to principal amount		100.00%
Interest expense				8,400,000	$ 8,400,000	$ 25,300,000	$ 25,300,000
Fair value of notes payable				652,500,000		652,500,000		646,600,000
5.625% Senior Notes Due 3/30/2043 | Treasury Rate
Debt Instrument [Line Items]
Interest rate spread on term loan to fund investment in a CLO (as a percent)		40.00%
October 2013 CLO Term Loan
Debt Instrument [Line Items]
Borrowing Outstanding	$ 12,600,000			14,100,000		$ 14,100,000		$ 13,700,000
Loan maturity date						Sep. 28, 2018		Sep. 28, 2018
Interest rate spread on term loan to fund investment in a CLO (as a percent)	1.75%
Senior Credit Facility Term Loan Due 5/05/2020
Debt Instrument [Line Items]
Borrowing Outstanding				$ 25,000,000		$ 25,000,000		$ 25,000,000
Loan maturity date						May 5, 2020		May 5, 2020
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum percentage of applicable margin in addition to base rate				0.75%		0.75%
Maximum percentage of applicable margin				1.75%		1.75%
Actual percentage at period end						1.66%
Promissory Note Due 1/01/2022
Debt Instrument [Line Items]
Borrowing Outstanding				$ 120,000,000		$ 120,000,000		$ 0
Loan maturity date						Jan. 1, 2022		Jan. 1, 2022
Actual percentage at period end						3.13%
Amount of promissory note for strategic investment contingent consideration									$ 120,000,000
Basis spread of variable rate promissory note (as a percent)						2.50%

Borrowings - CLO Term Loans (De

Borrowings - CLO Term Loans (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Oct. 03, 2013
Debt Instrument [Line Items]
Borrowing Outstanding	$ 1,279.7	$ 1,138.7
October 2013 CLO Term Loan
Debt Instrument [Line Items]
Loan maturity date	Sep. 28, 2018	Sep. 28, 2018
Borrowing Outstanding	$ 14.1	$ 13.7	$ 12.6
Debt Instrument, Interest Rate, Effective Percentage	1.75%
CLO 2016-2 Retention Term Loan
Debt Instrument [Line Items]
Loan maturity date	Jul. 15, 2027
Borrowing Outstanding	$ 20.6	$ 0
Debt Instrument, Interest Rate, Effective Percentage	2.59%
CLO Term Loans
Debt Instrument [Line Items]
Borrowing Outstanding	$ 34.7	$ 13.7

Borrowings - Outstanding Loans

Borrowings - Outstanding Loans Payable of Consolidated Funds (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Borrowing Outstanding	$ 3,275.9	$ 17,314
Fair Value	3,253.4	17,046.7
Senior secured notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Borrowing Outstanding	3,082.5	16,301
Fair Value	$ 3,079.5	$ 15,915.5
Weighted Average Interest Rate (as a percent)	2.37%	1.98%
Weighted Average Remaining Maturity in Years	9 years 9 months 26 days	9 years 6 months 15 days
Subordinated notes, preferred shares and other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Borrowing Outstanding	$ 193.4	$ 993
Fair Value	$ 173.9	$ 1,112.4
Weighted Average Remaining Maturity in Years	8 years 7 months 20 days	8 years 7 months 21 days
Combination notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Borrowing Outstanding		$ 20
Fair Value		$ 18.8
Weighted Average Remaining Maturity in Years		7 years 5 months 5 days

Contingent Consideration - Chan

Contingent Consideration - Changes in Contingent Consideration Liabilities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Loss Contingency Accrual [Roll Forward]
Balance, beginning of period	$ 103.1	$ 354.2	$ 310.6	$ 384.6
Change in carrying value	(2.9)	(18.8)	(14.5)	(42.5)
Payments	(10)	(21.3)	(85.9)	(25.8)
Conversion to note payable			(120)
Issuance of equity				(2.2)
Balance, end of period	90.2	314.1	90.2	314.1
Contingent cash and other consideration payable to non- Carlyle personnel
Loss Contingency Accrual [Roll Forward]
Balance, beginning of period	47	224.1	221.5	201
Change in carrying value	(1.3)	(7.8)	7.5	16.5
Payments	(0.7)	(1.1)	(64)	(2.3)
Conversion to note payable			(120)
Issuance of equity				0
Balance, end of period	45	215.2	45	215.2
Contingent cash consideration | Amounts payable to the sellers who are Carlyle professionals | Performance-based
Loss Contingency Accrual [Roll Forward]
Balance, beginning of period	9.2	28.5	8.7	26.8
Change in carrying value	0.1	0.2	0.6	1.9
Payments	(9.3)	(20.2)	(9.3)	(20.2)
Conversion to note payable			0
Issuance of equity				0
Balance, end of period	0	8.5	0	8.5
Contingent cash consideration | Amounts payable to the sellers who are Carlyle professionals | Employment-based
Loss Contingency Accrual [Roll Forward]
Balance, beginning of period	46.9	101.6	80.4	156.8
Change in carrying value	(1.7)	(11.2)	(22.6)	(60.9)
Payments	0	0	(12.6)	(3.3)
Conversion to note payable			0
Issuance of equity				(2.2)
Balance, end of period	$ 45.2	$ 90.4	$ 45.2	$ 90.4

Contingent Consideration - Maxi

Contingent Consideration - Maximum Amounts of Cash Obligations with Business Acquisitions and Strategic Investment (Details) $ in Millions	Sep. 30, 2016USD ($)
Options To Acquire Additional Investments
Business Acquisition, Contingent Consideration [Line Items]
Total maximum cash obligations	$ 369.4
Liability recognized on financial statements	90.2
Performance-based | Contingent cash consideration
Business Acquisition, Contingent Consideration [Line Items]
Amount of the maximum contingent cash obligations associated with business acquisitions that are unlikely to be paid	$ 310.3

Accrued Compensation and Bene81

Accrued Compensation and Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Accrued performance fee-related compensation	$ 1,456.7	$ 1,511.9
Accrued bonuses	247.2	211.9
Employment-based contingent cash consideration	45.2	80.4
Other	108.4	149
Total	$ 1,857.5	$ 1,953.2

Commitments and Contingencies -

Commitments and Contingencies - Unfunded Commitments (Details) $ in Millions	Sep. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Unfunded Commitments	$ 2,985.4
Operating Segments | Corporate Private Equity
Segment Reporting Information [Line Items]
Unfunded Commitments	1,701.8
Operating Segments | Global Market Strategies
Segment Reporting Information [Line Items]
Unfunded Commitments	515.2
Operating Segments | Real Assets
Segment Reporting Information [Line Items]
Unfunded Commitments	660.2
Operating Segments | Investment Solutions
Segment Reporting Information [Line Items]
Unfunded Commitments	$ 108.2

