The Carlyle Group Inc. (CG) 10-Q 31 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 27, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
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		97,805,907

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 1,355.7	$ 670.9
Cash and cash equivalents held at Consolidated Funds	195.4	761.5
Restricted cash	9.6	13.1
Corporate treasury investments	117.4	190.2
Accrued performance fees	3,498.6	2,481.1
Investments	1,480.9	1,107
Investments of Consolidated Funds	4,235.8	3,893.7
Due from affiliates and other receivables, net	268.8	227.2
Due from affiliates and other receivables of Consolidated Funds, net	64.3	29.5
Receivables and inventory of a real estate VIE	0	145.4
Fixed assets, net	100.1	106.1
Deposits and other	58.5	39.4
Other assets of a real estate VIE	0	31.5
Intangible assets, net	38	42
Deferred tax assets	263.5	234.4
Total assets	11,686.6	9,973
Liabilities and partners’ capital
Debt obligations	1,515.6	1,265.2
Loans payable of Consolidated Funds	3,794.8	3,866.3
Loans payable of a real estate VIE at fair value (principal amount of $144.4 million as of December 31, 2016)	0	79.4
Accounts payable, accrued expenses and other liabilities	308.9	369.8
Accrued compensation and benefits	2,175.1	1,661.8
Due to affiliates	264.3	223.6
Deferred revenue	236	54
Deferred tax liabilities	77.1	76.6
Other liabilities of Consolidated Funds	475.4	637
Other liabilities of a real estate VIE	0	124.5
Accrued giveback obligations	67.6	160.8
Total liabilities	8,914.8	8,519
Commitments and contingencies
Series A preferred units (16,000,000 units issued and outstanding as of September 30, 2017)	387.6	0
Partners’ capital (common units 97,805,907 and 84,610,951 issued and outstanding as of September 30, 2017 and December 31, 2016, respectively)	660.4	403.1
Accumulated other comprehensive loss	(69.4)	(95.2)
Non-controlling interests in consolidated entities	374.7	277.8
Non-controlling interests in Carlyle Holdings	1,418.5	868.3
Total partners’ capital	2,771.8	1,454
Total liabilities and partners’ capital	$ 11,686.6	$ 9,973

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Principal amount of loans payable		$ 144.4
Common stock, units issued (in shares)	97,805,907	84,610,951
Common stock, units outstanding (in shares)	97,805,907	84,610,951
Series A Preferred Stock
Preferred units, issued (in shares)	16,000,000
Preferred units, outstanding (in shares)	16,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues
Fund management fees	$ 262,500,000	$ 255,100,000	$ 747,600,000	$ 817,100,000
Performance fees
Realized	411,800,000	383,400,000	852,700,000	905,100,000
Unrealized	(126,200,000)	(168,700,000)	658,100,000	(334,300,000)
Total performance fees	285,600,000	214,700,000	1,510,800,000	570,800,000
Investment income
Realized	15,500,000	40,700,000	42,000,000	92,200,000
Unrealized	21,700,000	29,800,000	100,500,000	34,000,000
Total investment income	37,200,000	70,500,000	142,500,000	126,200,000
Interest and other income	9,900,000	5,300,000	25,900,000	15,000,000
Interest and other income of Consolidated Funds	44,700,000	43,000,000	132,600,000	107,800,000
Revenue of a real estate VIE	0	18,700,000	109,000,000	61,500,000
Total revenues	639,900,000	607,300,000	2,668,400,000	1,698,400,000
Compensation and benefits
Base compensation	174,100,000	154,300,000	471,100,000	470,500,000
Equity-based compensation	81,000,000	81,400,000	241,800,000	265,800,000
Performance fee related
Realized	189,400,000	189,000,000	401,900,000	423,000,000
Unrealized	(51,800,000)	(78,100,000)	309,900,000	(146,100,000)
Total compensation and benefits	392,700,000	346,600,000	1,424,700,000	1,013,200,000
General, administrative and other expenses	(18,700,000)	188,900,000	170,900,000	362,600,000
Interest	16,900,000	15,600,000	48,400,000	46,300,000
Interest and other expenses of Consolidated Funds	37,200,000	32,300,000	160,900,000	87,300,000
Interest and other expenses of a real estate VIE and loss on deconsolidation	64,500,000	82,100,000	202,500,000	157,900,000
Other non-operating (income) expenses	0	(3,700,000)	100,000	800,000
Total expenses	492,600,000	661,800,000	2,007,500,000	1,668,100,000
Other income
Net investment gains of Consolidated Funds	18,600,000	4,800,000	76,400,000	3,100,000
Income (loss) before provision for income taxes	165,900,000	(49,700,000)	737,300,000	33,400,000
Provision (benefit) for income taxes	(1,300,000)	1,000,000	17,700,000	32,700,000
Net income (loss)	167,200,000	(50,700,000)	719,600,000	700,000
Net income (loss) attributable to non-controlling interests in consolidated entities	27,600,000	(29,100,000)	47,400,000	(29,800,000)
Net income (loss) attributable to Carlyle Holdings	139,600,000	(21,600,000)	672,200,000	30,500,000
Net income (loss) attributable to non-controlling interests in Carlyle Holdings	95,000,000	(22,400,000)	487,000,000	15,200,000
Net income attributable to The Carlyle Group L.P.	$ 44,600,000	$ 800,000	$ 185,200,000	$ 15,300,000
Net income attributable to The Carlyle Group L.P. per common unit (see Note 13)
Basic (usd per share)	$ 0.47	$ 0.01	$ 2.06	$ 0.19
Diluted (usd per share)	$ 0.43	$ (0.02)	$ 1.90	$ 0.08
Weighted-average common units
Basic (in shares)	95,198,102	83,602,503	89,815,112	82,062,633
Diluted (in shares)	334,392,424	312,534,968	97,538,190	306,981,103
Distributions declared per common unit (usd per share)	$ 0.42	$ 0.63	$ 0.68	$ 1.18

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 167.2	$ (50.7)	$ 719.6	$ 0.7
Other comprehensive income (loss)
Foreign currency translation adjustments	38.4	5.9	87.8	(11.3)
Cash flow hedges
Reclassification adjustment for loss included in interest expense	0	0.6	0	1.8
Defined benefit plans
Unrealized gain (loss) for the period	(0.3)	0.4	(1.3)	0.9
Less: reclassification adjustment for loss during the period, included in base compensation expense	0.3	0.1	0.9	0.1
Other comprehensive income (loss)	38.4	7	87.4	(8.5)
Comprehensive income (loss)	205.6	(43.7)	807	(7.8)
Comprehensive (income) loss attributable to non-controlling interests in consolidated entities	(38.6)	46.2	(68.5)	71
Comprehensive income attributable to redeemable non-controlling interests in consolidated entities	0	(0.2)	0	(0.1)
Comprehensive income attributable to Carlyle Holdings	167	2.3	738.5	63.1
Comprehensive (income) loss attributable to non-controlling interests in Carlyle Holdings	(114.3)	4.7	(534.5)	(39.2)
Comprehensive income attributable to The Carlyle Group L.P.	$ 52.7	$ 7	$ 204	$ 23.9

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net income	$ 719,600,000	$ 700,000
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	30,900,000	52,600,000
Equity-based compensation	241,800,000	265,800,000
Non-cash performance fees	(561,500,000)	108,000,000
Other non-cash amounts	(4,200,000)	(19,200,000)
Consolidated Funds related:
Realized/unrealized gain on investments of Consolidated Funds	(27,100,000)	(45,000,000)
Realized/unrealized (gain) loss from loans payable of Consolidated Funds	(49,300,000)	43,800,000
Purchases of investments by Consolidated Funds	(2,129,700,000)	(1,707,800,000)
Proceeds from sale and settlements of investments by Consolidated Funds	2,135,600,000	873,900,000
Non-cash interest income, net	(4,300,000)	(3,600,000)
Change in cash and cash equivalents held at Consolidated Funds	566,100,000	622,500,000
Change in other receivables held at Consolidated Funds	(30,900,000)	(4,800,000)
Change in other liabilities held at Consolidated Funds	(208,500,000)	(178,900,000)
Investment income	(138,900,000)	(124,200,000)
Purchases of investments	(412,400,000)	(218,600,000)
Proceeds from the sale of investments	297,700,000	219,700,000
Payments of contingent consideration	(22,500,000)	(82,600,000)
Deconsolidation of Claren Road (see Note 9)	(23,300,000)	0
Deconsolidation of Urbplan (see Note 15)	14,000,000	0
Changes in deferred taxes, net	(8,700,000)	3,700,000
Change in due from affiliates and other receivables	(78,200,000)	2,800,000
Change in receivables and inventory of a real estate VIE	(14,500,000)	45,100,000
Change in deposits and other	(7,100,000)	5,000,000
Change in other assets of a real estate VIE	1,600,000	33,100,000
Change in accounts payable, accrued expenses and other liabilities	1,900,000	71,800,000
Change in accrued compensation and benefits	42,200,000	32,400,000
Change in due to affiliates	15,000,000	(22,400,000)
Change in other liabilities of a real estate VIE	47,900,000	(1,200,000)
Change in deferred revenue	178,600,000	154,900,000
Net cash provided by operating activities	571,800,000	127,500,000
Cash flows from investing activities
Change in restricted cash	3,600,000	1,800,000
Purchases of fixed assets, net	(26,000,000)	(13,300,000)
Net cash used in investing activities	(22,400,000)	(11,500,000)
Cash flows from financing activities
Proceeds from issuance of preferred units, net of offering costs and expenses	387,600,000	0
Borrowings under credit facility	250,000,000	0
Repayments under credit facility	(250,000,000)	0
Payments on debt obligations	(15,000,000)	0
Proceeds from debt obligations	202,600,000	20,600,000
Net payments on loans payable of a real estate VIE	(14,300,000)	(27,300,000)
Net (payments) borrowings on loans payable of Consolidated Funds	(312,700,000)	339,700,000
Payments of contingent consideration	(400,000)	(3,300,000)
Distributions to common unitholders	(63,000,000)	(98,500,000)
Distributions to non-controlling interest holders in Carlyle Holdings	(163,100,000)	(300,900,000)
Contributions from non-controlling interest holders	87,700,000	75,300,000
Distributions to non-controlling interest holders	(74,000,000)	(87,300,000)
Common units repurchased	(200,000)	(53,600,000)
Change in due to/from affiliates financing activities	38,500,000	62,000,000
Net cash provided by (used in) financing activities	73,700,000	(73,300,000)
Effect of foreign exchange rate changes	61,700,000	9,100,000
Increase in cash and cash equivalents	684,800,000	51,800,000
Cash and cash equivalents, beginning of period	670,900,000	991,500,000
Cash and cash equivalents, end of period	1,355,700,000	1,043,300,000
Supplemental non-cash disclosures
Net increase in partners’ capital and accumulated other comprehensive income related to reallocation of ownership interest in Carlyle Holdings	23,800,000	12,400,000
Net asset impact of deconsolidation of Consolidated Funds	0	(7,170,200,000)
Tax effect from acquisition of Carlyle Holdings partnership units:
Deferred tax asset	24,300,000	2,500,000
Tax receivable agreement liability	21,100,000	2,200,000
Total partners’ capital	$ 3,200,000	$ 300,000

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
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, 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 Carlyle Group L.P. is a Delaware limited partnership formed on July 18, 2011, which 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. Except as otherwise indicated by the context, references to the “Partnership” or “Carlyle” refer to The Carlyle Group L.P., together with its consolidated subsidiaries. Carlyle provides investment management services to, and has transactions with, various private equity funds, real estate funds, private credit funds, collateralized loan obligations (“CLOs”), 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, Real Assets, Global Market Strategies, and Investment Solutions (see Note 16). 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 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 accounts of the real estate development company have been deconsolidated as of September 30, 2017 (see Note 15). The consolidation of the Consolidated Funds generally has a gross-up effect on assets, liabilities and cash flows, and generally 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 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, 2016 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
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. 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 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, 2017 , assets and liabilities of the consolidated VIEs reflected in the unaudited condensed consolidated balance sheets were $4.5 billion and $4.3 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, 2017 , the Partnership held $191.6 million of investments in these consolidated 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 unaudited 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, 2017 December 31, 2016 (Dollars in millions) Investments $ 828.5 $ 664.2 Due from affiliates, net — 1.8 Maximum Exposure to Loss $ 828.5 $ 666.0 Additionally, as of September 30, 2017 , the Partnership had $51.9 million and $12.8 million recognized in the condensed consolidated balance sheet related to accrued carry and management fee receivables, 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. 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. 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 closed-end carry funds in the Corporate Private Equity, Real Assets and Global Market Strategies segments, management fees generally range from 1.0% to 2.0% of commitments during the fund's investment period based on limited partners' capital commitments to the funds. Following the expiration or termination of the investment period, management fees generally are based on the lower of cost or fair value of invested capital and the rate charged may also be reduced to between 0.6% and 2.0% . For certain managed accounts and longer-dated carry funds, with expected terms greater than ten years , management fees generally range from 0.2% to 1.0% based on contributions for unrealized investments or the current value of the investment. The Partnership will receive management fees 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 longer-dated carry funds, management fees are called quarterly over the life of the funds. Within the Global Market Strategies segment, for CLOs and other structured products, management fees generally range from 0.3% to 0.6% based on the total par amounts 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 and other 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. 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 Partnership's private equity and real estate carry fund vehicles in the Investment Solutions segment generally range from 0.25% to 1.0% of 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 0.25% to 1.0% of 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 Investment Solutions carry fund vehicles 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 $10.2 million and $5.2 million for the three months ended September 30, 2017 and 2016 , respectively, and $28.0 million and $37.1 million for the nine months ended September 30, 2017 and 2016 , 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). For closed-end carry funds in the Corporate Private Equity, Real Assets and Global Market Strategies segments, the Partnership is generally entitled to a 20% allocation (or 10% to 20% on certain longer-dated carry funds and external co-investment vehicles, or approximately 2% to 10% in the majority of the Investment Solutions segment carry fund 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). 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, 2017 and December 31, 2016 , the Partnership has recognized $67.6 million and $160.8 million , respectively, for giveback obligations. The Partnership is also entitled to receive performance fees pursuant to management contracts from certain of its Global Market Strategies funds 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 unaudited 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, including CLOs. 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, as it relates to its investments in NGP (see Note 5). 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 unaudited condensed consolidated statements of operations. Interest income of the Consolidated Funds was $41.8 million and $40.0 million for the three months ended September 30, 2017 and 2016 , respectively, and $124.1 million and $101.6 million for the nine months ended September 30, 2017 and 2016 , respectively, and is included in interest and other income of Consolidated Funds in the accompanying unaudited 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. The compensation expense for awards that do not require future service is recognized immediately. 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 generally recognized as general, administrative and other expenses, except to the extent they are recognized as part of our equity method earnings because they are issued to employees of our equity method investees. 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 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. On January 1, 2017, the Partnership adopted ASU 2016-9, Compensation - Stock Compensation (Topic 718) . In accordance with ASU 2016-9, the Partnership elected to recognize equity-based award forfeitures in the period they occur as a reversal of previously recognized compensation expense. The reduction in compensation expense is determined based on the specific awards forfeited during that period. Furthermore, the Partnership is required to recognize prospectively all excess tax benefits and deficiencies as income tax benefit or expense in the statement of operations. 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 September 30, 2017 and December 31, 2016 , the Partnership had recorded a liability of $1.8 billion and $1.3 billion related to the portion of accrued performance fees due to employees and advisors, respectively, which was included in accrued compensation and benefits in the accompanying unaudited 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 unaudited 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 unaudited 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. 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 unaudited 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 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 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 unaudited condensed consolidated financial statements), and (iv) investments in the CLOs and certain credit-oriented investments (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 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 Equ