Commitments and Contingencies83

Commitments and Contingencies - Additional Information (Details) € in Millions	Oct. 31, 2016	Jul. 07, 2010USD ($)	May 31, 2011lawsuit	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2011	Dec. 31, 2014EUR (€)	Sep. 30, 2016EUR (€)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Apr. 15, 2015EUR (€)	Dec. 31, 2014USD ($)
Guarantor Obligations [Line Items]
Unfunded commitments				$ 2,985,400,000			$ 2,985,400,000
Unfunded commitment subscribed individually by senior Carlyle professionals, operating executives and other professionals				2,600,000,000			2,600,000,000
Liability for potential repayment of previously received performance fees				224,400,000			224,400,000							$ 252,000,000
Amount of accrued giveback obligation of various current and former senior Carlyle professionals and other limited partners of Carlyle Holdings partnerships				142,200,000			142,200,000
Amount of net accrued giveback obligation attributable to Carlyle Holdings				82,200,000			$ 82,200,000
Expiration date of non-cancelable lease agreement for primary office space							Jul. 31, 2026
Rent expense				13,900,000	$ 13,700,000		$ 41,300,000	$ 42,600,000
Deferred rent payable				59,700,000			59,700,000							59,700,000
Number of civil actions | lawsuit			2
Maximum amount of potential damages according to the liquidator’s expert report		$ 1,000,000,000
Amount of Investment in Petroleum Commodities Believed Stolen				400,000,000			400,000,000
Legal and professional fees incurred to-date							5,000,000
Loss contingency accrual				162,000,000			162,000,000
Total amount liable as a result of French tax court opinion | €																€ 105
Amount paid in current period for tax obligations by consolidated fund | €									€ 30
Amount paid in current period for tax obligations by Partnership | €									€ 75
Total assets				9,503,600,000			9,503,600,000							32,181,600,000
Losses of Fund related to French tax matter						$ 34,000,000
Previously recognized losses of Fund related to French tax matter | €											€ 42
Contingent consideration liability				90,200,000	$ 314,100,000		90,200,000	$ 314,100,000					$ 103,100,000	310,600,000	$ 354,200,000		$ 384,600,000
Goodwill				38,500,000			38,500,000							38,300,000
Investment Solutions
Guarantor Obligations [Line Items]
Restructuring expenses				600,000			9,500,000
Restructuring payments							6,000,000
Expected restructuring costs				$ 1,100,000			1,100,000
CEREP I
Guarantor Obligations [Line Items]
Total assets | €												€ 1
Guaranteed Loans
Guarantor Obligations [Line Items]
Aggregate annual incremental borrowings							$ 11,300,000
Variable interest rate under credit facility							three-month LIBOR
Margin interest rate (as a percent)							3.00%
Weighted-average rate under credit facility (as a percent)				3.61%			3.61%					3.61%
Outstanding borrowings under credit facility				$ 9,500,000			$ 9,500,000							9,400,000
Contingent Obligations (Giveback)
Guarantor Obligations [Line Items]
Unbilled receivable for giveback obligations from current and former employees				6,100,000			6,100,000							23,800,000
Cash withheld from carried interest distributions for potential giveback obligations				366,400,000			366,400,000							$ 367,200,000
Amount of realized and distributed carried interest subject to potential giveback on after-tax basis				1,300,000,000			$ 1,300,000,000
Emerging Sovereign Group (ESG) | Affiliated Entity [Member]
Guarantor Obligations [Line Items]
Percentage of economic interest (percent)										55.00%
Former owners economic interest (percent)							45.00%
Contingent consideration liability				49,500,000			$ 49,500,000
Intangible assets				22,400,000			22,400,000
Goodwill				$ 28,000,000			$ 28,000,000
Subsequent Event | Emerging Sovereign Group (ESG) | Affiliated Entity [Member]
Guarantor Obligations [Line Items]
Percentage of economic interest (percent)	55.00%

Commitments and Contingencies84

Commitments and Contingencies - Future Minimum Commitments for Leases (Details) $ in Millions	Sep. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 13.7
2,017	51.9
2,018	47.6
2,019	41.9
2,020	39.8
Thereafter	292.9
Future minimum commitments for leases, total	$ 487.8

Related Party Transactions - Du

Related Party Transactions - Due from Affiliates and Other Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Notes receivable and accrued interest from affiliates	$ 78.8	$ 7.3
Other receivables from unconsolidated funds and affiliates, net	118.4	164.2
Total	203.3	195.3
Contingent Obligations (Giveback)
Related Party Transaction [Line Items]
Unbilled receivable for giveback obligations from current and former employees	$ 6.1	$ 23.8

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Related Party Transactions [Abstract]
Maximum percentage of interest on amounts due from affiliates			6.80%
Payment of aircraft related expenses	$ 1.5	$ 1.4	$ 3.7	$ 4

Related Party Transactions - 87

Related Party Transactions - Due to Affiliates (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Related Party Transactions [Abstract]
Due to affiliates of Consolidated Funds	$ 0.2	$ 0.3
Due to non-consolidated affiliates	33.5	51.7
Performance-based contingent cash and equity consideration related to acquisitions	33.7	35.3
Amounts owed under the tax receivable agreement	140.6	141.7
Other	14.8	16.9
Total	$ 222.8	$ 245.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Taxes [Line Items]
Provision (benefit) for income taxes	$ 1	$ (4.1)	$ 32.7	$ 12.4
Number of years federal income tax returns are subject to examination			3 years
Period in which significant changes in unrecognized tax benefits are not expected			next twelve months
U.S. Federal
Income Taxes [Line Items]
Income tax examination, start year			2,013
Income tax examination, end year			2,015
State and Local
Income Taxes [Line Items]
Income tax examination, start year			2,012
Income tax examination, end year			2,015
Foreign
Income Taxes [Line Items]
Income tax examination, start year			2,009
Income tax examination, end year			2,015

Non-controlling Interests in 89

Non-controlling Interests in Consolidated Entities - Partnership's Non-Controlling Interests in Consolidated Entities (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated entities	$ 201.2	$ 4,493.8
Non-Carlyle interests in Consolidated Funds
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated entities	0.5	4,213
Non-Carlyle interests in majority-owned subsidiaries
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated entities	313.2	394.3
Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated entities	$ (112.5)	$ (113.5)

Non-controlling Interests in 90

Non-controlling Interests in Consolidated Entities - Partnership's Non-Controlling Interests in Income (Loss) of Consolidated Entities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Noncontrolling Interest [Line Items]
Net income (loss) attributable to other non-controlling interests in consolidated entities	$ (29.3)	$ (53.7)	$ (29.9)	$ 894.9
Net income (loss) attributable to partners’ capital appropriated for CLOs	0	30	0	(22.9)
Net income (loss) attributable to redeemable non-controlling interests in consolidated entities	0.2	(128.7)	0.1	(214.5)
Non-controlling interests in income (loss) of consolidated entities	(29.1)	(152.4)	(29.8)	657.5
Non-Carlyle interests in Consolidated Funds
Noncontrolling Interest [Line Items]
Net income (loss) attributable to other non-controlling interests in consolidated entities	(1.2)	(22)	0.2	1,005.6
Non-Carlyle interests in majority-owned subsidiaries
Noncontrolling Interest [Line Items]
Net income (loss) attributable to other non-controlling interests in consolidated entities	(24.7)	(9.2)	(21.6)	(25.6)
Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions
Noncontrolling Interest [Line Items]
Net income (loss) attributable to other non-controlling interests in consolidated entities	$ (3.4)	$ (22.5)	$ (8.5)	$ (85.1)

Earnings Per Common Unit - Basi

Earnings Per Common Unit - Basic and Diluted Net Income Per Common Unit (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Basic
Net income attributable to The Carlyle Group L.P.	$ 800,000	$ (83,900,000)	$ 15,300,000	$ (13,800,000)
Dilution of earnings due to participating securities with distribution rights		820,200		163,250
Net income (loss) attributable to common units	$ 800,000	$ (83,079,800)	$ 15,300,000	$ (13,636,750)
Weighted-average common units outstanding, basic (in shares)	83,602,503	78,849,332	82,062,633	72,812,892
Net income per common unit (usd per share)	$ 0.01	$ (1.05)	$ 0.19	$ (0.19)
Diluted
Net income attributable to The Carlyle Group L.P.	$ 800,000	$ (83,900,000)	$ 15,300,000	$ (13,800,000)
Dilution of earnings due to participating securities with distribution rights		0		(1,423,000)
Incremental net (loss) income from assumed exchange of Carlyle Holdings partnership units	(5,700,000)	(250,900,000)	8,100,000	(67,800,000)
Net income (loss) attributable to common units	$ (4,900,000)	$ (334,800,000)	$ 23,400,000	$ (83,023,000)
Weighted-average common units outstanding, diluted (in shares)	312,534,968	301,558,908	306,981,103	299,143,320
Net income per common unit (usd per share)	$ (0.02)	$ (1.11)	$ 0.08	$ (0.28)

Earnings Per Common Unit - Weig

Earnings Per Common Unit - Weighted-Average Common Units Outstanding, Basic and Diluted (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common units outstanding, basic (in shares)	83,602,503	78,849,332	82,062,633	72,812,892
Weighted-average common units outstanding, diluted (in shares)	312,534,968	301,558,908	306,981,103	299,143,320
The Carlyle Group, L.P.
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common units outstanding, basic (in shares)	83,602,503	78,849,332	82,062,633	72,812,892
Weighted-average common units outstanding, diluted (in shares)	83,602,503	78,849,332	82,062,633	72,812,892
Unvested deferred restricted common units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common units outstanding, basic (in shares)	0	0	0	0
Weighted-average common units outstanding, diluted (in shares)	3,569,302	0	3,181,825	0
Weighted-average vested Carlyle Holdings Partnership units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common units outstanding, diluted (in shares)	224,826,988	216,864,271	221,377,938	216,956,438
Unvested Carlyle Holdings Partnership units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common units outstanding, diluted (in shares)	536,175	5,845,305	358,707	9,373,990

Earnings Per Common Unit - Addi

Earnings Per Common Unit - Additional Information (Details) - USD ($)	Aug. 01, 2013	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average common units outstanding, diluted (in shares)		312,534,968	301,558,908	306,981,103	299,143,320
Incremental net (loss) income from assumed exchange of Carlyle Holdings partnership units		$ (5,700,000)	$ (250,900,000)	$ 8,100,000	$ (67,800,000)
Antidilutive securities excluded from computation of earnings per unit (shares)			3,501,505		4,625,233
AlpInvest
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Additional ownership percentage acquired (percent)	40.00%
Common units issued to AlpInvest employees that are subject to vesting conditions (in shares)	914,087
Weighted-average vested Carlyle Holdings Partnership units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average common units outstanding, diluted (in shares)		224,826,988	216,864,271	221,377,938	216,956,438
Unvested Carlyle Holdings Partnership units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average common units outstanding, diluted (in shares)		536,175	5,845,305	358,707	9,373,990
Unvested Carlyle Holdings Partnership units | AlpInvest
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average common units outstanding, diluted (in shares)				38,911

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) - USD ($)	Aug. 01, 2013	Jun. 30, 2015	Dec. 31, 2012	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Jan. 01, 2016	May 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of the Partnership's common units and Carlyle Holdings partnership units available for grant under the Equity Incentive Plan (in shares)										32,402,830	30,450,000
AlpInvest
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional ownership percentage acquired (percent)	40.00%
Common units issued to AlpInvest employees that are subject to vesting conditions (in shares)	914,087
Unvested Partnership Common Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting of unvested units (in years)							5 years
Forfeiture rate (as a percent)							5.00%
Allocated share based compensation expense				$ 200,000		$ 1,800,000	$ 1,500,000	$ 6,900,000
Unrecognized equity-based compensation expense				400,000			$ 400,000
Weighted-average term for unrecognized compensation expense to be recognized (in years)							11 months
Unvested Partnership Common Units | AlpInvest
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional ownership percentage acquired (percent)	40.00%
Common units issued to AlpInvest employees that are subject to vesting conditions (in shares)	914,087
Amount of unvested common units forfeited by an individual (in shares)		11,674
Unvested Carlyle Holdings Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting of unvested units (in years)							6 years
Forfeiture rate (as a percent)							2.50%
Unrecognized equity-based compensation expense				275,900,000			$ 275,900,000
Weighted-average term for unrecognized compensation expense to be recognized (in years)							1 year 7 months
Tax benefits related to equity-based compensation expense							$ 0
Unvested Carlyle Holdings Partnership Units | Carlyle Holdings
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expense				40,800,000		41,800,000	$ 147,600,000	147,900,000
Unvested Carlyle Holdings Partnership Units | ECM Capital, L.P.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting of unvested units (in years)			5 years
Number of partnership units issued with time vesting (in shares)			996,572
Number of partnership units issued at closing with performance-based vesting (in shares)			597,944
Deferred Restricted Common Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting of unvested units (in years)							6 years
Allocated share based compensation expense				40,600,000		43,100,000	$ 116,800,000	134,500,000
Unrecognized equity-based compensation expense				227,600,000			$ 227,600,000
Weighted-average term for unrecognized compensation expense to be recognized (in years)							1 year 11 months
Tax benefits related to equity-based compensation expense				$ 4,400,000		$ 4,000,000	$ 13,500,000	$ 12,700,000
Unit discount (as a percent)							40.00%
Deferred Restricted Common Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate (as a percent)					2.00%
Forfeiture rate (as a percent)							2.00%		2.00%
Deferred Restricted Common Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate (as a percent)					7.50%
Forfeiture rate (as a percent)							7.50%		10.00%
Phantom Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting of unvested units (in years)							3 years
Forfeiture rate (as a percent)							7.50%
Forfeiture rate (as a percent)							10.00%

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Status of Non-Vested Equity-Based Awards (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Carlyle Holdings
Unvested Units
Beginning balance (in shares) | shares	26,819,112
Granted (in shares) | shares	0
Vested (in shares) | shares	8,995,688
Forfeited (in shares) | shares	503,538
Ending balance (in shares) | shares	17,319,886
Weighted- Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 22.18
Granted (usd per share) | $ / shares	0
Vested (usd per share) | $ / shares	22
Forfeited (usd per share) | $ / shares	22
Ending balance (usd per share) | $ / shares	$ 22.26
The Carlyle Group, L.P. | Equity Settled Awards | Deferred Restricted Common Units
Unvested Units
Beginning balance (in shares) | shares	18,420,434
Granted (in shares) | shares	5,619,372
Vested (in shares) | shares	6,726,993
Forfeited (in shares) | shares	1,243,783
Ending balance (in shares) | shares	16,069,030
Weighted- Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 24.62
Granted (usd per share) | $ / shares	11.29
Vested (usd per share) | $ / shares	25.17
Forfeited (usd per share) | $ / shares	23.67
Ending balance (usd per share) | $ / shares	$ 19.83
The Carlyle Group, L.P. | Equity Settled Awards | Unvested Common Units
Unvested Units
Beginning balance (in shares) | shares	766,991
Granted (in shares) | shares	0
Vested (in shares) | shares	728,080
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	38,911
Weighted- Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 27.41
Granted (usd per share) | $ / shares	0
Vested (usd per share) | $ / shares	27.71
Forfeited (usd per share) | $ / shares	0
Ending balance (usd per share) | $ / shares	$ 21.67
The Carlyle Group, L.P. | Cash Settled Awards | Phantom Units
Unvested Units
Beginning balance (in shares) | shares	6,741
Granted (in shares) | shares	0
Vested (in shares) | shares	3,480
Forfeited (in shares) | shares	741
Ending balance (in shares) | shares	2,520
Weighted- Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 34.58
Granted (usd per share) | $ / shares	0
Vested (usd per share) | $ / shares	34.45
Forfeited (usd per share) | $ / shares	34.39
Ending balance (usd per share) | $ / shares	$ 34.81

Consolidation of a Real Estat96

Consolidation of a Real Estate Development Company - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Period, in days, of the financial reporting lag		90 days
Funding by Partnership to Consolidated Real Estate VIE	$ 365,700,000	$ 365,700,000
Amount of funding received by Urbplan during the period	10,000,000
Amount of funding to Urbplan by Partnership during the period	10,000,000
Customer advances received	$ 140,300,000	$ 140,300,000	$ 104,500,000
IGP-M Plus
Real Estate Properties [Line Items]
Margin interest rate (as a percent)		12.00%
Additional margin interest rate (as a percent)		22.70%
Minimum
Real Estate Properties [Line Items]
Customer receivables accrued interest rate (as a percent)	9.00%	9.00%
Minimum | CDI Plus
Real Estate Properties [Line Items]
Margin interest rate (as a percent)		4.00%
Minimum | IPCA Plus
Real Estate Properties [Line Items]
Margin interest rate (as a percent)		8.80%
Additional margin interest rate (as a percent)		17.20%
Maximum
Real Estate Properties [Line Items]
Customer receivables accrued interest rate (as a percent)	12.00%	12.00%
Maximum | CDI Plus
Real Estate Properties [Line Items]
Additional margin interest rate (as a percent)		18.10%
Maximum | IPCA Plus
Real Estate Properties [Line Items]
Margin interest rate (as a percent)		15.00%
Additional margin interest rate (as a percent)		23.50%
Urbplan
Real Estate Properties [Line Items]
Maximum additional capital investment fund	$ 35,000,000	$ 35,000,000
Estimated fair value percentage of outstanding principal amounts of loans (as a percent)		60.00%
Outstanding commitments for land development services	21,000,000	$ 21,000,000
Partnership
Real Estate Properties [Line Items]
Partnership contractual obligation	118,200,000	118,200,000
Senior Carlyle professionals
Real Estate Properties [Line Items]
Amount of capital funding in year of consolidation	$ 247,500,000	$ 247,500,000

Consolidation of a Real Estat97

Consolidation of a Real Estate Development Company - Assets and Liabilities Recognized in the Partnership's Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Receivables and inventory of a consolidated real estate VIE:
Receivables and inventory of a consolidated real estate VIE	$ 131.6	$ 143.6
Other assets of a consolidated real estate VIE:
Other assets of a consolidated real estate VIE	41.3	47.6
Other liabilities of a consolidated real estate VIE:
Principal amount	148.2	125.6
Partnership
Receivables and inventory of a consolidated real estate VIE:
Customer and other receivables	99.6	71.8
Inventory costs in excess of billings and advances	32	71.8
Receivables and inventory of a consolidated real estate VIE	131.6	143.6
Other assets of a consolidated real estate VIE:
Restricted investments	13.9	14.6
Fixed assets, net	0.1	0.8
Deferred tax assets	10.1	8.4
Other assets	17.2	23.8
Other assets of a consolidated real estate VIE	41.3	47.6
Loans payable of a consolidated real estate VIE, at fair value (principal amount of $148.2 million and $125.6 million as of September 30, 2016 and December 31, 2015, respectively)	88.9	75.4
Other liabilities of a consolidated real estate VIE:
Accounts payable	14.9	14.5
Other liabilities	83.4	69.9
Other liabilities of a consolidated real estate VIE	98.3	84.4
Partnership | Loans Payable of a consolidated real estate VIE
Other liabilities of a consolidated real estate VIE:
Principal amount	$ 148.2	$ 125.6