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2017
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, 2017 : (Dollars in millions) Level I Level II Level III Total Assets Investments of Consolidated Funds: Equity securities $ — $ — $ 26.8 $ 26.8 Bonds — — 347.0 347.0 Loans — — 3,861.7 3,861.7 Other — — 0.3 0.3 — — 4,235.8 4,235.8 Investments in CLOs and other — — 322.7 322.7 Corporate treasury investments Bonds — 87.6 — 87.6 Commercial paper and other — 29.8 — 29.8 — 117.4 — 117.4 Foreign currency forward contracts — 0.3 — 0.3 Total $ — $ 117.7 $ 4,558.5 $ 4,676.2 Liabilities Loans payable of Consolidated Funds (1) $ — $ — $ 3,794.8 $ 3,794.8 Contingent consideration (2) — — 1.3 1.3 Foreign currency forward contracts — 3.9 — 3.9 Total $ — $ 3.9 $ 3,796.1 $ 3,800.0 (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 consideration associated with the Partnership's acquisitions, excluding employment-based contingent consideration. 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, 2016 : (Dollars in millions) Level I Level II Level III Total Assets Investments of Consolidated Funds: Equity securities $ — $ — $ 10.3 $ 10.3 Bonds — — 396.4 396.4 Loans — — 3,485.6 3,485.6 Other — — 1.4 1.4 — — 3,893.7 3,893.7 Investments in CLOs and other — — 152.6 152.6 Corporate treasury investments Bonds — 91.3 — 91.3 Commercial paper and other — 98.9 — 98.9 — 190.2 — 190.2 Foreign currency forward contracts — 2.5 — 2.5 Total $ — $ 192.7 $ 4,046.3 $ 4,239.0 Liabilities Loans payable of Consolidated Funds (1) $ — $ — $ 3,866.3 $ 3,866.3 Contingent consideration (2) — — 1.5 1.5 Loans payable of a real estate VIE — — 79.4 79.4 Foreign currency forward contracts — 10.0 — 10.0 Total $ — $ 10.0 $ 3,947.2 $ 3,957.2 (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 consideration associated with the Partnership's acquisitions, excluding employment-based contingent consideration. There were no transfers from Level II to Level I during the nine months ended September 30, 2017 and 2016 . 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 is 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 – The Partnership measures 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. 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. 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 Real Estate VIE – Prior to September 30, 2017, the Partnership elected the fair value option to measure the loans payable of a 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 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, 2017 Investments of Consolidated Funds Equity Bonds Loans Other Investments in CLOs and other Total Balance, beginning of period $ 9.7 $ 395.9 $ 3,500.1 $ 2.0 $ 222.9 $ 4,130.6 Purchases 0.1 15.5 599.3 — 114.0 728.9 Sales and distributions — (71.2 ) (98.3 ) (3.1 ) (20.5 ) (193.1 ) Settlements — — (216.3 ) — — (216.3 ) Realized and unrealized gains (losses), net Included in earnings 16.8 (7.4 ) (9.6 ) 1.3 0.4 1.5 Included in other comprehensive income 0.2 14.2 86.5 0.1 5.9 106.9 Balance, end of period $ 26.8 $ 347.0 $ 3,861.7 $ 0.3 $ 322.7 $ 4,558.5 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ 16.8 $ (5.6 ) $ 0.8 $ 0.1 $ 1.3 $ 13.4 Financial Assets Nine Months Ended September 30, 2017 Investments of Consolidated Funds Equity Bonds Loans Other Investments in CLOs and other Total Balance, beginning of period $ 10.3 $ 396.4 $ 3,485.6 $ 1.4 $ 152.6 $ 4,046.3 Purchases 0.1 132.3 1,997.4 — 174.8 2,304.6 Sales and distributions (1.6 ) (227.5 ) (1,101.8 ) (3.0 ) (23.6 ) (1,357.5 ) Settlements — — (801.7 ) — — (801.7 ) Realized and unrealized gains (losses), net Included in earnings 17.1 (1.7 ) 16.3 1.7 6.5 39.9 Included in other comprehensive income 0.9 47.5 265.9 0.2 12.4 326.9 Balance, end of period $ 26.8 $ 347.0 $ 3,861.7 $ 0.3 $ 322.7 $ 4,558.5 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ 22.1 $ 0.8 $ 22.5 $ 0.1 $ 7.4 $ 52.9 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 and distributions 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 (losses) included in earnings related to financial assets still held at the reporting date $ (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 securities of Consolidated Funds 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 and distributions (5.1 ) (103.6 ) (249.9 ) — — (6.4 ) — (365.0 ) Settlements — — (516.9 ) — — — — (516.9 ) Realized and unrealized gains (losses), net 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 (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. Financial Liabilities Three Months Ended September 30, 2017 Loans Payable Contingent Loans Payable of Total Balance, beginning of period $ 3,721.2 $ 1.3 $ 72.6 $ 3,795.1 Paydowns (2.3 ) — — (2.3 ) Deconsolidation of a real estate VIE — — (72.6 ) (72.6 ) Realized and unrealized (gains) losses, net Included in earnings (21.1 ) — — (21.1 ) Included in other comprehensive income 97.0 — — 97.0 Balance, end of period $ 3,794.8 $ 1.3 $ — $ 3,796.1 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ (24.1 ) $ — $ — $ (24.1 ) Financial Liabilities Nine Months Ended September 30, 2017 Loans Payable Contingent Loans Payable of Total Balance, beginning of period $ 3,866.3 $ 1.5 $ 79.4 $ 3,947.2 Borrowings 1,569.0 — — 1,569.0 Paydowns (1,881.7 ) (0.4 ) (14.3 ) (1,896.4 ) Deconsolidation of a real estate VIE — — (72.6 ) (72.6 ) Realized and unrealized (gains) losses, net Included in earnings (49.4 ) 0.1 3.3 (46.0 ) Included in other comprehensive income 290.6 0.1 4.2 294.9 Balance, end of period $ 3,794.8 $ 1.3 $ — $ 3,796.1 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ (53.6 ) $ 0.1 $ — $ (53.5 ) Financial Liabilities Three Months Ended September 30, 2016 Loans Payable Derivative Contingent Loans Payable of a real estate VIE 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 a real estate VIE 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 Realized and unrealized gains and losses included in earnings for Level III investments for investments in CLOs and other investments 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 real estate VIE are included in interest and other expenses of a 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, 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, 2017 : Fair Value at Valuation Technique(s) Unobservable Input(s) Range (Dollars in millions) September 30, 2017 Assets Investments of Consolidated Funds: Equity securities $ 24.9 Discounted Cash Flow Discount Rates 6% - 10% (6%) Exit Cap Rate 7% - 10% (7%) 1.9 Consensus Pricing Indicative Quotes ($ per share) 28 - 28 (28) Bonds 347.0 Consensus Pricing Indicative Quotes (% of Par) 65 - 110 (99) Loans 3,861.7 Consensus Pricing Indicative Quotes (% of Par) 49 - 102 (100) Other 0.3 Counterparty Pricing Indicative Quotes 11 - 11 (11) 4,235.8 Investments in CLOs and other: Senior secured notes 275.8 Discounted Cash Flow with Consensus Pricing Discount Rates 1% - 9% (3%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 70% (60%) Indicative Quotes (% of Par) 95 - 102 (100) Subordinated notes and preferred shares 44.0 Discounted Cash Flow with Consensus Pricing Discount Rates 8% - 10% (9%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 70% (60%) Indicative Quotes (% of Par) 71 - 97 (87) Other 2.9 Comparable Multiple LTM EBITDA Multiple 6.3x - 6.3x (6.3x) Total $ 4,558.5 Liabilities Loans payable of Consolidated Funds: Senior secured notes (1) $ 3,621.3 Other N/A N/A Subordinated notes and preferred shares (1) 27.3 Other N/A N/A 146.2 Discounted Cash Flow with Consensus Pricing Discount Rates 8% - 10% (9%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 70% (60%) Indicative Quotes (% of Par) 79 - 94 (86) Contingent consideration (2) 1.3 Other N/A N/A Total $ 3,796.1 (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) Relates to contingent consideration associated with the Partnership's acquisitions. The following table summarizes quantitative information about the Partnership’s Level III inputs as of December 31, 2016 : Fair Value at Valuation Technique(s) Unobservable Input(s) Range (Dollars in millions) December 31, 2016 Assets Investments of Consolidated Funds: Equity securities $ 9.6 Discounted Cash Flow Discount Rates 9% - 10% (9%) Exit Cap Rate 7% - 9% (7%) 0.7 Consensus Pricing Indicative Quotes ($ per share) 10 - 10 (10) Bonds 396.4 Consensus Pricing Indicative Quotes (% of Par) 74 - 108 (99) Loans 3,485.6 Consensus Pricing Indicative Quotes (% of Par) 31 - 102 (99) Other 1.4 Counterparty Pricing Indicative Quotes 6 - 8 (7) 3,893.7 Investments in CLOs and other Senior secured notes 115.9 Discounted Cash Flow with Consensus Pricing Discount Rate 1% - 11% (2%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 74% (71%) Indicative Quotes (% of Par) 82 - 102 (99) Subordinated notes and preferred shares 35.4 Discounted Cash Flow with Consensus Pricing Discount Rate 9% - 14% (12%) Default Rates 1% - 10% (2%) Recovery Rates 50% - 74% (64%) Indicative Quotes (% of Par) 2 - 101 (96) Other 1.3 Comparable Multiple LTM EBITDA Multiple 5.7 x - 5.7x (5.7x) Total $ 4,046.3 Liabilities Loans payable of Consolidated Funds: Senior secured notes (1) $ 3,672.5 Other N/A N/A Subordinated notes and preferred shares (1) 26.9 Other N/A N/A 166.9 Discounted Cash Flow with Consensus Pricing Discount Rates 9% - 14% (12%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 74% (66%) Indicative Quotes (% of Par) 7 - 90 (68) Loans payable of a real estate VIE 79.4 Discounted Cash Flow Discount to Expected Payment 10% - 55% (37%) Discount Rate 20% - 30% (23%) Contingent consideration (2) 1.5 Other N/A N/A Total $ 3,947.2 (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 CLOs and the beneficial interests held by the Partnership. (2) Relates to contingent consideration associated with the Partnership's acquisitions. 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 or 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 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 or indicative quotes in isolation would result in a significantly higher fair value.

Accrued Performance Fees

Accrued Performance Fees	9 Months Ended
	Sep. 30, 2017
Deferred Costs [Abstract]
Accrued Performance Fees	Accrued Performance Fees The components of accrued performance fees are as follows: As of September 30, 2017 December 31, 2016 (Dollars in millions) Corporate Private Equity $ 2,130.9 $ 1,375.4 Real Assets 624.3 483.4 Global Market Strategies 84.9 68.6 Investment Solutions 658.5 553.7 Total $ 3,498.6 $ 2,481.1 Approximately 31% of accrued performance fees at September 30, 2017 are related to Carlyle Partners V, L.P. and Carlyle Partners VI, L.P., two of the Partnership's Corporate Private Equity funds. Approximately 27% of accrued performance fees at December 31, 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. Accrued performance fees are shown gross of the Partnership’s accrued performance fee-related compensation (see Note 8), 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, 2017 December 31, 2016 (Dollars in millions) Corporate Private Equity $ (9.8 ) $ (3.9 ) Real Assets (57.8 ) (156.9 ) Total $ (67.6 ) $ (160.8 ) Performance Fees The performance fees included in revenues are derived from the following segments: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in millions) Corporate Private Equity $ 159.6 $ 186.5 $ 1,147.4 $ 283.0 Real Assets 74.5 (19.1 ) 214.0 198.6 Global Market Strategies 17.2 17.8 50.8 26.8 Investment Solutions 34.3 29.5 98.6 62.4 Total $ 285.6 $ 214.7 $ 1,510.8 $ 570.8 Approximately 39% , or $110.4 million , of performance fees for the three months ended September 30, 2017 are related to the following funds along with total revenue recognized (total revenue includes performance fees, fund management fees, and investment income): • Carlyle Partners V, L.P. (Corporate Private Equity segment) - $39.7 million , • Carlyle Partners VI, L.P. (Corporate Private Equity segment) - $120.5 million , • Carlyle U.S. Equity Opportunities Fund, L.P. (Corporate Private Equity segment) - $(31.6) million , and • Carlyle International Energy Partners, L.P. (Real Assets segment) - $47.6 million . Approximately 65% , or $979.9 million , of performance fees for the nine months ended September 30, 2017 are related to the following funds along with total revenue recognized (total revenue includes performance fees, fund management fees, and investment income): • Carlyle Partners V, L.P. (Corporate Private Equity segment) - $301.0 million , • Carlyle Partners VI, L.P. (Corporate Private Equity segment) - $615.0 million , and • Carlyle Asia Partners IV, L.P. (Corporate Private Equity segment) - $271.3 million . 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 (total revenue includes performance fees, fund management fees, and investment income): • 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 (total revenue includes performance fees, fund management fees, and investment income): • 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 .

Investments

Investments	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Investments consist of the following: As of September 30, 2017 December 31, 2016 (Dollars in millions) Equity method investments, excluding accrued performance fees $ 1,157.7 $ 950.9 Investments in CLOs and other 323.2 156.1 Total investments $ 1,480.9 $ 1,107.0 Strategic Investment in NGP In December 2012, the Partnership entered into an agreement with ECM Capital, L.P. (“ECM”) and Barclays Natural Resource Investments, a division of Barclays Bank PLC (“BNRI”), to make an investment in NGP Management Company, L.L.C. (“NGP Management” and, together with its affiliates, “NGP”), an Irving, Texas-based energy investor. The agreement was amended in March 2017 to further align the interests of the Partnership and NGP. 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. In consideration for these interests, the Partnership paid an aggregate of $504.6 million in cash to ECM and BNRI, and issued 996,572 Carlyle Holdings partnership units to ECM that vest ratably through 2017. In January 2016, the Partnership also paid contingent consideration to BNRI of $183.0 million , of which $63.0 million was paid in cash and $120.0 million was paid by a six year promissory note issued by the Partnership (see Note 7). The transaction also included contingent consideration payable to ECM comprised of up to $45.0 million in cash (of which $22.5 million was paid in March 2017 with the balance payable in January 2018), together with an additional $15.0 million in cash, which is payable in January 2018, and 597,944 Carlyle Holdings partnership units that were issued in December 2012 and substantially vested upon the amendment in March 2017. The Partnership has also agreed to issue common units on each of February 1, 2018, 2019, and 2020, with a value of $10.0 million per year to an affiliate of NGP Management, and subsequent to 2020, to issue common units on an annual basis with a value not to exceed $10.0 million per year based on a prescribed formula, which will vest over a 42 -month period. The Partnership has the right to purchase the remaining equity interests in NGP Management in specific remote situations designed to protect the Partnership's interest. The Partnership accounts for its investments in NGP under the equity method of accounting. The Partnership recorded its investments in NGP 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 and the deferred restricted common units (which were granted in 2012 to certain NGP personnel) 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, 2017 and 2016 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in millions) Management fees $ 21.3 $ 20.9 $ 58.9 $ 62.1 Performance fees 7.4 37.9 62.7 47.6 Investment income 1.6 6.4 7.8 10.8 Expenses (10.6 ) (4.1 ) (46.2 ) (10.7 ) Amortization of basis differences (2.1 ) (13.8 ) (6.4 ) (41.4 ) Net investment income $ 17.6 $ 47.3 $ 76.8 $ 68.4 The difference between the Partnership’s remaining carrying value of its investment and its share of the underlying net assets of the investee was $23.4 million and $29.8 million as of September 30, 2017 and December 31, 2016 , respectively; these differences are amortized over a period of 10 years from the initial investment date. In addition, net investment income for the nine months ended September 30, 2017 includes $27.7 million of accelerated expenses (that the Partnership otherwise would have incurred in the fourth quarter of 2017) as a result of the March 2017 amendment to acknowledge that the performance conditions related to the contingently issuable Carlyle Holdings partnership units had substantially been met ahead of the measurement date. Equity Method Investments The Partnership’s equity method investments include its fund investments in Corporate Private Equity, Real Assets, Global Market Strategies, and Investment Solutions, typically as general partner interests, and its strategic investments in NGP (included within Real Assets), which are not consolidated. Investments are related to the following segments: As of September 30, 2017 December 31, 2016 (Dollars in millions) Corporate Private Equity $ 370.3 $ 282.4 Real Assets 729.7 622.8 Global Market Strategies 19.7 20.1 Investment Solutions 38.0 25.6 Total $ 1,157.7 $ 950.9 Investment Income (Loss) The components of investment income (loss) are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in millions) Income from equity investments $ 35.9 $ 65.9 $ 140.2 $ 116.3 Income from investments in CLOs and other investments 1.3 4.6 2.3 9.6 Other investment income — — — 0.3 Total $ 37.2 $ 70.5 $ 142.5 $ 126.2 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, 2017 2016 2017 2016 (Dollars in millions) Corporate Private Equity $ 8.8 $ 13.5 $ 38.4 $ 32.0 Real Assets 24.1 52.5 95.7 89.9 Global Market Strategies — (0.5 ) 0.6 (5.5 ) Investment Solutions 3.0 0.4 5.5 (0.1 ) Total $ 35.9 $ 65.9 $ 140.2 $ 116.3 Investments in CLOs and Other Investments Investments in CLOs and other investments as of September 30, 2017 and December 31, 2016 primarily consisted of $323.2 million and $156.1 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, 2017 , the Partnership formed five CLOs for which the Partnership is the primary beneficiary of one of those CLOs. As of September 30, 2017 , the total assets of this CLO included in the Partnership's condensed consolidated financial statements were approximately $522.7 million . 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, 2017 2016 2017 2016 (Dollars in millions) Interest income from investments $ 41.8 $ 40.0 $ 124.1 $ 101.6 Other income 2.9 3.0 8.5 6.2 Total $ 44.7 $ 43.0 $ 132.6 $ 107.8 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, 2017 2016 2017 2016 (Dollars in millions) Gains (losses) from investments of Consolidated Funds $ (2.5 ) $ 18.6 $ 27.1 $ 45.0 Gains (losses) from liabilities of CLOs 21.1 (15.9 ) 49.3 (43.8 ) Gains on other assets of CLOs — 2.1 — 1.9 Total $ 18.6 $ 4.8 $ 76.4 $ 3.1 The following table presents realized and unrealized gains (losses) earned from investments of the Consolidated Funds: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in millions) Realized losses $ (3.3 ) $ — $ (9.1 ) $ (9.6 ) Net change in unrealized gains 0.8 18.6 36.2 54.6 Total $ (2.5 ) $ 18.6 $ 27.1 $ 45.0

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2017
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, 2017 and December 31, 2016 : As of September 30, 2017 December 31, 2016 (Dollars in millions) Acquired contractual rights (1) $ 80.3 $ 74.1 Acquired trademarks (1) 1.2 1.0 Accumulated amortization (54.5 ) (43.2 ) Finite-lived intangible assets, net 27.0 31.9 Goodwill (1) 11.0 10.1 Intangible assets, net $ 38.0 $ 42.0 (1) Changes in the carrying amount of acquired contractual rights, acquired trademarks, and goodwill are due to foreign currency translation. As of September 30, 2017 , all of the remaining finite-lived intangible assets, net, and goodwill are associated with the Partnership's Investment Solutions segment. 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. No impairment losses were recorded during the nine months ended September 30, 2017 and 2016 . Intangible asset amortization expense was $2.6 million and $11.1 million during the three months ended September 30, 2017 and 2016 , respectively, and $7.6 million and $30.4 million during the nine months ended September 30, 2017 and 2016 , respectively, and is included in general, administrative, and other expenses in the unaudited condensed consolidated statements of operations. The following table summarizes the expected amortization expense for October 1, 2017 through December 31, 2021 (Dollars in millions): 2017 $ 2.6 2018 9.6 2019 5.9 2020 5.9 2021 3.0 $ 27.0

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2017
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): September 30, 2017 December 31, 2016 Borrowing Carrying Borrowing Carrying Senior Credit Facility Term Loan Due 5/05/2020 $ 25.0 $ 24.8 $ 25.0 $ 24.7 CLO Term Loans (See below) 229.9 229.9 33.8 33.8 3.875% Senior Notes Due 2/01/2023 500.0 497.5 500.0 497.2 5.625% Senior Notes Due 3/30/2043 600.0 600.7 600.0 600.7 Promissory Note Due 1/01/2022 108.8 108.8 108.8 108.8 Promissory Notes Due 7/15/2019 53.9 53.9 — — Total debt obligations $ 1,517.6 $ 1,515.6 $ 1,267.6 $ 1,265.2 Senior Credit Facility As of September 30, 2017 , 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, 2017 , 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, 2017 , the interest rate was 2.49% ). There was no amount outstanding under the revolving credit facility at September 30, 2017 . Interest expense under the senior credit facility was not significant for the three and nine months ended September 30, 2017 and 2016 . The fair value of the outstanding balances of the term loan and revolving credit facility at September 30, 2017 and December 31, 2016 approximated par value based on current market rates for similar debt instruments and are classified as Level III within the fair value hierarchy. On April 6, 2017, the Partnership borrowed $250.0 million against the $750.0 million revolving credit facility. This amount was repaid in full on June 2, 2017. 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 Outstanding Borrowing Outstanding Maturity Date (1) Interest Rate as of October 3, 2013 $ — (2) $ 13.2 (2) September 28, 2018 NA (3) June 7, 2016 20.6 20.6 July 15, 2027 3.10% (4) February 28, 2017 73.0 — September 21, 2029 2.33% (5) April 19, 2017 22.8 — April 22, 2031 3.24% (6) (12) June 28, 2017 23.1 — July 22, 2031 3.25% (7) (12) July 20, 2017 24.4 — April 21, 2027 2.84% (8) (12) August 2, 2017 22.8 — July 23, 2029 3.10% (9) (12) August 2, 2017 20.6 — August 3, 2022 1.75% (10) August 14, 2017 22.6 — August 15, 2030 3.16% (11) (12) $ 229.9 $ 33.8 (1) Maturity date is earlier of date indicated or the date that the CLO is dissolved. (2) Original borrowing of €12.6 million . (3) Note paid off in the third quarter of 2017. (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, 2017 and 2016 . (5) Original borrowing of €61.8 million ; incurs interest at EURIBOR plus applicable margins as defined in the agreement. (6) Incurs interest at LIBOR plus 1.932% . (7) Incurs interest at LIBOR plus 1.923% . (8) Incurs interest at LIBOR plus 1.536% . (9) Incurs interest at LIBOR plus 1.808% . (10) Original borrowing of €17.4 million ; incurs interest at LIBOR plus 1.75% and has full recourse to the Partnership. (11) Incurs interest at LIBOR plus 1.848% . (12) Term loan issued under master credit agreement. 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 generally 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, 2017 and 2016 . The fair value of the outstanding balance of the CLO term loans at September 30, 2017 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. European CLO Financing - February 28, 2017 On February 28, 2017, a subsidiary of the Partnership entered into a financing agreement with several financial institutions under which these financial institutions provided a €61.8 million term loan ( $73.0 million at September 30, 2017 ) to the Partnership. This term loan is secured by the Partnership’s investments in the retained notes in certain European CLOs that were formed in 2014 and 2015. This term loan will mature on the earlier of September 21, 2029 or the date that the certain European CLO retained notes have been redeemed. The Partnership may prepay the term loan in whole or in part at any time after the third anniversary of the date of issuance without penalty. Prepayment of the term loan within the first three years will incur a penalty based on the prepayment amount. Interest on this term loan accrues at EURIBOR plus applicable margins ( 2.33% at September 30, 2017 ). Master Credit Agreement - Term Loans In January 2017, the Partnership entered into a master credit agreement with a financial institution under which the financial institution expects to provide term loans to the Partnership for the purchase of eligible interests in CLOs. This agreement will terminate in January 2020. Any term loan to be issued under this master credit agreement will be secured by the Partnership’s investment in the respective CLO as well as any senior management fee and subordinated management fee payable by each CLO. Any term loan will bear interest at LIBOR plus a weighted average spread over LIBOR on the CLO notes and an applicable margin. Interest will be due quarterly. 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, 2017 and 2016 , and $14.9 million for both the nine months ended September 30, 2017 and 2016 . At September 30, 2017 and December 31, 2016 , the fair value of the notes, including accrued interest, was approximately $520.8 million and $512.8 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, 2017 and 2016 and $25.3 million for both the nine months ended September 30, 2017 and 2016 . At September 30, 2017 and December 31, 2016 , the fair value of the notes, including accrued interest, was approximately $688.7 million and $603.1 million , respectively, based on indicative quotes. The notes are classified as Level II within the fair value hierarchy. Promissory Notes Promissory Note Due January 1, 2022 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% ( 3.83% at September 30, 2017 ). 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, 2017 and 2016 . The fair value of the outstanding balance of the promissory note at September 30, 2017 and December 31, 2016 approximated par value based on current market rates for similar debt instruments and is classified as Level III within the fair value hierarchy. In December 2016, the Partnership repurchased $11.2 million of the promissory note for a purchase price of approximately $9.0 million . Approximately $108.8 million of the promissory note is outstanding at September 30, 2017 and December 31, 2016 . Promissory Notes Due July 15, 2019 In June 2017, as part of the settlement with investors in two commodities investment vehicles managed by an affiliate of the Partnership (disclosed in Note 9), the Partnership issued a series of promissory notes, aggregating to $53.9 million , to the investors of these commodities investment vehicles. Interest on these promissory notes accrues at the three month LIBOR plus 2% ( 3.33% at September 30, 2017 ). The Partnership may prepay these promissory notes in whole or in part at any time without penalty. These promissory notes are scheduled to mature on July 15, 2019. Interest expense on these promissory notes was not significant for the three and nine months ended September 30, 2017 . The fair value of the outstanding balance of these promissory notes at September 30, 2017 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, 2017 . Loans Payable of Consolidated Funds Loans payable of Consolidated Funds primarily 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, 2017 and December 31, 2016 , the following borrowings were outstanding, which includes preferred shares classified as liabilities (Dollars in millions): As of September 30, 2017 Borrowing Fair Value Weighted Weighted Senior secured notes $ 3,631.2 $ 3,621.3 2.24 % 11.49 Subordinated notes, preferred shares and other 174.8 173.5 N/A (a) 9.79 Total $ 3,806.0 $ 3,794.8 As of December 31, 2016 Borrowing Fair Value Weighted Weighted Senior secured notes $ 3,681.0 $ 3,672.5 2.45 % 10.22 Subordinated notes, preferred shares and other 195.6 193.8 N/A (a) 9.26 Total $ 3,876.6 $ 3,866.3 (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. 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, 2017 and December 31, 2016 , the fair value of the CLO assets was $4.5 billion and $4.7 billion , respectively.

Accrued Compensation and Benefi

Accrued Compensation and Benefits	9 Months Ended
	Sep. 30, 2017
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, 2017 December 31, 2016 (Dollars in millions) Accrued performance fee-related compensation $ 1,803.9 $ 1,307.4 Accrued bonuses 261.2 177.2 Other 110.0 177.2 Total $ 2,175.1 $ 1,661.8

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
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, 2017 (Dollars in millions): Unfunded Corporate Private Equity $ 1,190.1 Real Assets 900.6 Global Market Strategies 573.9 Investment Solutions 165.5 Total $ 2,830.1 Of the $2.8 billion of unfunded commitments, approximately $2.5 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 ( 4.30% weighted-average rate at September 30, 2017 ). As of September 30, 2017 and December 31, 2016 , approximately $11.3 million and $9.6 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, 2017 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 $67.6 million at September 30, 2017 , 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, 2017 . However, the ultimate giveback obligation, if any, generally is not paid until the end of a fund’s life or earlier if the giveback becomes fixed and early payment is agreed upon by the fund's partners (see Note 2). The Partnership has recorded $3.4 million and $5.6 million of unbilled receivables from former and current employees and senior Carlyle professionals as of September 30, 2017 and December 31, 2016 , 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, $254.4 million and $356.9 million have been withheld from distributions of carried interest to senior Carlyle professionals and employees for potential giveback obligations as of September 30, 2017 and December 31, 2016 , respectively. Such amounts are held on behalf of the respective current and former Carlyle employees to satisfy any givebacks they may owe and 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, 2017 , approximately $ 38.3 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 $ 29.3 million . If, at September 30, 2017 , 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 $0.8 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 2017 through 2032. These leases are accounted for as operating leases. Rent expense was approximately $15.2 million and $13.9 million for the three months ended September 30, 2017 and 2016 , respectively, and $43.4 million and $41.3 million for the nine months ended September 30, 2017 and 2016 , 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): 2017 $ 12.6 2018 48.1 2019 47.9 2020 47.4 2021 43.0 Thereafter 334.6 $ 533.6 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 $60.7 million and $60.3 million as of September 30, 2017 and December 31, 2016 , respectively, 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 claims asserted against the Partnership in the pending litigation matters described below are without merit and intends to vigorously contest such allegations. 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 in state court in New Mexico, 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 September 2017, the Court dismissed the lawsuit. On October 4, 2017, the qui tam plaintiffs appealed that ruling. The Attorney General may also pursue its own recovery from the defendants in the action. Carlyle Capital Corporation Limited (“CCC”) was a fund sponsored by the Partnership 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 . On September 4, 2017, the Royal Court of Guernsey ruled that the Partnership and Directors of CCC acted reasonably and appropriately in the management and governance of CCC and that none of the Partnership, its affiliates or former directors of CCC had any liability. The liquidators have asked for additional time until December 5, 2017 to decide whether or not to appeal the trial court decision. 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 certain of the Partnership's funds' portfolio companies, and (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. The Partnership is cooperating fully with the SEC's inquiries. During the year, the Partnership entered into settlement and purchase agreements with investors in a hedge fund and two structured finance vehicles managed by Vermillion related to investments of approximately $400 million in petroleum commodities that the Partnership believes were misappropriated by third parties outside the U.S. In total, the Partnership paid $265 million ( $165 million of which was paid in the nine months ended September 30, 2017 with the remaining $100 million paid in 2016) to fully resolve all claims related to these matters and issued promissory notes in the aggregate amount of $54 million to repurchase the investors' interests in the two structured finance vehicles. In connection with these settlements, the Partnership also acquired certain rights to receive a portion of any proceeds obtained from marine cargo insurance policies and other efforts to pursue reimbursement for the misappropriation of petroleum. In the three and nine months ended September 30, 2017 , the Partnership has recognized $74 million and $177 million , respectively, net of related recovery costs, in general liability insurance proceeds related to these settlements. 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, 2017 , the Partnership had recorded liabilities aggregating to approximately $35 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, upward 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. Transaction with Claren Road O n December 12, 2016, the Partnership signed an agreement with the founders of Claren Road Asset Management, LLC and its subsidiaries (collectively, “Claren Road”) to transfer all of the Partnership's 63% ownership interest in Claren Road to its founders. As a result of the transaction, the Partnership was also relieved of all of its obligations under the 2010 acquisition agreement, including any potential future obligations thereunder. This transaction closed on January 31, 2017. The Partnership recorded additional base compensation expense of approximately $25.0 million in the year ended December 31, 2016 associated with the transfer of the interests to Claren Road in addition to the disposition of approximately $4.4 million of intangible assets and approximately $10.8 million of potential future obligations. The remaining income before provision for income taxes for the year ended December 31, 2016 was not material. The impact of this transaction on our results for the three and nine months ended September 30, 2017 was not material. Claren Road was part of the Partnership's Global Market Strategies segment. 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, 2017
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, 2017 and December 31, 2016 : As of September 30, 2017 December 31, 2016 (Dollars in millions) Unbilled receivable for giveback obligations from current and former employees $ 3.4 $ 5.6 Notes receivable and accrued interest from affiliates 16.8 37.6 Other receivables from unconsolidated funds and affiliates, net 248.6 184.0 Total $ 268.8 $ 227.2 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 6.79% as of September 30, 2017 . 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, 2017 and December 31, 2016 : As of September 30, 2017 December 31, 2016 (Dollars in millions) Due to affiliates of Consolidated Funds $ 0.2 $ 0.2 Due to non-consolidated affiliates 54.2 29.7 Performance-based contingent cash consideration related to acquisitions 34.3 36.1 Amounts owed under the tax receivable agreement 155.9 137.8 Other 19.7 19.8 Total $ 264.3 $ 223.6 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, the exchange in May 2012 by CalPERS of its Carlyle Holdings partnership units for Partnership common units, as well as certain unit exchanges by senior Carlyle professionals which began in the second quarter of 2017 (see Note 14). 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 $1.7 million and $1.5 million for the three months ended September 30, 2017 and 2016 , respectively, and $3.9 million and $3.7 million for the nine months ended September 30, 2017 and 2016 , 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, 2017
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 $(1.3) million and $1.0 million for the three months ended September 30, 2017 and 2016 , respectively, and $17.7 million and $32.7 million for the nine months ended September 30, 2017 and 2016 , respectively. In the normal course of business, the Partnership is subject to examination by federal and certain state, local and foreign tax regulators. With a few exceptions, as of September 30, 2017 , the Partnership’s U.S. federal income tax returns for the years 2014 through 2016 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 2016 . Foreign tax returns are generally subject to audit from 2009 to 2016 . Certain of the Partnership’s affiliates are currently under audit by federal, state and foreign tax authorities. Currently, the Internal Revenue Service is examining the tax returns of certain subsidiaries for the 2013, 2014, and 2015 years. 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, 2017
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, 2017 December 31, 2016 (Dollars in millions) Non-Carlyle interests in Consolidated Funds $ 23.5 $ 13.5 Non-Carlyle interests in majority-owned subsidiaries 349.0 331.7 Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions 2.2 (67.4 ) Non-controlling interests in consolidated entities $ 374.7 $ 277.8 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 September 30, 2017 2016 2017 2016 (Dollars in millions) Non-Carlyle interests in Consolidated Funds $ 8.2 $ (1.2 ) $ 8.1 $ 0.2 Non-Carlyle interests in majority-owned subsidiaries 11.0 (24.7 ) 22.5 (21.6 ) Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions 8.4 (3.4 ) 16.8 (8.5 ) Net income (loss) attributable to other non-controlling interests in consolidated entities 27.6 (29.3 ) 47.4 (29.9 ) Net loss attributable to redeemable non-controlling interests in consolidated entities — 0.2 — 0.1 Non-controlling interests in income (loss) of consolidated entities $ 27.6 $ (29.1 ) $ 47.4 $ (29.8 )