Consolidation of a Real Estat98

Consolidation of a Real Estate Development Company - Revenues and Expenses Recognized in the Partnership's Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue of a consolidated real estate VIE
Land development services	$ 7.8	$ 9.7	$ 35.5	$ 71
Investment income	10.9	1.2	26	2.9
Revenue of a consolidated real estate VIE	18.7	10.9	61.5	73.9
Interest and other expenses of a consolidated real estate VIE:
Costs of products sold and services rendered	4.7	2.5	18.9	45.7
Interest expense	12.7	13.3	36.2	33.6
Change in fair value of loans payable	(2.5)	3	(2.6)	12.6
Compensation and benefits	2.1	4.3	5.5	9.1
G&A and other expenses	65.1	3.7	99.9	23.4
Interest and other expenses of a consolidated real estate VIE	$ 82.1	$ 26.8	$ 157.9	$ 124.4

Consolidation of a Real Estat99

Consolidation of a Real Estate Development Company - Outstanding Principal Amounts on Loans (Details) $ in Millions	Sep. 30, 2016USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2,016	$ 11
2,017	15.5
2,018	18.1
2,019	22.3
2,020	22.1
Thereafter	59.2
Total outstanding principal amounts on the loans	$ 148.2

Segment Reporting - Additional

Segment Reporting - Additional Information (Details) - Segment	Jan. 01, 2016	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016
Segment Reporting Information [Line Items]
Number of reportable segments		4		4	4
Alternate economic interest if a subsidiary’s performance hurdles are not exceeded (percent)					100.00%
Carlyle Commodity Management
Segment Reporting Information [Line Items]
Revised ownership percentage (percent)			88.00%
Claren Road
Segment Reporting Information [Line Items]
Percentage of economic interest (percent)					55.00%
Revised ownership percentage (percent)	63.00%
Emerging Sovereign Group (ESG)
Segment Reporting Information [Line Items]
Percentage of economic interest (percent)					55.00%

Segment Reporting - Reportable

Segment Reporting - Reportable Segments Financial Data (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fund level fee revenues
Fund management fees	$ 255.1	$ 278.3	$ 817.1	$ 830.1
Performance fees
Realized	383.4	329.2	905.1	1,251
Unrealized	(168.7)	(575.8)	(334.3)	(629.7)
Total performance fees	214.7	(246.6)	570.8	621.3
Investment income (loss)
Realized	40.7	12.5	92.2	24.2
Unrealized	29.8	(22)	34	(17.7)
Total investment income (loss)	70.5	(9.5)	126.2	6.5
Other income	3	40.4	6.2	88
Total revenues	607.3	297.5	1,698.4	2,290.4
Performance fee related
Realized	189	155.2	423	561.7
Unrealized	(78.1)	(228.1)	(146.1)	(146.2)
Total compensation and benefits	346.6	177.4	1,013.2	1,178.7
General, administrative, and other indirect expenses	188.9	289.6	362.6	539.2
Interest expense	15.6	14.5	46.3	43.6
Total expenses	661.8	795.3	1,668.1	2,665.9
Net Performance Fees	103.8	(173.7)	293.9	205.8
Segment assets	9,503.6		9,503.6		$ 32,181.6
Corporate Private Equity
Performance fees
Total performance fees	186.5	(257.8)	283	522.4
Global Market Strategies
Performance fees
Total performance fees	17.8	(52.3)	26.8	(29.9)
Real Assets
Performance fees
Total performance fees	(19.1)	32.1	198.6	3.3
Investment Solutions
Performance fees
Total performance fees	29.5	31.4	62.4	125.5
Operating Segments
Fund level fee revenues
Fund management fees	260.4	311.9	820	919.3
Portfolio advisory fees, net	3.8	3	12.8	12.3
Transaction fees, net	1.4	1	24.3	4.1
Total fund level fee revenues	265.6	315.9	857.1	935.7
Performance fees
Realized	380.9	333.1	919.2	1,251.8
Unrealized	(125.9)	(554.2)	(305.9)	(539.3)
Total performance fees	255	(221.1)	613.3	712.5
Investment income (loss)
Realized	11.1	9.2	27.9	(66.7)
Unrealized	2.2	(15.5)	7.9	43.4
Total investment income (loss)	13.3	(6.3)	35.8	(23.3)
Interest income	2.5	0.1	8	1.4
Other income	3.1	4.9	8.9	15.2
Total revenues	539.5	93.5	1,523.1	1,641.5
Compensation and benefits
Direct base compensation	107.1	121.7	337.4	361.6
Indirect base compensation	36.9	42.8	115.1	133.8
Equity-based compensation	32.9	30.8	95.2	91
Performance fee related
Realized	194.6	155.9	429.5	563.5
Unrealized	(81.9)	(228.4)	(149.2)	(133.4)
Total compensation and benefits	289.6	122.8	828	1,016.5
General, administrative, and other indirect expenses	173.6	78.1	326.7	238.8
Depreciation and amortization expense	7.2	6.6	21.8	18.8
Interest expense	15.6	14.4	46.3	43.5
Total expenses	486	221.9	1,222.8	1,317.6
Economic Net Income (Loss)	53.5	(128.4)	300.3	323.9
Net Performance Fees	142.3	(148.6)	333	282.4
Investment Income (Loss)	13.3	(6.3)	35.8	(23.3)
Equity-based compensation	32.9	30.8	95.2	91
Reserve for Litigation and Contingencies	100	0	100	0
Fee Related Earnings	30.8	57.3	126.7	155.8
Realized Net Performance Fees	186.3	177.2	489.7	688.3
Realized Investment Income (Loss)	11.1	9.2	27.9	(66.7)
Distributable Earnings	228.2	243.7	644.3	777.4
Segment assets	6,031.7		6,031.7
Operating Segments | Corporate Private Equity
Fund level fee revenues
Fund management fees	122.9	152.5	376.9	443.5
Portfolio advisory fees, net	2.9	2.8	11.2	11.3
Transaction fees, net	1.4	0.9	24.3	3.7
Total fund level fee revenues	127.2	156.2	412.4	458.5
Performance fees
Realized	311.1	258.6	775.2	1,101.1
Unrealized	(124.2)	(513.9)	(496.2)	(583)
Total performance fees	186.9	(255.3)	279	518.1
Investment income (loss)
Realized	24.1	11	46.6	22
Unrealized	(9.6)	(12.7)	(12.7)	(4.6)
Total investment income (loss)	14.5	(1.7)	33.9	17.4
Interest income	0.9	0.4	2.7	0.9
Other income	1.3	2.7	4	8.1
Total revenues	330.8	(97.7)	732	1,003
Compensation and benefits