Earnings Per Common Unit

Earnings Per Common Unit	9 Months Ended
	Sep. 30, 2017
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 September 30, 2017 Nine Months Ended Basic Diluted Basic Diluted Net income attributable to The Carlyle Group L.P. $ 44,600,000 $ 44,600,000 $ 185,200,000 $ 185,200,000 Incremental net income from assumed exchange of Carlyle Holdings partnership units — 97,800,000 — — Net income attributable to common units $ 44,600,000 $ 142,400,000 $ 185,200,000 $ 185,200,000 Weighted-average common units outstanding 95,198,102 334,392,424 89,815,112 97,538,190 Net income per common unit $ 0.47 $ 0.43 $ 2.06 $ 1.90 Three Months Ended September 30, 2016 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 income (loss) 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 The weighted-average common units outstanding, basic and diluted, are calculated as follows: Three Months Ended September 30, 2017 Nine Months Ended Basic Diluted Basic Diluted The Carlyle Group L.P. weighted-average common units outstanding 95,198,102 95,198,102 89,815,112 89,815,112 Unvested deferred restricted common units — 7,756,460 — 7,125,134 Issuable Carlyle Holdings Partnership units — 597,944 — 597,944 Weighted-average vested Carlyle Holdings Partnership units — 228,839,164 — — Unvested Carlyle Holdings Partnership units — 2,000,754 — — Weighted-average common units outstanding 95,198,102 334,392,424 89,815,112 97,538,190 Three Months Ended September 30, 2016 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 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 issuable Carlyle Holdings partnership units associated with the Partnership's strategic investments in NGP. 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, 228,839,164 of vested Carlyle Holdings partnership units and 2,000,754 of unvested Carlyle Holdings partnership units for the three months ended September 30, 2017 were dilutive. As a result, net income of non-controlling interests in Carlyle Holdings associated with the assumed exchange of $97.8 million for the three months ended September 30, 2017 has been included in net income attributable to The Carlyle Group L.P. for purposes of the dilutive earnings per common unit calculation. Further, 227,315,486 of vested Carlyle Holdings partnership units and 1,963,185 of unvested Carlyle Holdings partnership units for the nine months ended September 30, 2017 were antidilutive, and therefore have been excluded. Further, based on these calculations, 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 and nine months ended September 30, 2016 were dilutive. As a result, a net (loss) income of non-controlling interests in Carlyle Holdings associated with the assumed exchange of $(5.7) million and $8.1 million for the three and nine months ended September 30, 2016 have been included in net income attributable to The Carlyle Group L.P. for purposes of the dilutive earnings per common unit calculation. 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, 2017 , 7,782 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 and Equity-Based Compens

Equity and Equity-Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity and Equity-Based Compensation	Equity and Equity-Based Compensation Preferred Unit Issuance On September 13, 2017, the Partnership issued 16,000,000 of 5.875% Series A Preferred Units (the “Preferred Units”) for gross proceeds of $400.0 million , or $387.6 million , net of issuance costs and expenses. The Partnership plans to use the net proceeds from the sale of the Preferred Units for general corporate purposes, including to fund investments. Distributions on the Preferred Units will be payable quarterly on March 15, June 15, September 15, and December 15 of each year, beginning on December 15, 2017, when, as and if declared by the Board of Directors of the general partner of the Partnership, at a rate per annum of 5.875% . Distributions on the Preferred Units are discretionary and non-cumulative. Subject to certain exceptions, unless distributions have been declared and paid or declared and set apart for payment on the Preferred Units for a quarterly distribution period, during the remainder of that distribution period, the Partnership may not repurchase any common units or any other units that are junior in rank to the Preferred Units and the Partnership may not declare or pay or set apart payment for distributions on any common or junior units for the remainder of that distribution period, other than (i) distributions of tax distribution amounts received from Carlyle Holdings in accordance with the terms of the partnership agreements of the Carlyle Holdings partnerships as in effect on the date the Preferred Units were first issued, (ii) the net unit settlement of equity-based awards granted under The Carlyle Group L.P. 2012 Equity Incentive Plan (the “Equity Incentive Plan”) (or any successor or any similar plan) in order to satisfy associated tax obligations, or (iii) distributions paid in junior units or options, warrants or rights to subscribe for or purchase other units or with proceeds from the substantially concurrent sale of junior units. These restrictions are not applicable during the period from original issue date to, but excluding, December 15, 2017. The Preferred Units may be redeemed at the Partnership’s option, in whole or in part, at any time on or after September 15, 2022 at a price of $25.00 per Preferred Unit, plus declared and unpaid distributions to, but excluding, the redemption date, without payment of any undeclared distributions. Holders of the Preferred Units have no right to require the redemption of the Preferred Units and there is no maturity date. If a change of control event or tax redemption event occurs prior to September 15, 2022, the Partnership may, at its option, redeem the Preferred Units, in whole but not in part, upon at least 30 days ’ notice, within 60 days of the occurrence of such change in control event or such tax redemption event, as applicable, at a price of $25.25 per Preferred Unit, plus declared and unpaid distributions to, but excluding, the redemption date, without payment of any undeclared distributions. If (i) a change of control event occurs (whether before, on or after September 15, 2022) and (ii) the Partnership does not give notice prior to the 31 st day following the change in control event to redeem all the outstanding Preferred Units, the distribution rate per annum on the Preferred Units will increase by 5.00% , beginning on the 31 st day following such change in control event. If a rating agency event occurs prior to September 15, 2022, the Partnership may, at its option, redeem the Preferred Units, in whole but not in part, upon at least 30 days ’ notice, within 60 days of the occurrence of such rating agency event, as applicable, at a price of $25.50 per Preferred Unit, plus declared and unpaid distributions to, but excluding, the redemption date, without payment of any undeclared distributions. The Preferred Units are not convertible into common units or any other class or series of interests or any other security. Holders of the Preferred Units will generally have no voting rights and have none of the voting rights given to holders of the Partnership’s common units, except as otherwise provided in the Partnership's limited partnership agreement. 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, 2017 , the Partnership paid an aggregate of $0.2 million to repurchase and retire 14,190 units with all of the repurchases done via open market transactions. There were no unit repurchases for the three months ended September 30, 2017 . Since inception of this program, the Partnership has paid an aggregate of $59.1 million to repurchase and retire 3.7 million units. Quarterly Unit Exchange Program Beginning in the second quarter of 2017, current and former senior Carlyle professionals are able to exchange their Carlyle Holdings partnership units for common units on a quarterly basis, subject to the terms of the Exchange Agreement. During the three and nine months ended September 30, 2017 , current and former senior Carlyle professionals exchanged 1,646,980 and 4,634,232 , respectively, Carlyle Holdings partnership units for common units, resulting in a reallocation of capital of $9.2 million and $23.2 million , respectively, from non-controlling interests in Carlyle Holdings to partners' capital and accumulated other comprehensive loss. None of Carlyle's named executive officers participated in the quarterly unit exchange. Equity-Based Compensation In May 2012, Carlyle Group Management L.L.C., the general partner of the Partnership, adopted 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, 2017, 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 32,645,874 . 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. 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. For three and nine months ended September 30, 2017 and 2016 , the expense associated with these awards was not material. As of September 30, 2017 , the total unrecognized equity-based compensation expense related to unvested common units was no t material and is expected to be recognized within the year. 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. The Partnership recorded equity-based compensation expense associated with these awards of $42.7 million and $40.8 million for the three months ended September 30, 2017 and 2016 , respectively, and $121.7 million and $147.6 million for the nine months ended September 30, 2017 and 2016 , 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. As disclosed in Note 5, the performance condition was removed as part of the March 2017 agreement with NGP. 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 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 periods prior to 2017 for Carlyle Holdings partnership units that vest based on the achievement of performance conditions, the Partnership used the minimum number of partnership units within the range of potential values for measurement and recognition purposes. As of September 30, 2017 , the total unrecognized equity-based compensation expense related to unvested Carlyle Holdings partnership units is $100.8 million , which is expected to be recognized over a weighted-average term of 0.6 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 per unit discount that generally ranges up to 40% , as these unvested awards do not participate in any Partnership distributions. The Partnership recorded compensation expense of $38.1 million and $40.6 million for the three months ended September 30, 2017 and 2016 , respectively, with $4.6 million and $4.4 million of corresponding deferred tax benefits, respectively. The Partnership recorded compensation expense of $119.9 million and $116.8 million for the nine months ended September 30, 2017 and 2016 , respectively with $14.0 million and $13.5 million of corresponding deferred tax benefits, respectively. As of September 30, 2017 , the total unrecognized equity-based compensation expense related to unvested deferred restricted common units is $190.7 million , which is expected to be recognized over a weighted-average term of 2.0 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 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, 2017 and 2016 . A summary of the status of the Partnership’s non-vested equity-based awards as of September 30, 2017 and a summary of changes for the nine months ended September 30, 2017 , 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, 2016 17,240,000 $ 22.22 16,705,920 $ 19.21 38,911 $ 21.67 2,520 $ 34.81 Granted — $ — 8,226,461 $ 14.14 — $ — — $ — Vested 8,145,924 $ 22.22 8,288,838 $ 19.67 31,129 $ 21.53 2,520 $ 34.81 Forfeited 437,314 $ 22.22 453,461 $ 20.22 — $ — — $ — Balance, September 30, 2017 8,656,762 $ 22.00 16,190,082 $ 16.77 7,782 $ 22.22 — $ —