Direct base compensation	52.7	59.1	165.8	169.3
Indirect base compensation	17.8	23.3	55.6	71.1
Equity-based compensation	19.8	17	56	49.6
Performance fee related
Realized	143.5	120.6	345.4	494.8
Unrealized	(57.8)	(235)	(219.9)	(256.8)
Total compensation and benefits	176	(15)	402.9	528
General, administrative, and other indirect expenses	81.4	36.4	144.3	105.9
Depreciation and amortization expense	3.4	3.3	10.2	9
Interest expense	7	7.8	21.2	23.1
Total expenses	267.8	32.5	578.6	666
Economic Net Income (Loss)	63	(130.2)	153.4	337
Net Performance Fees	101.2	(140.9)	153.5	280.1
Investment Income (Loss)	14.5	(1.7)	33.9	17.4
Equity-based compensation	19.8	17	56	49.6
Reserve for Litigation and Contingencies	49.8		49.8
Fee Related Earnings	16.9	29.4	71.8	89.1
Realized Net Performance Fees	167.6	138	429.8	606.3
Realized Investment Income (Loss)	24.1	11	46.6	22
Distributable Earnings	208.6	178.4	548.2	717.4
Segment assets	2,778.8		2,778.8
Operating Segments | Global Market Strategies
Fund level fee revenues
Fund management fees	44.1	52.3	147.4	162.6
Portfolio advisory fees, net	0.1	0.1	0.7	0.6
Transaction fees, net	0	0	0	0
Total fund level fee revenues	44.2	52.4	148.1	163.2
Performance fees
Realized	14.3	11.8	21.5	25
Unrealized	3.1	(62.4)	4.6	(40.1)
Total performance fees	17.4	(50.6)	26.1	(15.1)
Investment income (loss)
Realized	1.1	3.1	2.7	5.9
Unrealized	7.1	(5)	14.9	(10.7)
Total investment income (loss)	8.2	(1.9)	17.6	(4.8)
Interest income	1.1	(0.4)	3.7	0.2
Other income	1.2	1.1	3.5	3.7
Total revenues	72.1	0.6	199	147.2
Compensation and benefits
Direct base compensation	20.9	22.4	66.3	75.3
Indirect base compensation	7.5	6.9	22.7	22.1
Equity-based compensation	4.4	5	13.8	14.5
Performance fee related
Realized	6.6	5.4	8.1	11.8
Unrealized	1.3	(28.6)	2.2	(18.6)
Total compensation and benefits	40.7	11.1	113.1	105.1
General, administrative, and other indirect expenses	37.7	14	77.1	49.1
Depreciation and amortization expense	1.5	1.3	4.6	3.7
Interest expense	3	2.6	8.5	8.1
Total expenses	82.9	29	203.3	166
Economic Net Income (Loss)	(10.8)	(28.4)	(4.3)	(18.8)
Net Performance Fees	9.5	(27.4)	15.8	(8.3)
Investment Income (Loss)	8.2	(1.9)	17.6	(4.8)
Equity-based compensation	4.4	5	13.8	14.5
Reserve for Litigation and Contingencies	19		19
Fee Related Earnings	(5.1)	5.9	(4.9)	8.8
Realized Net Performance Fees	7.7	6.4	13.4	13.2
Realized Investment Income (Loss)	1.1	3.1	2.7	5.9
Distributable Earnings	3.7	15.4	11.2	27.9
Segment assets	783.8		783.8
Operating Segments | Real Assets
Fund level fee revenues
Fund management fees	60.3	69.3	192	197.1
Portfolio advisory fees, net	0	0.1	0.1	0.4
Transaction fees, net	0	0.1	0	0.4
Total fund level fee revenues	60.3	69.5	192.1	197.9
Performance fees
Realized	19.2	57.7	79.8	112.5
Unrealized	2	(9.3)	165.8	(38.3)
Total performance fees	21.2	48.4	245.6	74.2
Investment income (loss)
Realized	(14.1)	(4.9)	(21.4)	(94.7)
Unrealized	4.5	2.1	6.5	58.4
Total investment income (loss)	(9.6)	(2.8)	(14.9)	(36.3)
Interest income	0.4	0.1	1.3	0.2
Other income	0.4	0.8	1	2.4
Total revenues	72.7	116	425.1	238.4
Compensation and benefits
Direct base compensation	17.2	20.4	55.4	56.4
Indirect base compensation	8.9	9.7	28.2	30.8
Equity-based compensation	7.1	6.2	20.3	19.6
Performance fee related
Realized	8.7	25.5	34.8	46
Unrealized	(15.7)	7.2	55.2	28.4
Total compensation and benefits	26.2	69	193.9	181.2
General, administrative, and other indirect expenses	37.2	17	70.7	52.4
Depreciation and amortization expense	1.4	1.2	4.4	3.1
Interest expense	4.1	2.6	12.1	7.9
Total expenses	68.9	89.8	281.1	244.6
Economic Net Income (Loss)	3.8	26.2	144	(6.2)
Net Performance Fees	28.2	15.7	155.6	(0.2)
Investment Income (Loss)	(9.6)	(2.8)	(14.9)	(36.3)
Equity-based compensation	7.1	6.2	20.3	19.6
Reserve for Litigation and Contingencies	21.6		21.6
Fee Related Earnings	13.9	19.5	45.2	49.9
Realized Net Performance Fees	10.5	32.2	45	66.5
Realized Investment Income (Loss)	(14.1)	(4.9)	(21.4)	(94.7)
Distributable Earnings	10.3	46.8	68.8	21.7
Segment assets	1,549.6		1,549.6
Operating Segments | Investment Solutions
Fund level fee revenues
Fund management fees	33.1	37.8	103.7	116.1
Portfolio advisory fees, net	0.8	0	0.8	0
Transaction fees, net	0	0	0	0
Total fund level fee revenues	33.9	37.8	104.5	116.1
Performance fees
Realized	36.3	5	42.7	13.2
Unrealized	(6.8)	31.4	19.9	122.1
Total performance fees	29.5	36.4	62.6	135.3
Investment income (loss)
Realized	0	0	0	0.1
Unrealized	0.2	0.1	(0.8)	0.3
Total investment income (loss)	0.2	0.1	(0.8)	0.4
Interest income	0.1	0	0.3	0.1
Other income	0.2	0.3	0.4	1
Total revenues	63.9	74.6	167	252.9
Compensation and benefits
Direct base compensation	16.3	19.8	49.9	60.6
Indirect base compensation	2.7	2.9	8.6	9.8
Equity-based compensation	1.6	2.6	5.1	7.3
Performance fee related
Realized	35.8	4.4	41.2	10.9
Unrealized	(9.7)	28	13.3	113.6
Total compensation and benefits	46.7	57.7	118.1	202.2
General, administrative, and other indirect expenses	17.3	10.7	34.6	31.4
Depreciation and amortization expense	0.9	0.8	2.6	3
Interest expense	1.5	1.4	4.5	4.4
Total expenses	66.4	70.6	159.8	241
Economic Net Income (Loss)	(2.5)	4	7.2	11.9
Net Performance Fees	3.4	4	8.1	10.8
Investment Income (Loss)	0.2	0.1	(0.8)	0.4
Equity-based compensation	1.6	2.6	5.1	7.3
Reserve for Litigation and Contingencies	9.6		9.6
Fee Related Earnings	5.1	2.5	14.6	8
Realized Net Performance Fees	0.5	0.6	1.5	2.3
Realized Investment Income (Loss)	0	0	0	0.1
Distributable Earnings	5.6	$ 3.1	16.1	$ 10.4
Segment assets	$ 919.5		$ 919.5

Segment Reporting - Total Segme

Segment Reporting - Total Segments to Partnership Income before Provision for Taxes Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 607.3	$ 297.5	$ 1,698.4	$ 2,290.4
Expenses	661.8	795.3	1,668.1	2,665.9
Other income	4.8	(31.3)	3.1	935.8
Economic net income	(49.7)	(529.1)	33.4	560.3
Total assets	9,503.6		9,503.6		$ 32,181.6
Total Reportable Segments
Segment Reporting Information [Line Items]
Revenues	539.5	93.5	1,523.1	1,641.5
Expenses	486	221.9	1,222.8	1,317.6
Other income	0	0	0	0
Economic net income	53.5	(128.4)	300.3	323.9
Total assets	6,031.7		6,031.7
Consolidated Funds
Segment Reporting Information [Line Items]
Revenues	43	259.4	107.8	742.7
Expenses	41.2	355.5	105.9	959.5
Other income	4.8	(20.6)	3.1	950.3
Economic net income	6.6	(116.7)	5	733.5
Total assets	3,601.9		3,601.9
Reconciling Items
Segment Reporting Information [Line Items]
Revenues	24.8	(55.4)	67.5	(93.8)
Expenses	134.6	217.9	339.4	388.8
Other income	0	(10.7)	0	(14.5)
Economic net income	(109.8)	$ (284)	(271.9)	$ (497.1)
Total assets	$ (130)		$ (130)

Segment Reporting - Expenses Ad

Segment Reporting - Expenses Adjustment Represents Elimination of Intercompany Expenses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Other non-operating expense (income)	$ (3.7)	$ (9.9)	$ 0.8	$ (11.7)
Total expenses adjustment	661.8	795.3	1,668.1	2,665.9
Reconciling Items
Segment Reporting Information [Line Items]
Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments	50.6	54.5	175.3	202.1
Acquisition related charges, including amortization of intangibles and impairment	27.7	209.6	67	247.9
Other non-operating expense (income)	(3.7)	(9.9)	0.8	(11.7)
Tax provision associated with performance fees	(2)	(5.1)	(16.1)	(19.4)
Non-Carlyle economic interests in acquired business	69.4	26.2	120.7	134.6
Severance and other adjustments	1.5	0.1	10.3	3.1
Total expenses adjustment	134.6	217.9	339.4	388.8
Eliminations
Segment Reporting Information [Line Items]
Other non-operating expense (income)	0	0	0	0
Total expenses adjustment	$ (8.9)	$ (57.5)	$ (18.6)	$ (167.8)