Deconsolidation of a Real Estat

Deconsolidation of a Real Estate Development Company	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deconsolidation of a Real Estate Development Company	Deconsolidation of a Real Estate Development Company The Partnership, indirectly through certain Carlyle real estate investment funds, had an investment in Urbplan Desenvolvimento Urbano S.A. (“Urbplan”), a Brazilian residential subdivision and land development company. During the three months ended September 30, 2017 , the Partnership disposed of its interests in Urbplan in a transaction with a third party. The third party acquired operational control and all of the economic interests in Urbplan in the transaction. Since the Partnership is no longer the primary beneficiary of Urbplan, Urbplan was deconsolidated from the Partnership's financial results. The Partnership recorded a pre-tax loss upon deconsolidation of $65 million during the three months ended September 30, 2017 , which includes the impact of deconsolidation, the terms of the transaction with the third party and related reserves. The loss is recorded in interest and other expenses of a real estate VIE and loss on deconsolidation in the unaudited condensed consolidated statements of operations. Excluding the effect of this transaction, Urbplan's income before provision for income taxes prior to the transaction in the three months ended September 30, 2017 was not material to the Partnership's consolidated financial statements. 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. 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 consolidated the financial position and results of operations of Urbplan on a financial reporting lag of 90 days . The assets and liabilities of Urbplan were held in legal entities separate from the Partnership; the Partnership did not guarantee or assume any obligation for repayment of Urbplan’s liabilities nor were the assets of Urbplan available to meet the liquidity requirements of the Partnership. Urbplan is party to various claims, litigation, government investigations and proceedings, including disputes with creditors and customers. The Partnership does not believe it is probable that the outcome of any Urbplan litigation, disputes or other potential claims will materially affect the Partnership or these consolidated financial statements. The assets and liabilities recognized in the Partnership’s condensed consolidated balance sheets as of December 31, 2016 related to Urbplan were as follows: As of December 31, 2016 (Dollars in millions) Receivables and inventory of a real estate VIE: Customer and other receivables $ 99.4 Inventory costs in excess of billings and advances 46.0 $ 145.4 Other assets of a real estate VIE: Restricted investments $ 12.7 Fixed assets, net 0.2 Deferred tax assets 9.1 Other assets 9.5 $ 31.5 Loans payable of a real estate VIE at fair value (principal amount of $144.4 million as of December 31, 2016) $ 79.4 Other liabilities of a real estate VIE: Accounts payable $ 14.6 Other liabilities 109.9 $ 124.5 The revenues and expenses recognized in the Partnership’s unaudited condensed consolidated statements of operations for the nine months ended September 30, 2017 and 2016 related to Urbplan were as follows: Nine Months Ended September 30, 2017 (Dollars in millions) Revenue of a real estate VIE: Land development services $ 104.6 Investment income 4.4 $ 109.0 Interest and other expenses of a real estate VIE: Costs of products sold and services rendered $ 64.4 Interest expense 18.5 Change in fair value of loans payable (6.6 ) Compensation and benefits 2.8 G&A and other expenses 58.9 Loss on deconsolidation 64.5 $ 202.5 Nine Months Ended September 30, 2016 (Dollars in millions) Revenue of a real estate VIE: Land development services $ 35.5 Investment income 26.0 $ 61.5 Interest and other expenses of a real estate VIE: Costs of products sold and services rendered $ 18.9 Interest expense 36.2 Change in fair value of loans payable (2.6 ) Compensation and benefits 5.5 G&A and other expenses 99.9 $ 157.9 The following is a summary of the significant classifications of revenues and expenses of Urbplan: Revenue of a real estate VIE – This balance consisted 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 was not recorded until the period in which the land development services contract is completed. Interest and other expenses of a real estate VIE and loss on deconsolidation – This balance consisted primarily of interest expense on Urbplan’s borrowings, general and administrative expenses, compensation and benefits, costs associated with land development services, and the loss incurred upon the deconsolidation of Urbplan during the three months ended September 30, 2017 . Also included in this caption was 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 were capitalized until the services are complete. Costs associated with advertising, marketing and other selling activities were expensed when incurred.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2017
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. 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. 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. We have now completed the exit of our hedge fund investment advisory and commodities investment advisory businesses. 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 for the three months ended March 31, 2016, Diversified Global Asset Management ("DGAM"). The Partnership wound down the operations of DGAM throughout 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 (through January 2017) and ESG (through June 2016). 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. On January 31, 2017, the Partnership transferred all of its economic interests in Claren Road to its founders (see Note 9). The Partnership’s earnings from its investment in NGP 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 until the three months ended September 30, 2017 when Urbplan was deconsolidated from the Partnership's financial results (See Note15). 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 entities 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 and nine months ended September 30, 2017 : Three Months Ended September 30, 2017 Corporate Real Global Investment Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 118.3 $ 71.4 $ 47.6 $ 41.1 $ 278.4 Portfolio advisory fees, net 3.6 0.4 0.1 — 4.1 Transaction fees, net 5.3 0.8 — — 6.1 Total fund level fee revenues 127.2 72.6 47.7 41.1 288.6 Performance fees Realized 345.4 20.4 15.0 30.2 411.0 Unrealized (193.2 ) 60.8 2.6 4.2 (125.6 ) Total performance fees 152.2 81.2 17.6 34.4 285.4 Investment income (loss) Realized 6.5 (64.6 ) 4.7 — (53.4 ) Unrealized 4.1 12.4 — 1.6 18.1 Total investment income (loss) 10.6 (52.2 ) 4.7 1.6 (35.3 ) Interest income 1.8 1.0 2.0 0.6 5.4 Other income 1.6 0.6 1.1 0.1 3.4 Total revenues 293.4 103.2 73.1 77.8 547.5 Segment Expenses Compensation and benefits Direct base compensation 65.3 24.5 23.0 19.7 132.5 Indirect base compensation 18.3 14.8 6.7 5.0 44.8 Equity-based compensation 14.5 8.7 5.1 2.1 30.4 Performance fee related Realized 147.7 9.2 7.3 29.9 194.1 Unrealized (76.1 ) 21.6 0.8 (2.0 ) (55.7 ) Total compensation and benefits 169.7 78.8 42.9 54.7 346.1 General, administrative, and other indirect expenses 20.5 10.5 (63.6 ) 6.1 (26.5 ) Depreciation and amortization expense 4.1 1.9 1.3 0.9 8.2 Interest expense 7.0 4.2 4.2 1.6 17.0 Total expenses 201.3 95.4 (15.2 ) 63.3 344.8 Economic Net Income $ 92.1 $ 7.8 $ 88.3 $ 14.5 $ 202.7 (-) Net Performance Fees 80.6 50.4 9.5 6.5 147.0 (-) Investment Income (Loss) 10.6 (52.2 ) 4.7 1.6 (35.3 ) (+) Equity-based Compensation 14.5 8.7 5.1 2.1 30.4 (+) Reserve for Litigation and Contingencies (12.5 ) (5.8 ) (4.1 ) (2.6 ) (25.0 ) (=) Fee Related Earnings $ 2.9 $ 12.5 $ 75.1 $ 5.9 $ 96.4 (+) Realized Net Performance Fees 197.7 11.2 7.7 0.3 216.9 (+) Realized Investment Income (Loss) 6.5 (64.6 ) 4.7 — (53.4 ) (=) Distributable Earnings $ 207.1 $ (40.9 ) $ 87.5 $ 6.2 $ 259.9 September 30, 2017 and the Nine Months Then Ended Corporate Real Global Investment Solutions Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 351.7 $ 185.6 $ 140.8 $ 113.1 $ 791.2 Portfolio advisory fees, net 11.9 0.6 0.5 — 13.0 Transaction fees, net 14.2 0.8 — — 15.0 Total fund level fee revenues 377.8 187.0 141.3 113.1 819.2 Performance fees Realized 668.8 73.6 37.8 66.5 846.7 Unrealized 465.0 200.1 15.5 32.1 712.7 Total performance fees 1,133.8 273.7 53.3 98.6 1,559.4 Investment income (loss) Realized 15.6 (72.4 ) 8.6 — (48.2 ) Unrealized 22.9 24.4 4.3 3.1 54.7 Total investment income (loss) 38.5 (48.0 ) 12.9 3.1 6.5 Interest income 3.7 2.0 4.6 0.9 11.2 Other income 4.2 1.3 5.6 0.3 11.4 Total revenues 1,558.0 416.0 217.7 216.0 2,407.7 Segment Expenses Compensation and benefits Direct base compensation 175.4 61.6 55.3 51.9 344.2 Indirect base compensation 55.0 45.6 20.9 11.9 133.4 Equity-based compensation 47.3 26.8 16.9 6.2 97.2 Performance fee related Realized 295.4 33.4 18.2 65.4 412.4 Unrealized 221.1 60.1 6.9 18.4 306.5 Total compensation and benefits 794.2 227.5 118.2 153.8 1,293.7 General, administrative, and other indirect expenses 83.9 52.6 (18.6 ) 21.6 139.5 Depreciation and amortization expense 11.5 5.3 3.8 2.6 23.2 Interest expense 21.1 12.7 10.0 4.6 48.4 Total expenses 910.7 298.1 113.4 182.6 1,504.8 Economic Net Income $ 647.3 $ 117.9 $ 104.3 $ 33.4 $ 902.9 (-) Net Performance Fees 617.3 180.2 28.2 14.8 840.5 (-) Investment Income (Loss) 38.5 (48.0 ) 12.9 3.1 6.5 (+) Equity-based Compensation 47.3 26.8 16.9 6.2 97.2 (+) Reserve for Litigation and Contingencies (12.5 ) (5.8 ) (4.1 ) (2.6 ) (25.0 ) (=) Fee Related Earnings $ 26.3 $ 6.7 $ 76.0 $ 19.1 $ 128.1 (+) Realized Net Performance Fees 373.4 40.2 19.6 1.1 434.3 (+) Realized Investment Income (Loss) 15.6 (72.4 ) 8.6 — (48.2 ) (=) Distributable Earnings $ 415.3 $ (25.5 ) $ 104.2 $ 20.2 $ 514.2 Segment assets as of September 30, 2017 $ 3,472.9 $ 1,861.8 $ 996.5 $ 1,063.4 $ 7,394.6 The following table presents the financial data for the Partnership’s four reportable segments for the three and nine months ended September 30, 2016 : Three Months Ended September 30, 2016 Corporate Real Global Investment Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 122.9 $ 60.3 $ 44.1 $ 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 60.3 44.2 33.9 265.6 Performance fees Realized 311.1 19.2 14.3 36.3 380.9 Unrealized (124.2 ) 2.0 3.1 (6.8 ) (125.9 ) Total performance fees 186.9 21.2 17.4 29.5 255.0 Investment income (loss) Realized 24.1 (14.1 ) 1.1 — 11.1 Unrealized (9.6 ) 4.5 7.1 0.2 2.2 Total investment income (loss) 14.5 (9.6 ) 8.2 0.2 13.3 Interest income 0.9 0.4 1.1 0.1 2.5 Other income 1.3 0.4 1.2 0.2 3.1 Total revenues 330.8 72.7 72.1 63.9 539.5 Segment Expenses Compensation and benefits Direct base compensation 52.7 17.2 20.9 16.3 107.1 Indirect base compensation 17.8 8.9 7.5 2.7 36.9 Equity-based compensation 19.8 7.1 4.4 1.6 32.9 Performance fee related Realized 143.5 8.7 6.6 35.8 194.6 Unrealized (57.8 ) (15.7 ) 1.3 (9.7 ) (81.9 ) Total compensation and benefits 176.0 26.2 40.7 46.7 289.6 General, administrative, and other indirect expenses 81.4 37.2 37.7 17.3 173.6 Depreciation and amortization expense 3.4 1.4 1.5 0.9 7.2 Interest expense 7.0 4.1 3.0 1.5 15.6 Total expenses 267.8 68.9 82.9 66.4 486.0 Economic Net Income (Loss) $ 63.0 $ 3.8 $ (10.8 ) $ (2.5 ) $ 53.5 (-) Net Performance Fees 101.2 28.2 9.5 3.4 142.3 (-) Investment Income (Loss) 14.5 (9.6 ) 8.2 0.2 13.3 (+) Equity-based Compensation 19.8 7.1 4.4 1.6 32.9 (+) Reserve for Litigation and Contingencies 49.8 21.6 19.0 9.6 100.0 (=) Fee Related Earnings $ 16.9 $ 13.9 $ (5.1 ) $ 5.1 $ 30.8 (+) Realized Net Performance Fees 167.6 10.5 7.7 0.5 186.3 (+) Realized Investment Income (Loss) 24.1 (14.1 ) 1.1 — 11.1 (=) Distributable Earnings $ 208.6 $ 10.3 $ 3.7 $ 5.6 $ 228.2 Nine Months Ended September 30, 2016 Corporate Real Global Investment Solutions Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 376.9 $ 192.0 $ 147.4 $ 103.7 $ 820.0 Portfolio advisory fees, net 11.2 0.1 0.7 0.8 12.8 Transaction fees, net 24.3 — — — 24.3 Total fund level fee revenues 412.4 192.1 148.1 104.5 857.1 Performance fees Realized 775.2 79.8 21.5 42.7 919.2 Unrealized (496.2 ) 165.8 4.6 19.9 (305.9 ) Total performance fees 279.0 245.6 26.1 62.6 613.3 Investment income (loss) Realized 46.6 (21.4 ) 2.7 — 27.9 Unrealized (12.7 ) 6.5 14.9 (0.8 ) 7.9 Total investment income (loss) 33.9 (14.9 ) 17.6 (0.8 ) 35.8 Interest income 2.7 1.3 3.7 0.3 8.0 Other income 4.0 1.0 3.5 0.4 8.9 Total revenues 732.0 425.1 199.0 167.0 1,523.1 Segment Expenses Compensation and benefits Direct base compensation 165.8 55.4 66.3 49.9 337.4 Indirect base compensation 55.6 28.2 22.7 8.6 115.1 Equity-based compensation 56.0 20.3 13.8 5.1 95.2 Performance fee related Realized 345.4 34.8 8.1 41.2 429.5 Unrealized (219.9 ) 55.2 2.2 13.3 (149.2 ) Total compensation and benefits 402.9 193.9 113.1 118.1 828.0 General, administrative, and other indirect expenses 144.3 70.7 77.1 34.6 326.7 Depreciation and amortization expense 10.2 4.4 4.6 2.6 21.8 Interest expense 21.2 12.1 8.5 4.5 46.3 Total expenses 578.6 281.1 203.3 159.8 1,222.8 Economic Net Income (Loss) $ 153.4 $ 144.0 $ (4.3 ) $ 7.2 $ 300.3 (-) Net Performance Fees 153.5 155.6 15.8 8.1 333.0 (-) Investment Income (Loss) 33.9 (14.9 ) 17.6 (0.8 ) 35.8 (+) Equity-based Compensation 56.0 20.3 13.8 5.1 95.2 (+) Reserve for Litigation and Contingencies 49.8 21.6 19.0 9.6 100.0 (=) Fee Related Earnings $ 71.8 $ 45.2 $ (4.9 ) $ 14.6 $ 126.7 (+) Realized Net Performance Fees 429.8 45.0 13.4 1.5 489.7 (+) Realized Investment Income (Loss) 46.6 (21.4 ) 2.7 — 27.9 (=) Distributable Earnings $ 548.2 $ 68.8 $ 11.2 $ 16.1 $ 644.3 The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the three months ended September 30, 2017 and 2016 . Three Months Ended September 30, 2017 Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 547.5 $ 44.7 $ 47.7 (a) $ 639.9 Expenses $ 344.8 $ 52.3 $ 95.5 (b) $ 492.6 Other income $ — $ 18.6 $ — (c) $ 18.6 Economic net income $ 202.7 $ 11.0 $ (47.8 ) (d) $ 165.9 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 (loss) $ 53.5 $ 6.6 $ (109.8 ) (d) $ (49.7 ) The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the nine months ended September 30, 2017 and 2016 , and Total Assets as of September 30, 2017 . September 30, 2017 and the Nine Months Then Ended Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 2,407.7 $ 132.6 $ 128.1 (a) $ 2,668.4 Expenses $ 1,504.8 $ 197.2 $ 305.5 (b) $ 2,007.5 Other income $ — $ 76.4 $ — (c) $ 76.4 Economic net income $ 902.9 $ 11.8 $ (177.4 ) (d) $ 737.3 Total assets $ 7,394.6 $ 4,495.5 $ (203.5 ) (e) $ 11,686.6 Nine Months Ended September 30, 2016 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 loss $ — $ 3.1 $ — (c) $ 3.1 Economic net income (loss) $ 300.3 $ 5.0 $ (271.9 ) (d) $ 33.4 (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 until Urbplan was deconsolidated during the three months ended September 30, 2017 , the inclusion of tax expenses associated with certain performance fees, and adjustments to reflect the Partnership’s ownership interests in Claren Road (through January 2017) and ESG (through June 2016) 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 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 until Urbplan was deconsolidated during the three months ended September 30, 2017 , 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 (through January 2017) and ESG (through June 2016), as detailed below (Dollars in millions): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments $ 58.3 $ 50.6 $ 183.8 $ 175.3 Acquisition related charges, including amortization of intangibles and impairment 7.2 27.7 25.2 67.0 Other non-operating expense (income) — (3.7 ) 0.1 0.8 Tax expense associated with performance fees (1.7 ) (2.0 ) (7.0 ) (16.1 ) Non-Carlyle economic interests in acquired businesses and the real estate VIE 46.2 69.4 128.8 120.7 Severance and other adjustments 0.6 1.5 10.9 10.3 Elimination of expenses of Consolidated Funds (15.1 ) (8.9 ) (36.3 ) (18.6 ) $ 95.5 $ 134.6 $ 305.5 $ 339.4 (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, 2017 2016 2017 2016 Income (loss) before provision for income taxes $ 165.9 $ (49.7 ) $ 737.3 $ 33.4 Adjustments: Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments 58.3 50.6 183.8 175.3 Acquisition related charges, including amortization of intangibles and impairment 7.2 27.7 25.2 67.0 Other non-operating expense (income) — (3.7 ) 0.1 0.8 Tax provision associated with performance fees (1.7 ) (2.0 ) (7.0 ) (16.1 ) Net (income) loss attributable to non-controlling interests in consolidated entities (27.6 ) 29.1 (47.4 ) 29.8 Severance and other adjustments 0.6 1.5 10.9 10.1 Economic Net Income $ 202.7 $ 53.5 $ 902.9 $ 300.3 Net performance fees (1) 147.0 142.3 840.5 333.0 Investment income (loss) (1) (35.3 ) 13.3 6.5 35.8 Equity-based compensation 30.4 32.9 97.2 95.2 Reserve for litigation and contingencies (25.0 ) 100.0 (25.0 ) 100.0 Fee Related Earnings $ 96.4 $ 30.8 $ 128.1 $ 126.7 Realized performance fees, net of related compensation 216.9 186.3 434.3 489.7 Realized investment income (loss) (1) (53.4 ) 11.1 (48.2 ) 27.9 Distributable Earnings $ 259.9 $ 228.2 $ 514.2 $ 644.3 (1) See reconciliation to most directly comparable U.S. GAAP measure below: Three Months Ended September 30, 2017 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 411.8 $ (0.8 ) $ 411.0 Unrealized (126.2 ) 0.6 (125.6 ) Total performance fees 285.6 (0.2 ) 285.4 Performance fee related compensation expense Realized 189.4 4.7 194.1 Unrealized (51.8 ) (3.9 ) (55.7 ) Total performance fee related compensation expense 137.6 0.8 138.4 Net performance fees Realized 222.4 (5.5 ) 216.9 Unrealized (74.4 ) 4.5 (69.9 ) Total net performance fees $ 148.0 $ (1.0 ) $ 147.0 Investment income (loss) Realized $ 15.5 $ (68.9 ) $ (53.4 ) Unrealized 21.7 (3.6 ) 18.1 Investment income (loss) $ 37.2 $ (72.5 ) $ (35.3 ) 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 Total investment income (loss) $ 70.5 $ (57.2 ) $ 13.3 Nine Months Ended September 30, 2017 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 852.7 $ (6.0 ) $ 846.7 Unrealized 658.1 54.6 712.7 Total performance fees 1,510.8 48.6 1,559.4 Performance fee related compensation expense Realized 401.9 10.5 412.4 Unrealized 309.9 (3.4 ) 306.5 Total performance fee related compensation expense 711.8 7.1 718.9 Net performance fees Realized 450.8 (16.5 ) 434.3 Unrealized 348.2 58.0 406.2 Total net performance fees $ 799.0 $ 41.5 $ 840.5 Investment income (loss) Realized $ 42.0 $ (90.2 ) $ (48.2 ) Unrealized 100.5 (45.8 ) 54.7 Investment income (loss) $ 142.5 $ (136.0 ) $ 6.5 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 Total investment income (loss) $ 126.2 $ (90.4 ) $ 35.8 (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 until Urbplan was deconsolidated during the three months ended September 30, 2017 . Adjustments are also included in these financial statement captions to reflect the Partnership’s economic interests in Claren Road (through January 2017) and ESG (through June 2016). (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, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In October 2017, the Board of Directors of the general partner of the Partnership declared a quarterly distribution of $0.56 per common unit to common unitholders of record at the close of business on November 10, 2017 , payable on November 16, 2017 . In October 2017, the Board of Directors of the general partner of the Partnership declared a quarterly distribution of $0.375347 per Preferred Unit to preferred unitholders of record at the close of business on December 1, 2017, payable on December 15, 2017. The first distribution on the Preferred Units is calculated based on the date of original issuance. See Note 14 for more information on the preferred units.

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Sep. 30, 2017
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, 2017 and December 31, 2016 and results of operations for the three and nine months ended September 30, 2017 and 2016 . The supplemental statement of cash flows is presented without effects of the Consolidated Funds. As of September 30, 2017 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Assets Cash and cash equivalents $ 1,355.7 $ — $ — $ 1,355.7 Cash and cash equivalents held at Consolidated Funds — 195.4 — 195.4 Restricted cash 9.6 — — 9.6 Corporate treasury investments 117.4 — — 117.4 Accrued performance fees 3,498.6 — — 3,498.6 Investments 1,679.9 — (199.0 ) 1,480.9 Investments of Consolidated Funds — 4,235.8 — 4,235.8 Due from affiliates and other receivables, net 273.3 — (4.5 ) 268.8 Due from affiliates and other receivables of Consolidated Funds, net — 64.3 — 64.3 Fixed assets, net 100.1 — — 100.1 Deposits and other 58.5 — — 58.5 Intangible assets, net 38.0 — — 38.0 Deferred tax assets 263.5 — — 263.5 Total assets $ 7,394.6 $ 4,495.5 $ (203.5 ) $ 11,686.6 Liabilities and partners’ capital Debt obligations $ 1,515.6 $ — $ — $ 1,515.6 Loans payable of Consolidated Funds — 3,794.8 — 3,794.8 Accounts payable, accrued expenses and other liabilities 308.9 — — 308.9 Accrued compensation and benefits 2,175.1 — — 2,175.1 Due to affiliates 264.1 0.2 — 264.3 Deferred revenue 236.0 — — 236.0 Deferred tax liabilities 77.1 — — 77.1 Other liabilities of Consolidated Funds — 507.4 (32.0 ) 475.4 Accrued giveback obligations 67.6 — — 67.6 Total liabilities 4,644.4 4,302.4 (32.0 ) 8,914.8 Series A preferred units 387.6 — — 387.6 Partners’ capital 660.4 46.6 (46.6 ) 660.4 Accumulated other comprehensive loss (68.9 ) 3.0 (3.5 ) (69.4 ) Non-controlling interests in consolidated entities 351.2 23.5 — 374.7 Non-controlling interests in Carlyle Holdings 1,419.9 120.0 (121.4 ) 1,418.5 Total partners’ capital 2,750.2 193.1 (171.5 ) 2,771.8 Total liabilities and partners’ capital $ 7,394.6 $ 4,495.5 $ (203.5 ) $ 11,686.6 As of December 31, 2016 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Assets Cash and cash equivalents $ 670.9 $ — $ — $ 670.9 Cash and cash equivalents held at Consolidated Funds — 761.5 — 761.5 Restricted cash 13.1 — — 13.1 Corporate treasury investments 190.2 — — 190.2 Accrued performance fees 2,481.1 — — 2,481.1 Investments 1,272.2 — (165.2 ) 1,107.0 Investments of Consolidated Funds — 3,893.7 — 3,893.7 Due from affiliates and other receivables, net 231.0 — (3.8 ) 227.2 Due from affiliates and other receivables of Consolidated Funds, net — 29.5 — 29.5 Receivables and inventory of a real estate VIE 145.4 — — 145.4 Fixed assets, net 106.1 — — 106.1 Deposits and other 39.4 — — 39.4 Other assets of a real estate VIE 31.5 — — 31.5 Intangible assets, net 42.0 — — 42.0 Deferred tax assets 234.4 — — 234.4 Total assets $ 5,457.3 $ 4,684.7 $ (169.0 ) $ 9,973.0 Liabilities and partners’ capital Loans payable $ 1,265.2 $ — $ — $ 1,265.2 Loans payable of Consolidated Funds — 3,866.3 — 3,866.3 Loans payable of a real estate VIE at fair value (principal amount of $144.4 million) 79.4 — — 79.4 Accounts payable, accrued expenses and other liabilities 369.8 — — 369.8 Accrued compensation and benefits 1,661.8 — — 1,661.8 Due to affiliates 223.4 0.2 — 223.6 Deferred revenue 54.0 — — 54.0 Deferred tax liabilities 76.6 — — 76.6 Other liabilities of Consolidated Funds — 669.0 (32.0 ) 637.0 Other liabilities of a real estate VIE 124.5 — — 124.5 Accrued giveback obligations 160.8 — — 160.8 Total liabilities 4,015.5 4,535.5 (32.0 ) 8,519.0 Partners’ capital 403.1 36.7 (36.7 ) 403.1 Accumulated other comprehensive income (loss) (94.9 ) (1.5 ) 1.2 (95.2 ) Non-controlling interests in consolidated entities 264.3 13.5 — 277.8 Non-controlling interests in Carlyle Holdings 869.3 100.5 (101.5 ) 868.3 Total partners’ capital 1,441.8 149.2 (137.0 ) 1,454.0 Total liabilities and partners’ capital $ 5,457.3 $ 4,684.7 $ (169.0 ) $ 9,973.0 Three Months Ended September 30, 2017 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 267.5 $ — $ (5.0 ) $ 262.5 Performance fees Realized 412.3 — (0.5 ) 411.8 Unrealized (126.2 ) — — (126.2 ) Total performance fees 286.1 — (0.5 ) 285.6 Investment income Realized 15.4 — 0.1 15.5 Unrealized 26.1 — (4.4 ) 21.7 Investment income 41.5 — (4.3 ) 37.2 Interest and other income 18.0 — (8.1 ) 9.9 Interest and other income of Consolidated Funds — 44.7 — 44.7 Total revenues 613.1 44.7 (17.9 ) 639.9 Expenses Compensation and benefits Base compensation 174.1 — — 174.1 Equity-based compensation 81.0 — — 81.0 Performance fee related Realized 189.4 — — 189.4 Unrealized (51.8 ) — — (51.8 ) Total compensation and benefits 392.7 — — 392.7 General, administrative and other expenses (18.7 ) — — (18.7 ) Interest 16.9 — — 16.9 Interest and other expenses of Consolidated Funds — 52.3 (15.1 ) 37.2 Interest and other expenses of a real estate VIE and loss on deconsolidation 64.5 — — 64.5 Total expenses 455.4 52.3 (15.1 ) 492.6 Other income Net investment gains of Consolidated Funds — 18.6 — 18.6 Income before provision for income taxes 157.7 11.0 (2.8 ) 165.9 Benefit for income taxes (1.3 ) — — (1.3 ) Net income 159.0 11.0 (2.8 ) 167.2 Net income attributable to non-controlling interests in consolidated entities 19.4 — 8.2 27.6 Net income attributable to Carlyle Holdings 139.6 11.0 (11.0 ) 139.6 Net income attributable to non-controlling interests in Carlyle Holdings 95.0 — — 95.0 Net income attributable to The Carlyle Group L.P. $ 44.6 $ 11.0 $ (11.0 ) $ 44.6 Nine Months Ended September 30, 2017 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 761.2 $ — $ (13.6 ) $ 747.6 Performance fees Realized 855.2 — (2.5 ) 852.7 Unrealized 658.1 — — 658.1 Total performance fees 1,513.3 — (2.5 ) 1,510.8 Investment income Realized 42.6 — (0.6 ) 42.0 Unrealized 105.5 — (5.0 ) 100.5 Investment income 148.1 — (5.6 ) 142.5 Interest and other income 44.2 — (18.3 ) 25.9 Interest and other income of Consolidated Funds — 132.6 — 132.6 Revenue of a real estate VIE 109.0 — — 109.0 Total revenues 2,575.8 132.6 (40.0 ) 2,668.4 Expenses Compensation and benefits Base compensation 471.1 — — 471.1 Equity-based compensation 241.8 — — 241.8 Performance fee related Realized 401.9 — — 401.9 Unrealized 309.9 — — 309.9 Total compensation and benefits 1,424.7 — — 1,424.7 General, administrative and other expenses 170.9 — — 170.9 Interest 48.4 — — 48.4 Interest and other expenses of Consolidated Funds — 197.2 (36.3 ) 160.9 Interest and other expenses of a real estate VIE and loss on deconsolidation 202.5 — — 202.5 Other non-operating expenses 0.1 — — 0.1 Total expenses 1,846.6 197.2 (36.3 ) 2,007.5 Other income Net investment gains of Consolidated Funds — 76.4 — 76.4 Income before provision for income taxes 729.2 11.8 (3.7 ) 737.3 Provision for income taxes 17.7 — — 17.7 Net income 711.5 11.8 (3.7 ) 719.6 Net income attributable to non-controlling interests in consolidated entities 39.3 — 8.1 47.4 Net income attributable to Carlyle Holdings 672.2 11.8 (11.8 ) 672.2 Net income attributable to non-controlling interests in Carlyle Holdings 487.0 — — 487.0 Net income attributable to The Carlyle Group L.P. $ 185.2 $ 11.8 $ (11.8 ) $ 185.2 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 Realized 40.3 — 0.4 40.7 Unrealized 43.0 — (13.2 ) 29.8 Total investment income 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 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 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 Total 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 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 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 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 Nine Months Ended September 30, 2017 2016 (Dollars in millions) Cash flows from operating activities Net income $ 711.5 $ 0.6 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 30.9 52.6 Equity-based compensation 241.8 265.8 Non-cash performance fees (561.5 ) 108.0 Other non-cash amounts (8.2 ) (19.2 ) Investment income (129.5 ) (135.8 ) Purchases of investments (445.0 ) (262.7 ) Proceeds from the sale of investments 302.7 236.7 Payments of contingent consideration (22.5 ) (82.6 ) Deconsolidation of Claren Road (see Note 9) (23.3 ) — Deconsolidation of Urbplan (see Note 15) 14.0 — Change in deferred taxes, net (8.7 ) 3.7 Change in due from affiliates and other receivables (78.8 ) 0.7 Change in receivables and inventory of a real estate VIE (14.5 ) 45.1 Change in deposits and other (7.1 ) 6.0 Change in other assets of a real estate VIE 1.6 33.1 Change in accounts payable, accrued expenses and other liabilities 1.9 71.8 Change in accrued compensation and benefits 42.2 32.4 Change in due to affiliates 15.0 (22.4 ) Change in other liabilities of a real estate VIE 47.9 (1.2 ) Change in deferred revenue 178.6 154.9 Net cash provided by operating activities 289.0 487.5 Cash flows from investing activities Change in restricted cash 3.6 1.8 Purchases of fixed assets, net (26.0 ) (13.3 ) Net cash used in investing activities (22.4 ) (11.5 ) Cash flows from financing activities Proceeds from issuance of preferred units 387.6 — Borrowings under credit facility 250.0 — Repayments under credit facility (250.0 ) — Payments on debt obligations (15.0 ) — Proceeds from debt obligations 202.6 20.6 Net payments on loans payable of a real estate VIE (14.3 ) (27.3 ) Payments of contingent consideration (0.4 ) (3.3 ) Distributions to common unitholders (63.0 ) (98.5 ) Distributions to non-controlling interest holders in Carlyle Holdings (163.1 ) (300.9 ) Contributions from non-controlling interest holders 87.7 75.3 Distributions to non-controlling interest holders (74.0 ) (85.5 ) Common units repurchased (0.2 ) (53.6 ) Change in due to/from affiliates financing activities 38.5 49.5 Net cash provided by (used in) financing activities 386.4 (423.7 ) Effect of foreign exchange rate changes 31.8 (0.5 ) Increase in cash and cash equivalents 684.8 51.8 Cash and cash equivalents, beginning of period 670.9 991.5 Cash and cash equivalents, end of period $ 1,355.7 $ 1,043.3

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
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. 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 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, 2017 , assets and liabilities of the consolidated VIEs reflected in the unaudited condensed consolidated balance sheets were $4.5 billion and $4.3 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, 2017 , the Partnership held $191.6 million of investments in these consolidated 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.
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.
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 closed-end carry funds in the Corporate Private Equity, Real Assets and Global Market Strategies segments, management fees generally range from 1.0% to 2.0% of commitments during the fund's investment period based on limited partners' capital commitments to the funds. Following the expiration or termination of the investment period, management fees generally are based on the lower of cost or fair value of invested capital and the rate charged may also be reduced to between 0.6% and 2.0% . For certain managed accounts and longer-dated carry funds, with expected terms greater than ten years , management fees generally range from 0.2% to 1.0% based on contributions for unrealized investments or the current value of the investment. The Partnership will receive management fees 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 longer-dated carry funds, management fees are called quarterly over the life of the funds. Within the Global Market Strategies segment, for CLOs and other structured products, management fees generally range from 0.3% to 0.6% based on the total par amounts 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 and other 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. 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 Partnership's private equity and real estate carry fund vehicles in the Investment Solutions segment generally range from 0.25% to 1.0% of 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 0.25% to 1.0% of 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 Investment Solutions carry fund vehicles 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 $10.2 million and $5.2 million for the three months ended September 30, 2017 and 2016 , respectively, and $28.0 million and $37.1 million for the nine months ended September 30, 2017 and 2016 , 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). For closed-end carry funds in the Corporate Private Equity, Real Assets and Global Market Strategies segments, the Partnership is generally entitled to a 20% allocation (or 10% to 20% on certain longer-dated carry funds and external co-investment vehicles, or approximately 2% to 10% in the majority of the Investment Solutions segment carry fund 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). 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, 2017 and December 31, 2016 , the Partnership has recognized $67.6 million and $160.8 million , respectively, for giveback obligations. The Partnership is also entitled to receive performance fees pursuant to management contracts from certain of its Global Market Strategies funds 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 unaudited 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, including CLOs. 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, as it relates to its investments in NGP (see Note 5). 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 unaudited 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. The compensation expense for awards that do not require future service is recognized immediately. 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 generally recognized as general, administrative and other expenses, except to the extent they are recognized as part of our equity method earnings because they are issued to employees of our equity method investees. 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 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. On January 1, 2017, the Partnership adopted ASU 2016-9, Compensation - Stock Compensation (Topic 718) . In accordance with ASU 2016-9, the Partnership elected to recognize equity-based award forfeitures in the period they occur as a reversal of previously recognized compensation expense. The reduction in compensation expense is determined based on the specific awards forfeited during that period. Furthermore, the Partnership is required to recognize prospectively all excess tax benefits and deficiencies as income tax benefit or expense in the statement of operations. 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 unaudited 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 unaudited 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. 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 unaudited 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 and Corporate Treasury Investments	Corporate Treasury Investments Corporate treasury investments represent investments in U.S. Treasury and government agency obligations, commercial paper, certificates of deposit, other investment grade securities and other investments with original maturities of greater than three months when purchased. These investments are accounted for as trading securities in which changes in the fair value of each investment are recorded through investment income (loss). Any interest earned on debt investments is recorded through interest and other income. 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 unaudited condensed consolidated financial statements), and (iv) investments in the CLOs and certain credit-oriented investments (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 primarily represents cash held by the Partnership’s foreign subsidiaries due to certain government regulatory capital requirements.
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 unaudited condensed consolidated balance sheets with changes in fair value recognized in the unaudited condensed consolidated statements of operations for all derivatives not designated as hedging instruments.
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. 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 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 unaudited condensed consolidated statements of operations are translated at rates of exchange in effect throughout the period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815) - Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12, among other things, permits hedge accounting for risk components in hedging relationships to now involve nonfinancial risk components and requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedge item is reported. The guidance is effective for the Partnership on January 1, 2019 and requires cash flow hedges and net investment hedges existing at the date of adoption to apply a cumulative effect adjustment to eliminate the measurement of ineffectiveness to accumulated other comprehensive income with a corresponding adjustment to the opening balance of partners’ capital as of the beginning of the fiscal year that an entity adopts the guidance. The amended presentation and disclosure guidance is required only prospectively. Early adoption is permitted. While the Partnership is still assessing the guidance in ASU 2017-12, it does not expect the impact of this guidance to be material. In January 2017, the FASB issued ASU 2017-1, Business Combinations (Topic 805) - Clarifying the Definition of a Business . ASU 2017-01 changes the criteria for determining whether a group of assets acquired is a business. Specifically, when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the assets acquired would not be considered a business. The guidance is effective for the Partnership on January 1, 2018 and is required to be applied prospectively, however, early adoption is permitted. This guidance will impact the Partnership's analysis of the accounting for any future acquisitions occurring after the date of adoption. In January 2017, the FASB issued ASU 2017-4, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment . ASU 2017-04 simplifies an entity’s annual goodwill test for impairment by eliminating the requirement to calculate the implied fair value of goodwill, and instead an entity should compare the fair value of a reporting unit with its carrying amount. The impairment charge will then be the amount by which the carrying amount exceeds the reporting unit’s fair value. An entity would still have the option to perform a qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The guidance is effective for the Partnership on January 1, 2020 and requires the guidance to be applied using a prospective transition method. Early adoption is permitted. The Partnership does not expect the impact of this guidance to be material. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) - Restricted Cash . ASU 2016-18 clarifies the presentation of restricted cash in the statement of cash flows by requiring the amounts described as restricted cash be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. If cash and cash equivalents and restricted cash are presented separately on the statement of financial position, a reconciliation of these separate line items to the total cash amount included in the statement of cash flows will be required either in the footnotes or on the face of the statement of cash flows. The guidance is effective for the Partnership on January 1, 2018 and ASU 2016-18 requires the guidance to be applied using a retrospective transition method. Early adoption is permitted; however, the Partnership expects to reflect this change in presentation of restricted cash in its first quarter 2018 condensed consolidated financial statements. 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. Previously, an entity was required to determine for each award whether the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes resulted in either an excess tax benefit or a tax deficiency. Excess tax benefits were recognized in partners’ capital, while tax deficiencies were 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 previous equity-based compensation guidance required 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 guidance was effective for the Partnership on January 1, 2017. The Partnership adopted this guidance on that date by recording an adjustment for the cumulative effect of adoption in partners' capital on January 1, 2017. The impact of the adjustment was not material to total partners' capital. 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. The FASB issued ASU 2014-9, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-9”) in May 2014 and subsequently issued several amendments to the standard. ASU 2014-9, and related amendments, provide 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, and the related amendments, is effective for the Partnership beginning on January 1, 2018, and the Partnership plans to adopt this guidance on that date. Upon adoption of ASU 2014-9, performance fees that represent a performance-based capital allocation from fund limited partners to the Partnership (commonly known as “carried interest”, which comprised over 80% of the Partnership's performance fee revenues for each of the years ended December 31, 2016, 2015 and 2014) will be accounted for as earnings from financial assets within the scope of ASC 323, Investments - Equity Method and Joint Ventures , and therefore will not be in the scope of ASU 2014-9. In accordance with ASC 323, the Partnership will record equity method income (losses) as a component of investment income based on the change in our proportionate claim on net assets of the investment fund, including performance-based capital allocations, assuming the investment fund was liquidated as of each reporting date pursuant to each fund's governing agreements. The Partnership will apply this change in accounting on a full retrospective basis. This change in accounting will result in a reclassification from performance fee revenues to investment income (losses). The Partnership is currently in the process of implementing ASU 2014-9 and its related amendments. The Partnership does not expect significant changes to our historical pattern of recognizing revenue for management fees and performance fees (both for arrangements within the scope of ASC 323 and arrangements within the scope of ASU 2014-9). Additionally, while the determination of who is the customer in a contractual arrangement will be made on a contract-by-contract basis, the Partnership expects that the customer will generally be the investment fund for our significant management and advisory contracts. The Partnership is still, however, evaluating its method of adoption for ASU 2014-9 and how ASU 2014-9 and its related amendments will impact principal versus agent considerations, which would affect whether certain transactions are reported gross or net in the consolidated statement of operations.
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 Accoun26