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Income Before Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Loss before provision for income taxes	$ (49.7)	$ (529.1)	$ 33.4	$ 560.3
Adjustments:
Other non-operating expense (income)	(3.7)	(9.9)	0.8	(11.7)
Net (income) loss attributable to non-controlling interests in consolidated entities	29.1	152.4	29.8	(657.5)
Net performance fees	103.8	(173.7)	293.9	205.8
Reconciling Items
Adjustments:
Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments	50.6	54.5	175.3	202.1
Acquisition related charges, including amortization of intangibles and impairment	27.7	209.6	67	247.9
Other non-operating expense (income)	(3.7)	(9.9)	0.8	(11.7)
Tax provision associated with performance fees	(2)	(5.1)	(16.1)	(19.4)
Net (income) loss attributable to non-controlling interests in consolidated entities	29.1	152.4	29.8	(657.5)
Severance and other adjustments	1.5	(0.8)	10.1	2.2
Net performance fees	38.5	25.1	39.1	76.6
Operating Segments
Adjustments:
Economic Net Income (Loss)	53.5	(128.4)	300.3	323.9
Net performance fees	142.3	(148.6)	333	282.4
Investment Income (Loss)	13.3	(6.3)	35.8	(23.3)
Equity-based compensation	32.9	30.8	95.2	91
Reserve for Litigation and Contingencies	100	0	100	0
Fee Related Earnings	30.8	57.3	126.7	155.8
Realized performance fees, net of related compensation	186.3	177.2	489.7	688.3
Realized investment income (loss)	11.1	9.2	27.9	(66.7)
Distributable Earnings	$ 228.2	$ 243.7	$ 644.3	$ 777.4

Segment Reporting - Adjustments

Segment Reporting - Adjustments for Performance Fees, Performance Fee Related Compensation and Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Performance fees
Realized	$ 383.4	$ 329.2	$ 905.1	$ 1,251
Unrealized	(168.7)	(575.8)	(334.3)	(629.7)
Total performance fees	214.7	(246.6)	570.8	621.3
Performance fee related compensation expense
Realized	189	155.2	423	561.7
Unrealized	(78.1)	(228.1)	(146.1)	(146.2)
Total performance fee related compensation expense	110.9	(72.9)	276.9	415.5
Net performance fees
Realized	194.4	174	482.1	689.3
Unrealized	(90.6)	(347.7)	(188.2)	(483.5)
Total net performance fees	103.8	(173.7)	293.9	205.8
Investment income (loss)
Realized	40.7	12.5	92.2	24.2
Unrealized	29.8	(22)	34	(17.7)
Total investment income (loss)	70.5	(9.5)	126.2	6.5
Adjustments
Performance fees
Realized	(2.5)	3.9	14.1	0.8
Unrealized	42.8	21.6	28.4	90.4
Total performance fees	40.3	25.5	42.5	91.2
Performance fee related compensation expense
Realized	5.6	0.7	6.5	1.8
Unrealized	(3.8)	(0.3)	(3.1)	12.8
Total performance fee related compensation expense	1.8	0.4	3.4	14.6
Net performance fees
Realized	(8.1)	3.2	7.6	(1)
Unrealized	46.6	21.9	31.5	77.6
Total net performance fees	38.5	25.1	39.1	76.6
Investment income (loss)
Realized	(29.6)	(3.3)	(64.3)	(90.9)
Unrealized	(27.6)	6.5	(26.1)	61.1
Total investment income (loss)	(57.2)	3.2	(90.4)	(29.8)
Total Reportable Segments
Performance fees
Realized	380.9	333.1	919.2	1,251.8
Unrealized	(125.9)	(554.2)	(305.9)	(539.3)
Total performance fees	255	(221.1)	613.3	712.5
Performance fee related compensation expense
Realized	194.6	155.9	429.5	563.5
Unrealized	(81.9)	(228.4)	(149.2)	(133.4)
Total performance fee related compensation expense	112.7	(72.5)	280.3	430.1
Net performance fees
Realized	186.3	177.2	489.7	688.3
Unrealized	(44)	(325.8)	(156.7)	(405.9)
Total net performance fees	142.3	(148.6)	333	282.4
Investment income (loss)
Realized	11.1	9.2	27.9	(66.7)
Unrealized	2.2	(15.5)	7.9	43.4
Total investment income (loss)	$ 13.3	$ (6.3)	$ 35.8	$ (23.3)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	1 Months Ended
	Oct. 31, 2016$ / shares
Subsequent Event [Line Items]
Distribution per common unit (usd per share)	$ 0.50
Dividends payable, date of record	Nov. 8, 2016
Dividends payable, date to be paid	Nov. 16, 2016

Supplemental Financial Infor107

Supplemental Financial Information - Supplemental Financial Position (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 1,043.3	$ 991.5	$ 1,307.5	$ 1,242
Cash and cash equivalents held at Consolidated Funds	174.1	1,612.7
Restricted cash	16.9	18.9
Restricted cash and securities of Consolidated Funds	0	18.4
Corporate treasury investments	95.1	0
Accrued performance fees	2,776.6	2,988.6
Investments	1,118.5	885.9
Investments of Consolidated Funds	3,390.9	23,998.8
Due from affiliates and other receivables, net	203.3	195.3
Due from affiliates and other receivables of Consolidated Funds, net	36.9	765.3
Receivables and inventory of a consolidated real estate VIE	131.6	143.6
Fixed assets, net	101.5	110.9
Deposits and other	39.9	49
Other assets of a consolidated real estate VIE	41.3	47.6
Intangible assets, net	106.6	135.7
Deferred tax assets	227.1	219.4
Total assets	9,503.6	32,181.6
Liabilities and partners’ capital
Debt obligations	1,277.2	1,135.7
Loans payable of Consolidated Funds	3,272	17,064.7
Loans payable of a consolidated real estate VIE	88.9	75.4
Accounts payable, accrued expenses and other liabilities	396.4	463.8
Accrued compensation and benefits	1,857.5	1,953.2
Due to affiliates	222.8	245.9
Deferred revenue	199.6	40.9
Deferred tax liabilities	88	103.5
Other liabilities of Consolidated Funds	200.3	1,838.6
Other liabilities of a consolidated real estate VIE	98.3	84.4
Accrued giveback obligations	224.4	252
Total liabilities	7,925.4	23,258.1
Redeemable non-controlling interests in consolidated entities	6.2	2,845.9
Partners’ capital	438.7	485.9
Accumulated other comprehensive loss	(86)	(90.1)
Partners’ capital appropriated for Consolidated Funds	0	120.8
Non-controlling interests in consolidated entities	201.2	4,493.8
Non-controlling interests in Carlyle Holdings	1,018.1	1,067.2
Total partners’ capital	1,572	6,077.6
Total liabilities and partners’ capital	9,503.6	32,181.6
Consolidated Entities and Consolidated Funds
Assets
Total assets	3,601.9
Consolidated Entities and Consolidated Funds | Consolidated Operating Entities
Assets
Cash and cash equivalents	1,043.3	991.5
Cash and cash equivalents held at Consolidated Funds	0	0
Restricted cash	16.9	18.9
Restricted cash and securities of Consolidated Funds		0
Corporate treasury investments	95.1
Accrued performance fees	2,776.6	3,012.2
Investments	1,244	1,103.9
Investments of Consolidated Funds	0	0
Due from affiliates and other receivables, net	207.8	275.1
Due from affiliates and other receivables of Consolidated Funds, net	0	0
Receivables and inventory of a consolidated real estate VIE	131.6	143.6
Fixed assets, net	101.5	110.9
Deposits and other	39.9	45.8
Other assets of a consolidated real estate VIE	41.3	47.6
Intangible assets, net	106.6	135.7
Deferred tax assets	227.1	219.4
Total assets	6,031.7	6,104.6
Liabilities and partners’ capital
Debt obligations	1,277.2	1,135.7
Loans payable of Consolidated Funds	0	0
Loans payable of a consolidated real estate VIE	88.9	75.4
Accounts payable, accrued expenses and other liabilities	396.4	463.8
Accrued compensation and benefits	1,857.5	1,953.2
Due to affiliates	222.6	245.6
Deferred revenue	199.6	40.9
Deferred tax liabilities	88	103.5
Other liabilities of Consolidated Funds	0	0
Other liabilities of a consolidated real estate VIE	98.3	84.4
Accrued giveback obligations	224.4	252
Total liabilities	4,452.9	4,354.5
Redeemable non-controlling interests in consolidated entities	6.2	7.6
Partners’ capital	438.7	485.9
Accumulated other comprehensive loss	(85.7)	(90.4)
Partners’ capital appropriated for Consolidated Funds		0
Non-controlling interests in consolidated entities	200.7	280.8
Non-controlling interests in Carlyle Holdings	1,018.9	1,066.2
Total partners’ capital	1,572.6	1,742.5
Total liabilities and partners’ capital	6,031.7	6,104.6
Consolidated Entities and Consolidated Funds | Consolidated Funds
Assets
Cash and cash equivalents	0	0
Cash and cash equivalents held at Consolidated Funds	174.1	1,612.7
Restricted cash	0	0
Restricted cash and securities of Consolidated Funds		18.4
Corporate treasury investments	0
Accrued performance fees	0	0
Investments	0	0
Investments of Consolidated Funds	3,390.9	23,996.1
Due from affiliates and other receivables, net	0	0
Due from affiliates and other receivables of Consolidated Funds, net	36.9	765.3
Receivables and inventory of a consolidated real estate VIE	0	0
Fixed assets, net	0	0
Deposits and other	0	3.2
Other assets of a consolidated real estate VIE	0	0
Intangible assets, net	0	0
Deferred tax assets	0	0
Total assets		26,395.7
Liabilities and partners’ capital
Debt obligations	0	0
Loans payable of Consolidated Funds	3,272	17,332.5
Loans payable of a consolidated real estate VIE	0	0
Accounts payable, accrued expenses and other liabilities	0	0
Accrued compensation and benefits	0	0
Due to affiliates	0.2	1.8
Deferred revenue	0	0
Deferred tax liabilities	0	0
Other liabilities of Consolidated Funds	232.3	1,882.2
Other liabilities of a consolidated real estate VIE	0	0
Accrued giveback obligations	0	0
Total liabilities	3,504.5	19,216.5
Redeemable non-controlling interests in consolidated entities	0	2,838.3
Partners’ capital	24.9	(1.4)
Accumulated other comprehensive loss	0.2	1.7
Partners’ capital appropriated for Consolidated Funds		126.6
Non-controlling interests in consolidated entities	0.5	4,213
Non-controlling interests in Carlyle Holdings	71.8	1
Total partners’ capital	97.4	4,340.9
Total liabilities and partners’ capital	3,601.9	26,395.7
Eliminations
Assets
Cash and cash equivalents	0	0
Cash and cash equivalents held at Consolidated Funds	0	0
Restricted cash	0	0
Restricted cash and securities of Consolidated Funds		0
Corporate treasury investments	0
Accrued performance fees	0	(23.6)
Investments	(125.5)	(218)
Investments of Consolidated Funds	0	2.7
Due from affiliates and other receivables, net	(4.5)	(79.8)
Due from affiliates and other receivables of Consolidated Funds, net	0	0
Receivables and inventory of a consolidated real estate VIE	0	0
Fixed assets, net	0	0
Deposits and other	0	0
Other assets of a consolidated real estate VIE	0	0
Intangible assets, net	0	0
Deferred tax assets	0	0
Total assets	(130)	(318.7)
Liabilities and partners’ capital
Debt obligations	0	0
Loans payable of Consolidated Funds	0	(267.8)
Loans payable of a consolidated real estate VIE	0	0
Accounts payable, accrued expenses and other liabilities	0	0
Accrued compensation and benefits	0	0
Due to affiliates	0	(1.5)
Deferred revenue	0	0
Deferred tax liabilities	0	0
Other liabilities of Consolidated Funds	(32)	(43.6)
Other liabilities of a consolidated real estate VIE	0	0
Accrued giveback obligations	0	0
Total liabilities	(32)	(312.9)
Redeemable non-controlling interests in consolidated entities	0	0
Partners’ capital	(24.9)	1.4
Accumulated other comprehensive loss	(0.5)	(1.4)
Partners’ capital appropriated for Consolidated Funds		(5.8)
Non-controlling interests in consolidated entities	0	0
Non-controlling interests in Carlyle Holdings	(72.6)	0
Total partners’ capital	(98)	(5.8)
Total liabilities and partners’ capital	$ (130)	$ (318.7)

Supplemental Financial Infor108

Supplemental Financial Information - Supplemental Financial Position (Additional Information) (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Condensed Balance Sheet Statements, Captions [Line Items]
Principal amount	$ 148.2	$ 125.6
Consolidated Entities and Consolidated Funds | Consolidated Operating Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Principal amount	$ 148.2	$ 125.6

Supplemental Financial Infor109

Supplemental Financial Information - Supplemental Results of Operations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Fund management fees	$ 255,100,000	$ 278,300,000	$ 817,100,000	$ 830,100,000
Performance fees
Realized	383,400,000	329,200,000	905,100,000	1,251,000,000
Unrealized	(168,700,000)	(575,800,000)	(334,300,000)	(629,700,000)
Total performance fees	214,700,000	(246,600,000)	570,800,000	621,300,000
Investment income (loss)
Realized	40,700,000	12,500,000	92,200,000	24,200,000
Unrealized	29,800,000	(22,000,000)	34,000,000	(17,700,000)
Total investment income (loss)	70,500,000	(9,500,000)	126,200,000	6,500,000
Interest and other income	5,300,000	5,000,000	15,000,000	15,900,000
Interest and other income of Consolidated Funds	43,000,000	259,400,000	107,800,000	742,700,000
Revenue of a consolidated real estate VIE	18,700,000	10,900,000	61,500,000	73,900,000
Total revenues	607,300,000	297,500,000	1,698,400,000	2,290,400,000
Compensation and benefits
Base compensation	154,300,000	163,500,000	470,500,000	472,200,000
Equity-based compensation	81,400,000	86,800,000	265,800,000	291,000,000
Performance fee related
Realized	189,000,000	155,200,000	423,000,000	561,700,000
Unrealized	(78,100,000)	(228,100,000)	(146,100,000)	(146,200,000)
Total compensation and benefits	346,600,000	177,400,000	1,013,200,000	1,178,700,000
General, administrative and other expenses	188,900,000	289,600,000	362,600,000	539,200,000
Interest	15,600,000	14,500,000	46,300,000	43,600,000
Interest and other expenses of Consolidated Funds	32,300,000	296,900,000	87,300,000	791,700,000
Interest and other expenses of a consolidated real estate VIE	82,100,000	26,800,000	157,900,000	124,400,000
Other non-operating expense (income)	(3,700,000)	(9,900,000)	800,000	(11,700,000)
Total expenses	661,800,000	795,300,000	1,668,100,000	2,665,900,000
Other income (loss)
Net investment gains (losses) of Consolidated Funds	4,800,000	(31,300,000)	3,100,000	935,800,000
Income (Loss) before provision for income taxes	(49,700,000)	(529,100,000)	33,400,000	560,300,000
Benefit for income taxes	1,000,000	(4,100,000)	32,700,000	12,400,000
Net income (loss)	(50,700,000)	(525,000,000)	700,000	547,900,000
Net loss attributable to non-controlling interests in consolidated entities	(29,100,000)	(152,400,000)	(29,800,000)	657,500,000
Net income (loss) attributable to Carlyle Holdings	(21,600,000)	(372,600,000)	30,500,000	(109,600,000)
Net loss attributable to non-controlling interests in Carlyle Holdings	(22,400,000)	(288,700,000)	15,200,000	(95,800,000)
Net income (loss) attributable to The Carlyle Group L.P.	800,000	(83,900,000)	15,300,000	(13,800,000)
Consolidated Entities and Consolidated Funds
Investment income (loss)
Total revenues	43,000,000	259,400,000	107,800,000	742,700,000
Performance fee related
Total expenses	41,200,000	355,500,000	105,900,000	959,500,000
Other income (loss)
Net investment gains (losses) of Consolidated Funds	4,800,000	(20,600,000)	3,100,000	950,300,000
Consolidated Entities and Consolidated Funds | Consolidated Operating Entities
Revenues
Fund management fees	259,100,000	316,700,000	827,500,000	948,000,000
Performance fees
Realized	383,400,000	334,400,000	905,300,000	1,264,100,000
Unrealized	(168,700,000)	(569,900,000)	(334,300,000)	(613,100,000)
Total performance fees	214,700,000	(235,500,000)	571,000,000	651,000,000
Investment income (loss)
Realized	40,300,000	15,600,000	92,700,000	(49,300,000)
Unrealized	43,000,000	(24,600,000)	45,100,000	25,900,000
Total investment income (loss)	83,300,000	(9,000,000)	137,800,000	(23,400,000)
Interest and other income	5,400,000	5,500,000	16,300,000	17,800,000
Interest and other income of Consolidated Funds	0	0	0	0
Revenue of a consolidated real estate VIE	18,700,000	10,900,000	61,500,000	73,900,000
Total revenues	581,200,000	88,600,000	1,614,100,000	1,667,300,000
Compensation and benefits
Base compensation	154,300,000	163,500,000	470,500,000	472,200,000
Equity-based compensation	81,400,000	86,800,000	265,800,000	291,000,000
Performance fee related
Realized	189,000,000	155,200,000	423,000,000	561,700,000
Unrealized	(78,100,000)	(228,100,000)	(146,100,000)	(146,200,000)
Total compensation and benefits	346,600,000	177,400,000	1,013,200,000	1,178,700,000
General, administrative and other expenses	188,900,000	288,500,000	362,600,000	539,200,000
Interest	15,600,000	14,500,000	46,300,000	43,600,000
Interest and other expenses of Consolidated Funds	0	0	0	0
Interest and other expenses of a consolidated real estate VIE	82,100,000	26,800,000	157,900,000	124,400,000
Other non-operating expense (income)	(3,700,000)	(9,900,000)	800,000	(11,700,000)
Total expenses	629,500,000	497,300,000	1,580,800,000	1,874,200,000
Other income (loss)
Net investment gains (losses) of Consolidated Funds	0	0	0	0
Income (Loss) before provision for income taxes	(48,300,000)	(408,700,000)	33,300,000	(206,900,000)
Benefit for income taxes	1,000,000	(4,100,000)	32,700,000	12,400,000
Net income (loss)	(49,300,000)	(404,600,000)	600,000	(219,300,000)
Net loss attributable to non-controlling interests in consolidated entities	(27,700,000)	(32,000,000)	(29,900,000)	(109,700,000)
Net income (loss) attributable to Carlyle Holdings	(21,600,000)	(372,600,000)	30,500,000	(109,600,000)
Net loss attributable to non-controlling interests in Carlyle Holdings	(22,400,000)	(288,700,000)	15,200,000	(95,800,000)
Net income (loss) attributable to The Carlyle Group L.P.	800,000	(83,900,000)	15,300,000	(13,800,000)
Consolidated Entities and Consolidated Funds | Consolidated Funds
Revenues
Fund management fees	0	0	0	0
Performance fees
Realized	0	0	0	0
Unrealized	0	0	0	0
Total performance fees	0	0	0	0
Investment income (loss)
Realized	0	0	0	0
Unrealized	0	0	0	0
Total investment income (loss)	0	0	0	0
Interest and other income	0	0	0	0
Interest and other income of Consolidated Funds	43,000,000	259,400,000	107,800,000	742,700,000
Revenue of a consolidated real estate VIE	0	0	0	0
Compensation and benefits
Base compensation	0	0	0	0
Equity-based compensation	0	0	0	0
Performance fee related
Realized	0	0	0	0
Unrealized	0	0	0	0
Total compensation and benefits	0	0	0	0
General, administrative and other expenses	0	0	0	0
Interest	0	0	0	0
Interest and other expenses of Consolidated Funds	41,200,000	355,500,000	105,900,000	959,500,000
Interest and other expenses of a consolidated real estate VIE	0	0	0	0
Other non-operating expense (income)	0	0	0	0
Other income (loss)
Income (Loss) before provision for income taxes	6,600,000	(116,700,000)	5,000,000	733,500,000
Benefit for income taxes	0	0	0	0
Net income (loss)	6,600,000	(116,700,000)	5,000,000	733,500,000
Net loss attributable to non-controlling interests in consolidated entities	0	0	0	0
Net income (loss) attributable to Carlyle Holdings	6,600,000	(116,700,000)	5,000,000	733,500,000
Net loss attributable to non-controlling interests in Carlyle Holdings	0	0	0	0
Net income (loss) attributable to The Carlyle Group L.P.	6,600,000	(116,700,000)	5,000,000	733,500,000
Eliminations
Revenues
Fund management fees	(4,000,000)	(38,400,000)	(10,400,000)	(117,900,000)
Performance fees
Realized	0	(5,200,000)	(200,000)	(13,100,000)
Unrealized	0	(5,900,000)	0	(16,600,000)
Total performance fees	0	(11,100,000)	(200,000)	(29,700,000)
Investment income (loss)
Realized	400,000	(3,100,000)	(500,000)	73,500,000
Unrealized	(13,200,000)	2,600,000	(11,100,000)	(43,600,000)
Total investment income (loss)	(12,800,000)	(500,000)	(11,600,000)	29,900,000
Interest and other income	(100,000)	(500,000)	(1,300,000)	(1,900,000)
Interest and other income of Consolidated Funds	0	0	0	0
Revenue of a consolidated real estate VIE	0	0	0	0
Total revenues	(16,900,000)	(50,500,000)	(23,500,000)	(119,600,000)
Compensation and benefits
Base compensation	0	0	0	0
Equity-based compensation	0	0	0	0
Performance fee related
Realized	0	0	0	0
Unrealized	0	0	0	0
Total compensation and benefits	0	0	0	0
General, administrative and other expenses	0	1,100,000	0	0
Interest	0	0	0	0
Interest and other expenses of Consolidated Funds	(8,900,000)	(58,600,000)	(18,600,000)	(167,800,000)
Interest and other expenses of a consolidated real estate VIE	0	0	0	0
Other non-operating expense (income)	0	0	0	0
Total expenses	(8,900,000)	(57,500,000)	(18,600,000)	(167,800,000)
Other income (loss)
Net investment gains (losses) of Consolidated Funds	0	(10,700,000)	0	(14,500,000)
Income (Loss) before provision for income taxes	(8,000,000)	(3,700,000)	(4,900,000)	33,700,000
Benefit for income taxes	0	0	0	0
Net income (loss)	(8,000,000)	(3,700,000)	(4,900,000)	33,700,000
Net loss attributable to non-controlling interests in consolidated entities	(1,400,000)	(120,400,000)	100,000	767,200,000
Net income (loss) attributable to Carlyle Holdings	(6,600,000)	116,700,000	(5,000,000)	(733,500,000)
Net loss attributable to non-controlling interests in Carlyle Holdings	0	0	0	0
Net income (loss) attributable to The Carlyle Group L.P.	$ (6,600,000)	$ 116,700,000	$ (5,000,000)	$ (733,500,000)

Supplemental Financial Infor110

Supplemental Financial Information - Supplemental Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net income (loss)			$ 0.6	$ (219.3)
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization			52.6	281.7
Equity-based compensation	$ 81.4	$ 86.8	265.8	291
Excess tax benefits related to equity-based compensation			0	(1.4)
Non-cash performance fees			108	584.4
Other non-cash amounts			(19.2)	41.8
Investment (income) loss			(135.8)	32.6
Purchases of investments and trading securities			(262.7)	(99.2)
Proceeds from the sale of investments and trading securities			236.7	382.6
Payments of contingent consideration			(82.6)	(17.8)
Change in deferred taxes, net			3.7	(12)
Change in due from affiliates and other receivables			0.7	(3.4)
Change in receivables and inventory of a consolidated real estate VIE			45.1	(49.5)
Change in deposits and other			6	(9.3)
Change in other assets of a consolidated real estate VIE			33.1	(10.5)
Change in accounts payable, accrued expenses and other liabilities			71.8	(82.9)
Change in accrued compensation and benefits			32.4	(212.8)
Change in due to affiliates			(22.4)	253.5
Change in other liabilities of a consolidated real estate VIE			(1.2)	43.9
Change in deferred revenue			154.9	111.4
Net cash provided by operating activities			487.5	1,304.8
Cash flows from investing activities
Change in restricted cash			1.8	(217.9)
Purchases of fixed assets, net			(13.3)	(49.8)
Net cash used in investing activities			(11.5)	(267.7)
Cash flows from financing activities
Proceeds from debt obligations			20.6	0
Net payments on loans payable of a consolidated real estate VIE			(27.3)	(53.1)
Payments of contingent consideration			(3.3)	(8)
Excess tax benefits related to equity-based compensation			0	1.4
Distributions to common unitholders			(98.5)	(206)
Distributions to non-controlling interest holders in Carlyle Holdings			(300.9)	(702.4)
Contributions from non-controlling interest holders			75.3	104.5
Distributions to non-controlling interest holders			(85.5)	(92.1)
Net proceeds from issuance of common units, net of offering costs			0	209.9
Acquisition of non-controlling interests in Carlyle Holdings			0	(209.9)
Units repurchased			(53.6)	0
Change in due to/from affiliates financing activities			49.5	4.4
Net cash used in financing activities			(423.7)	(951.3)
Effect of foreign exchange rate changes			(0.5)	(20.3)
Increase in cash and cash equivalents			51.8	65.5
Cash and cash equivalents, beginning of period			991.5	1,242
Cash and cash equivalents, end of period	$ 1,043.3	$ 1,307.5	$ 1,043.3	$ 1,307.5