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule of assets recognized and Partnership's maximum exposure to loss	The assets recognized in the Partnership’s unaudited 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, 2017 December 31, 2016 (Dollars in millions) Investments $ 828.5 $ 664.2 Due from affiliates, net — 1.8 Maximum Exposure to Loss $ 828.5 $ 666.0
Components of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive income (loss) as of September 30, 2017 and December 31, 2016 were as follows: As of September 30, 2017 December 31, 2016 (Dollars in millions) Currency translation adjustments $ (65.4 ) $ (91.7 ) Unrealized losses on defined benefit plans (4.0 ) (3.5 ) Total $ (69.4 ) $ (95.2 )

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 : (Dollars in millions) Level I Level II Level III Total Assets Investments of Consolidated Funds: Equity securities $ — $ — $ 26.8 $ 26.8 Bonds — — 347.0 347.0 Loans — — 3,861.7 3,861.7 Other — — 0.3 0.3 — — 4,235.8 4,235.8 Investments in CLOs and other — — 322.7 322.7 Corporate treasury investments Bonds — 87.6 — 87.6 Commercial paper and other — 29.8 — 29.8 — 117.4 — 117.4 Foreign currency forward contracts — 0.3 — 0.3 Total $ — $ 117.7 $ 4,558.5 $ 4,676.2 Liabilities Loans payable of Consolidated Funds (1) $ — $ — $ 3,794.8 $ 3,794.8 Contingent consideration (2) — — 1.3 1.3 Foreign currency forward contracts — 3.9 — 3.9 Total $ — $ 3.9 $ 3,796.1 $ 3,800.0 (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 consideration associated with the Partnership's acquisitions, excluding employment-based contingent consideration. 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, 2016 : (Dollars in millions) Level I Level II Level III Total Assets Investments of Consolidated Funds: Equity securities $ — $ — $ 10.3 $ 10.3 Bonds — — 396.4 396.4 Loans — — 3,485.6 3,485.6 Other — — 1.4 1.4 — — 3,893.7 3,893.7 Investments in CLOs and other — — 152.6 152.6 Corporate treasury investments Bonds — 91.3 — 91.3 Commercial paper and other — 98.9 — 98.9 — 190.2 — 190.2 Foreign currency forward contracts — 2.5 — 2.5 Total $ — $ 192.7 $ 4,046.3 $ 4,239.0 Liabilities Loans payable of Consolidated Funds (1) $ — $ — $ 3,866.3 $ 3,866.3 Contingent consideration (2) — — 1.5 1.5 Loans payable of a real estate VIE — — 79.4 79.4 Foreign currency forward contracts — 10.0 — 10.0 Total $ — $ 10.0 $ 3,947.2 $ 3,957.2 (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 consideration associated with the Partnership's acquisitions, excluding employment-based contingent consideration.
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, 2017 Investments of Consolidated Funds Equity Bonds Loans Other Investments in CLOs and other Total Balance, beginning of period $ 9.7 $ 395.9 $ 3,500.1 $ 2.0 $ 222.9 $ 4,130.6 Purchases 0.1 15.5 599.3 — 114.0 728.9 Sales and distributions — (71.2 ) (98.3 ) (3.1 ) (20.5 ) (193.1 ) Settlements — — (216.3 ) — — (216.3 ) Realized and unrealized gains (losses), net Included in earnings 16.8 (7.4 ) (9.6 ) 1.3 0.4 1.5 Included in other comprehensive income 0.2 14.2 86.5 0.1 5.9 106.9 Balance, end of period $ 26.8 $ 347.0 $ 3,861.7 $ 0.3 $ 322.7 $ 4,558.5 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ 16.8 $ (5.6 ) $ 0.8 $ 0.1 $ 1.3 $ 13.4 Financial Assets Nine Months Ended September 30, 2017 Investments of Consolidated Funds Equity Bonds Loans Other Investments in CLOs and other Total Balance, beginning of period $ 10.3 $ 396.4 $ 3,485.6 $ 1.4 $ 152.6 $ 4,046.3 Purchases 0.1 132.3 1,997.4 — 174.8 2,304.6 Sales and distributions (1.6 ) (227.5 ) (1,101.8 ) (3.0 ) (23.6 ) (1,357.5 ) Settlements — — (801.7 ) — — (801.7 ) Realized and unrealized gains (losses), net Included in earnings 17.1 (1.7 ) 16.3 1.7 6.5 39.9 Included in other comprehensive income 0.9 47.5 265.9 0.2 12.4 326.9 Balance, end of period $ 26.8 $ 347.0 $ 3,861.7 $ 0.3 $ 322.7 $ 4,558.5 Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date $ 22.1 $ 0.8 $ 22.5 $ 0.1 $ 7.4 $ 52.9 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 and distributions 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 (losses) included in earnings related to financial assets still held at the reporting date $ (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 securities of Consolidated Funds 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 and distributions (5.1 ) (103.6 ) (249.9 ) — — (6.4 ) — (365.0 ) Settlements — — (516.9 ) — — — — (516.9 ) Realized and unrealized gains (losses), net 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 (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.
Changes in financial liabilities measured at fair value for which the Partnership has used Level III inputs	Financial Liabilities Three Months Ended September 30, 2017 Loans Payable Contingent Loans Payable of Total Balance, beginning of period $ 3,721.2 $ 1.3 $ 72.6 $ 3,795.1 Paydowns (2.3 ) — — (2.3 ) Deconsolidation of a real estate VIE — — (72.6 ) (72.6 ) Realized and unrealized (gains) losses, net Included in earnings (21.1 ) — — (21.1 ) Included in other comprehensive income 97.0 — — 97.0 Balance, end of period $ 3,794.8 $ 1.3 $ — $ 3,796.1 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ (24.1 ) $ — $ — $ (24.1 ) Financial Liabilities Nine Months Ended September 30, 2017 Loans Payable Contingent Loans Payable of Total Balance, beginning of period $ 3,866.3 $ 1.5 $ 79.4 $ 3,947.2 Borrowings 1,569.0 — — 1,569.0 Paydowns (1,881.7 ) (0.4 ) (14.3 ) (1,896.4 ) Deconsolidation of a real estate VIE — — (72.6 ) (72.6 ) Realized and unrealized (gains) losses, net Included in earnings (49.4 ) 0.1 3.3 (46.0 ) Included in other comprehensive income 290.6 0.1 4.2 294.9 Balance, end of period $ 3,794.8 $ 1.3 $ — $ 3,796.1 Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date $ (53.6 ) $ 0.1 $ — $ (53.5 ) Financial Liabilities Three Months Ended September 30, 2016 Loans Payable Derivative Contingent Loans Payable of a real estate VIE 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 a real estate VIE 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
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, 2017 : Fair Value at Valuation Technique(s) Unobservable Input(s) Range (Dollars in millions) September 30, 2017 Assets Investments of Consolidated Funds: Equity securities $ 24.9 Discounted Cash Flow Discount Rates 6% - 10% (6%) Exit Cap Rate 7% - 10% (7%) 1.9 Consensus Pricing Indicative Quotes ($ per share) 28 - 28 (28) Bonds 347.0 Consensus Pricing Indicative Quotes (% of Par) 65 - 110 (99) Loans 3,861.7 Consensus Pricing Indicative Quotes (% of Par) 49 - 102 (100) Other 0.3 Counterparty Pricing Indicative Quotes 11 - 11 (11) 4,235.8 Investments in CLOs and other: Senior secured notes 275.8 Discounted Cash Flow with Consensus Pricing Discount Rates 1% - 9% (3%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 70% (60%) Indicative Quotes (% of Par) 95 - 102 (100) Subordinated notes and preferred shares 44.0 Discounted Cash Flow with Consensus Pricing Discount Rates 8% - 10% (9%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 70% (60%) Indicative Quotes (% of Par) 71 - 97 (87) Other 2.9 Comparable Multiple LTM EBITDA Multiple 6.3x - 6.3x (6.3x) Total $ 4,558.5 Liabilities Loans payable of Consolidated Funds: Senior secured notes (1) $ 3,621.3 Other N/A N/A Subordinated notes and preferred shares (1) 27.3 Other N/A N/A 146.2 Discounted Cash Flow with Consensus Pricing Discount Rates 8% - 10% (9%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 70% (60%) Indicative Quotes (% of Par) 79 - 94 (86) Contingent consideration (2) 1.3 Other N/A N/A Total $ 3,796.1 (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) Relates to contingent consideration associated with the Partnership's acquisitions. The following table summarizes quantitative information about the Partnership’s Level III inputs as of December 31, 2016 : Fair Value at Valuation Technique(s) Unobservable Input(s) Range (Dollars in millions) December 31, 2016 Assets Investments of Consolidated Funds: Equity securities $ 9.6 Discounted Cash Flow Discount Rates 9% - 10% (9%) Exit Cap Rate 7% - 9% (7%) 0.7 Consensus Pricing Indicative Quotes ($ per share) 10 - 10 (10) Bonds 396.4 Consensus Pricing Indicative Quotes (% of Par) 74 - 108 (99) Loans 3,485.6 Consensus Pricing Indicative Quotes (% of Par) 31 - 102 (99) Other 1.4 Counterparty Pricing Indicative Quotes 6 - 8 (7) 3,893.7 Investments in CLOs and other Senior secured notes 115.9 Discounted Cash Flow with Consensus Pricing Discount Rate 1% - 11% (2%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 74% (71%) Indicative Quotes (% of Par) 82 - 102 (99) Subordinated notes and preferred shares 35.4 Discounted Cash Flow with Consensus Pricing Discount Rate 9% - 14% (12%) Default Rates 1% - 10% (2%) Recovery Rates 50% - 74% (64%) Indicative Quotes (% of Par) 2 - 101 (96) Other 1.3 Comparable Multiple LTM EBITDA Multiple 5.7 x - 5.7x (5.7x) Total $ 4,046.3 Liabilities Loans payable of Consolidated Funds: Senior secured notes (1) $ 3,672.5 Other N/A N/A Subordinated notes and preferred shares (1) 26.9 Other N/A N/A 166.9 Discounted Cash Flow with Consensus Pricing Discount Rates 9% - 14% (12%) Default Rates 1% - 3% (2%) Recovery Rates 50% - 74% (66%) Indicative Quotes (% of Par) 7 - 90 (68) Loans payable of a real estate VIE 79.4 Discounted Cash Flow Discount to Expected Payment 10% - 55% (37%) Discount Rate 20% - 30% (23%) Contingent consideration (2) 1.5 Other N/A N/A Total $ 3,947.2 (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 CLOs and the beneficial interests held by the Partnership. (2) Relates to contingent consideration associated with the Partnership's acquisitions.

Accrued Performance Fees (Table

Accrued Performance Fees (Tables)	9 Months Ended
	Sep. 30, 2017
Deferred Costs [Abstract]
Components of accrued performance fees	The components of accrued performance fees are as follows: As of September 30, 2017 December 31, 2016 (Dollars in millions) Corporate Private Equity $ 2,130.9 $ 1,375.4 Real Assets 624.3 483.4 Global Market Strategies 84.9 68.6 Investment Solutions 658.5 553.7 Total $ 3,498.6 $ 2,481.1
Components of accrued giveback obligations	The components of the accrued giveback obligations are as follows: As of September 30, 2017 December 31, 2016 (Dollars in millions) Corporate Private Equity $ (9.8 ) $ (3.9 ) Real Assets (57.8 ) (156.9 ) Total $ (67.6 ) $ (160.8 )
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 September 30, 2017 2016 2017 2016 (Dollars in millions) Corporate Private Equity $ 159.6 $ 186.5 $ 1,147.4 $ 283.0 Real Assets 74.5 (19.1 ) 214.0 198.6 Global Market Strategies 17.2 17.8 50.8 26.8 Investment Solutions 34.3 29.5 98.6 62.4 Total $ 285.6 $ 214.7 $ 1,510.8 $ 570.8

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Schedule of investments	Investments consist of the following: As of September 30, 2017 December 31, 2016 (Dollars in millions) Equity method investments, excluding accrued performance fees $ 1,157.7 $ 950.9 Investments in CLOs and other 323.2 156.1 Total investments $ 1,480.9 $ 1,107.0
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, 2017 and 2016 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in millions) Management fees $ 21.3 $ 20.9 $ 58.9 $ 62.1 Performance fees 7.4 37.9 62.7 47.6 Investment income 1.6 6.4 7.8 10.8 Expenses (10.6 ) (4.1 ) (46.2 ) (10.7 ) Amortization of basis differences (2.1 ) (13.8 ) (6.4 ) (41.4 ) Net investment income $ 17.6 $ 47.3 $ 76.8 $ 68.4
Schedule of equity method investments	The Partnership’s equity method investments include its fund investments in Corporate Private Equity, Real Assets, Global Market Strategies, and Investment Solutions, typically as general partner interests, and its strategic investments in NGP (included within Real Assets), which are not consolidated. Investments are related to the following segments: As of September 30, 2017 December 31, 2016 (Dollars in millions) Corporate Private Equity $ 370.3 $ 282.4 Real Assets 729.7 622.8 Global Market Strategies 19.7 20.1 Investment Solutions 38.0 25.6 Total $ 1,157.7 $ 950.9
Components of investment income (loss)	The components of investment income (loss) are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in millions) Income from equity investments $ 35.9 $ 65.9 $ 140.2 $ 116.3 Income from investments in CLOs and other investments 1.3 4.6 2.3 9.6 Other investment income — — — 0.3 Total $ 37.2 $ 70.5 $ 142.5 $ 126.2
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, 2017 2016 2017 2016 (Dollars in millions) Corporate Private Equity $ 8.8 $ 13.5 $ 38.4 $ 32.0 Real Assets 24.1 52.5 95.7 89.9 Global Market Strategies — (0.5 ) 0.6 (5.5 ) Investment Solutions 3.0 0.4 5.5 (0.1 ) Total $ 35.9 $ 65.9 $ 140.2 $ 116.3
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, 2017 2016 2017 2016 (Dollars in millions) Interest income from investments $ 41.8 $ 40.0 $ 124.1 $ 101.6 Other income 2.9 3.0 8.5 6.2 Total $ 44.7 $ 43.0 $ 132.6 $ 107.8
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, 2017 2016 2017 2016 (Dollars in millions) Gains (losses) from investments of Consolidated Funds $ (2.5 ) $ 18.6 $ 27.1 $ 45.0 Gains (losses) from liabilities of CLOs 21.1 (15.9 ) 49.3 (43.8 ) Gains on other assets of CLOs — 2.1 — 1.9 Total $ 18.6 $ 4.8 $ 76.4 $ 3.1
Schedule of realized and unrealized gains (losses) earned from investments of consolidated funds	The following table presents realized and unrealized gains (losses) earned from investments of the Consolidated Funds: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in millions) Realized losses $ (3.3 ) $ — $ (9.1 ) $ (9.6 ) Net change in unrealized gains 0.8 18.6 36.2 54.6 Total $ (2.5 ) $ 18.6 $ 27.1 $ 45.0

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 and December 31, 2016 : As of September 30, 2017 December 31, 2016 (Dollars in millions) Acquired contractual rights (1) $ 80.3 $ 74.1 Acquired trademarks (1) 1.2 1.0 Accumulated amortization (54.5 ) (43.2 ) Finite-lived intangible assets, net 27.0 31.9 Goodwill (1) 11.0 10.1 Intangible assets, net $ 38.0 $ 42.0 (1) Changes in the carrying amount of acquired contractual rights, acquired trademarks, and goodwill are due to foreign currency translation.
Summary of expected amortization expense	The following table summarizes the expected amortization expense for October 1, 2017 through December 31, 2021 (Dollars in millions): 2017 $ 2.6 2018 9.6 2019 5.9 2020 5.9 2021 3.0 $ 27.0

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2017
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): September 30, 2017 December 31, 2016 Borrowing Carrying Borrowing Carrying Senior Credit Facility Term Loan Due 5/05/2020 $ 25.0 $ 24.8 $ 25.0 $ 24.7 CLO Term Loans (See below) 229.9 229.9 33.8 33.8 3.875% Senior Notes Due 2/01/2023 500.0 497.5 500.0 497.2 5.625% Senior Notes Due 3/30/2043 600.0 600.7 600.0 600.7 Promissory Note Due 1/01/2022 108.8 108.8 108.8 108.8 Promissory Notes Due 7/15/2019 53.9 53.9 — — Total debt obligations $ 1,517.6 $ 1,515.6 $ 1,267.6 $ 1,265.2
Summary of borrowings outstanding, including preferred shares classified as liabilities	As of September 30, 2017 and December 31, 2016 , the following borrowings were outstanding, which includes preferred shares classified as liabilities (Dollars in millions): As of September 30, 2017 Borrowing Fair Value Weighted Weighted Senior secured notes $ 3,631.2 $ 3,621.3 2.24 % 11.49 Subordinated notes, preferred shares and other 174.8 173.5 N/A (a) 9.79 Total $ 3,806.0 $ 3,794.8 As of December 31, 2016 Borrowing Fair Value Weighted Weighted Senior secured notes $ 3,681.0 $ 3,672.5 2.45 % 10.22 Subordinated notes, preferred shares and other 195.6 193.8 N/A (a) 9.26 Total $ 3,876.6 $ 3,866.3 (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.
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 Outstanding Borrowing Outstanding Maturity Date (1) Interest Rate as of October 3, 2013 $ — (2) $ 13.2 (2) September 28, 2018 NA (3) June 7, 2016 20.6 20.6 July 15, 2027 3.10% (4) February 28, 2017 73.0 — September 21, 2029 2.33% (5) April 19, 2017 22.8 — April 22, 2031 3.24% (6) (12) June 28, 2017 23.1 — July 22, 2031 3.25% (7) (12) July 20, 2017 24.4 — April 21, 2027 2.84% (8) (12) August 2, 2017 22.8 — July 23, 2029 3.10% (9) (12) August 2, 2017 20.6 — August 3, 2022 1.75% (10) August 14, 2017 22.6 — August 15, 2030 3.16% (11) (12) $ 229.9 $ 33.8 (1) Maturity date is earlier of date indicated or the date that the CLO is dissolved. (2) Original borrowing of €12.6 million . (3) Note paid off in the third quarter of 2017. (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, 2017 and 2016 . (5) Original borrowing of €61.8 million ; incurs interest at EURIBOR plus applicable margins as defined in the agreement. (6) Incurs interest at LIBOR plus 1.932% . (7) Incurs interest at LIBOR plus 1.923% . (8) Incurs interest at LIBOR plus 1.536% . (9) Incurs interest at LIBOR plus 1.808% . (10) Original borrowing of €17.4 million ; incurs interest at LIBOR plus 1.75% and has full recourse to the Partnership. (11) Incurs interest at LIBOR plus 1.848% . (12) Term loan issued under master credit agreement.

Accrued Compensation and Bene32

Accrued Compensation and Benefits (Tables)	9 Months Ended
	Sep. 30, 2017
Compensation and Retirement Disclosure [Abstract]
Summary of accrued compensation and benefits	Accrued compensation and benefits consist of the following: As of September 30, 2017 December 31, 2016 (Dollars in millions) Accrued performance fee-related compensation $ 1,803.9 $ 1,307.4 Accrued bonuses 261.2 177.2 Other 110.0 177.2 Total $ 2,175.1 $ 1,661.8

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 (Dollars in millions): Unfunded Corporate Private Equity $ 1,190.1 Real Assets 900.6 Global Market Strategies 573.9 Investment Solutions 165.5 Total $ 2,830.1
Future minimum commitments for leases	The future minimum commitments for the leases are as follows (Dollars in millions): 2017 $ 12.6 2018 48.1 2019 47.9 2020 47.4 2021 43.0 Thereafter 334.6 $ 533.6

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 and December 31, 2016 : As of September 30, 2017 December 31, 2016 (Dollars in millions) Unbilled receivable for giveback obligations from current and former employees $ 3.4 $ 5.6 Notes receivable and accrued interest from affiliates 16.8 37.6 Other receivables from unconsolidated funds and affiliates, net 248.6 184.0 Total $ 268.8 $ 227.2
Amounts due to affiliates	The Partnership had the following due to affiliates balances at September 30, 2017 and December 31, 2016 : As of September 30, 2017 December 31, 2016 (Dollars in millions) Due to affiliates of Consolidated Funds $ 0.2 $ 0.2 Due to non-consolidated affiliates 54.2 29.7 Performance-based contingent cash consideration related to acquisitions 34.3 36.1 Amounts owed under the tax receivable agreement 155.9 137.8 Other 19.7 19.8 Total $ 264.3 $ 223.6

Non-controlling Interests in 35

Non-controlling Interests in Consolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 December 31, 2016 (Dollars in millions) Non-Carlyle interests in Consolidated Funds $ 23.5 $ 13.5 Non-Carlyle interests in majority-owned subsidiaries 349.0 331.7 Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions 2.2 (67.4 ) Non-controlling interests in consolidated entities $ 374.7 $ 277.8
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 September 30, 2017 2016 2017 2016 (Dollars in millions) Non-Carlyle interests in Consolidated Funds $ 8.2 $ (1.2 ) $ 8.1 $ 0.2 Non-Carlyle interests in majority-owned subsidiaries 11.0 (24.7 ) 22.5 (21.6 ) Non-controlling interest in carried interest, giveback obligations and cash held for carried interest distributions 8.4 (3.4 ) 16.8 (8.5 ) Net income (loss) attributable to other non-controlling interests in consolidated entities 27.6 (29.3 ) 47.4 (29.9 ) Net loss attributable to redeemable non-controlling interests in consolidated entities — 0.2 — 0.1 Non-controlling interests in income (loss) of consolidated entities $ 27.6 $ (29.1 ) $ 47.4 $ (29.8 )

Earnings Per Common Unit (Table

Earnings Per Common Unit (Tables)	9 Months Ended
	Sep. 30, 2017
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 September 30, 2017 Nine Months Ended Basic Diluted Basic Diluted Net income attributable to The Carlyle Group L.P. $ 44,600,000 $ 44,600,000 $ 185,200,000 $ 185,200,000 Incremental net income from assumed exchange of Carlyle Holdings partnership units — 97,800,000 — — Net income attributable to common units $ 44,600,000 $ 142,400,000 $ 185,200,000 $ 185,200,000 Weighted-average common units outstanding 95,198,102 334,392,424 89,815,112 97,538,190 Net income per common unit $ 0.47 $ 0.43 $ 2.06 $ 1.90 Three Months Ended September 30, 2016 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 income (loss) 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
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 September 30, 2017 Nine Months Ended Basic Diluted Basic Diluted The Carlyle Group L.P. weighted-average common units outstanding 95,198,102 95,198,102 89,815,112 89,815,112 Unvested deferred restricted common units — 7,756,460 — 7,125,134 Issuable Carlyle Holdings Partnership units — 597,944 — 597,944 Weighted-average vested Carlyle Holdings Partnership units — 228,839,164 — — Unvested Carlyle Holdings Partnership units — 2,000,754 — — Weighted-average common units outstanding 95,198,102 334,392,424 89,815,112 97,538,190 Three Months Ended September 30, 2016 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

Equity and Equity-Based Compe37

Equity and Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 and a summary of changes for the nine months ended September 30, 2017 , 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, 2016 17,240,000 $ 22.22 16,705,920 $ 19.21 38,911 $ 21.67 2,520 $ 34.81 Granted — $ — 8,226,461 $ 14.14 — $ — — $ — Vested 8,145,924 $ 22.22 8,288,838 $ 19.67 31,129 $ 21.53 2,520 $ 34.81 Forfeited 437,314 $ 22.22 453,461 $ 20.22 — $ — — $ — Balance, September 30, 2017 8,656,762 $ 22.00 16,190,082 $ 16.77 7,782 $ 22.22 — $ —

Deconsolidation of a Real Est38

Deconsolidation of a Real Estate Development Company (Tables)	9 Months Ended
	Sep. 30, 2017
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 December 31, 2016 related to Urbplan were as follows: As of December 31, 2016 (Dollars in millions) Receivables and inventory of a real estate VIE: Customer and other receivables $ 99.4 Inventory costs in excess of billings and advances 46.0 $ 145.4 Other assets of a real estate VIE: Restricted investments $ 12.7 Fixed assets, net 0.2 Deferred tax assets 9.1 Other assets 9.5 $ 31.5 Loans payable of a real estate VIE at fair value (principal amount of $144.4 million as of December 31, 2016) $ 79.4 Other liabilities of a real estate VIE: Accounts payable $ 14.6 Other liabilities 109.9 $ 124.5
Revenues and expenses recognized in the Partnership’s condensed consolidated statements of operations	The revenues and expenses recognized in the Partnership’s unaudited condensed consolidated statements of operations for the nine months ended September 30, 2017 and 2016 related to Urbplan were as follows: Nine Months Ended September 30, 2017 (Dollars in millions) Revenue of a real estate VIE: Land development services $ 104.6 Investment income 4.4 $ 109.0 Interest and other expenses of a real estate VIE: Costs of products sold and services rendered $ 64.4 Interest expense 18.5 Change in fair value of loans payable (6.6 ) Compensation and benefits 2.8 G&A and other expenses 58.9 Loss on deconsolidation 64.5 $ 202.5 Nine Months Ended September 30, 2016 (Dollars in millions) Revenue of a real estate VIE: Land development services $ 35.5 Investment income 26.0 $ 61.5 Interest and other expenses of a real estate VIE: Costs of products sold and services rendered $ 18.9 Interest expense 36.2 Change in fair value of loans payable (2.6 ) Compensation and benefits 5.5 G&A and other expenses 99.9 $ 157.9

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Reportable segments financial data	The following table presents the financial data for the Partnership’s four reportable segments for the three and nine months ended September 30, 2017 : Three Months Ended September 30, 2017 Corporate Real Global Investment Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 118.3 $ 71.4 $ 47.6 $ 41.1 $ 278.4 Portfolio advisory fees, net 3.6 0.4 0.1 — 4.1 Transaction fees, net 5.3 0.8 — — 6.1 Total fund level fee revenues 127.2 72.6 47.7 41.1 288.6 Performance fees Realized 345.4 20.4 15.0 30.2 411.0 Unrealized (193.2 ) 60.8 2.6 4.2 (125.6 ) Total performance fees 152.2 81.2 17.6 34.4 285.4 Investment income (loss) Realized 6.5 (64.6 ) 4.7 — (53.4 ) Unrealized 4.1 12.4 — 1.6 18.1 Total investment income (loss) 10.6 (52.2 ) 4.7 1.6 (35.3 ) Interest income 1.8 1.0 2.0 0.6 5.4 Other income 1.6 0.6 1.1 0.1 3.4 Total revenues 293.4 103.2 73.1 77.8 547.5 Segment Expenses Compensation and benefits Direct base compensation 65.3 24.5 23.0 19.7 132.5 Indirect base compensation 18.3 14.8 6.7 5.0 44.8 Equity-based compensation 14.5 8.7 5.1 2.1 30.4 Performance fee related Realized 147.7 9.2 7.3 29.9 194.1 Unrealized (76.1 ) 21.6 0.8 (2.0 ) (55.7 ) Total compensation and benefits 169.7 78.8 42.9 54.7 346.1 General, administrative, and other indirect expenses 20.5 10.5 (63.6 ) 6.1 (26.5 ) Depreciation and amortization expense 4.1 1.9 1.3 0.9 8.2 Interest expense 7.0 4.2 4.2 1.6 17.0 Total expenses 201.3 95.4 (15.2 ) 63.3 344.8 Economic Net Income $ 92.1 $ 7.8 $ 88.3 $ 14.5 $ 202.7 (-) Net Performance Fees 80.6 50.4 9.5 6.5 147.0 (-) Investment Income (Loss) 10.6 (52.2 ) 4.7 1.6 (35.3 ) (+) Equity-based Compensation 14.5 8.7 5.1 2.1 30.4 (+) Reserve for Litigation and Contingencies (12.5 ) (5.8 ) (4.1 ) (2.6 ) (25.0 ) (=) Fee Related Earnings $ 2.9 $ 12.5 $ 75.1 $ 5.9 $ 96.4 (+) Realized Net Performance Fees 197.7 11.2 7.7 0.3 216.9 (+) Realized Investment Income (Loss) 6.5 (64.6 ) 4.7 — (53.4 ) (=) Distributable Earnings $ 207.1 $ (40.9 ) $ 87.5 $ 6.2 $ 259.9 September 30, 2017 and the Nine Months Then Ended Corporate Real Global Investment Solutions Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 351.7 $ 185.6 $ 140.8 $ 113.1 $ 791.2 Portfolio advisory fees, net 11.9 0.6 0.5 — 13.0 Transaction fees, net 14.2 0.8 — — 15.0 Total fund level fee revenues 377.8 187.0 141.3 113.1 819.2 Performance fees Realized 668.8 73.6 37.8 66.5 846.7 Unrealized 465.0 200.1 15.5 32.1 712.7 Total performance fees 1,133.8 273.7 53.3 98.6 1,559.4 Investment income (loss) Realized 15.6 (72.4 ) 8.6 — (48.2 ) Unrealized 22.9 24.4 4.3 3.1 54.7 Total investment income (loss) 38.5 (48.0 ) 12.9 3.1 6.5 Interest income 3.7 2.0 4.6 0.9 11.2 Other income 4.2 1.3 5.6 0.3 11.4 Total revenues 1,558.0 416.0 217.7 216.0 2,407.7 Segment Expenses Compensation and benefits Direct base compensation 175.4 61.6 55.3 51.9 344.2 Indirect base compensation 55.0 45.6 20.9 11.9 133.4 Equity-based compensation 47.3 26.8 16.9 6.2 97.2 Performance fee related Realized 295.4 33.4 18.2 65.4 412.4 Unrealized 221.1 60.1 6.9 18.4 306.5 Total compensation and benefits 794.2 227.5 118.2 153.8 1,293.7 General, administrative, and other indirect expenses 83.9 52.6 (18.6 ) 21.6 139.5 Depreciation and amortization expense 11.5 5.3 3.8 2.6 23.2 Interest expense 21.1 12.7 10.0 4.6 48.4 Total expenses 910.7 298.1 113.4 182.6 1,504.8 Economic Net Income $ 647.3 $ 117.9 $ 104.3 $ 33.4 $ 902.9 (-) Net Performance Fees 617.3 180.2 28.2 14.8 840.5 (-) Investment Income (Loss) 38.5 (48.0 ) 12.9 3.1 6.5 (+) Equity-based Compensation 47.3 26.8 16.9 6.2 97.2 (+) Reserve for Litigation and Contingencies (12.5 ) (5.8 ) (4.1 ) (2.6 ) (25.0 ) (=) Fee Related Earnings $ 26.3 $ 6.7 $ 76.0 $ 19.1 $ 128.1 (+) Realized Net Performance Fees 373.4 40.2 19.6 1.1 434.3 (+) Realized Investment Income (Loss) 15.6 (72.4 ) 8.6 — (48.2 ) (=) Distributable Earnings $ 415.3 $ (25.5 ) $ 104.2 $ 20.2 $ 514.2 Segment assets as of September 30, 2017 $ 3,472.9 $ 1,861.8 $ 996.5 $ 1,063.4 $ 7,394.6 The following table presents the financial data for the Partnership’s four reportable segments for the three and nine months ended September 30, 2016 : Three Months Ended September 30, 2016 Corporate Real Global Investment Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 122.9 $ 60.3 $ 44.1 $ 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 60.3 44.2 33.9 265.6 Performance fees Realized 311.1 19.2 14.3 36.3 380.9 Unrealized (124.2 ) 2.0 3.1 (6.8 ) (125.9 ) Total performance fees 186.9 21.2 17.4 29.5 255.0 Investment income (loss) Realized 24.1 (14.1 ) 1.1 — 11.1 Unrealized (9.6 ) 4.5 7.1 0.2 2.2 Total investment income (loss) 14.5 (9.6 ) 8.2 0.2 13.3 Interest income 0.9 0.4 1.1 0.1 2.5 Other income 1.3 0.4 1.2 0.2 3.1 Total revenues 330.8 72.7 72.1 63.9 539.5 Segment Expenses Compensation and benefits Direct base compensation 52.7 17.2 20.9 16.3 107.1 Indirect base compensation 17.8 8.9 7.5 2.7 36.9 Equity-based compensation 19.8 7.1 4.4 1.6 32.9 Performance fee related Realized 143.5 8.7 6.6 35.8 194.6 Unrealized (57.8 ) (15.7 ) 1.3 (9.7 ) (81.9 ) Total compensation and benefits 176.0 26.2 40.7 46.7 289.6 General, administrative, and other indirect expenses 81.4 37.2 37.7 17.3 173.6 Depreciation and amortization expense 3.4 1.4 1.5 0.9 7.2 Interest expense 7.0 4.1 3.0 1.5 15.6 Total expenses 267.8 68.9 82.9 66.4 486.0 Economic Net Income (Loss) $ 63.0 $ 3.8 $ (10.8 ) $ (2.5 ) $ 53.5 (-) Net Performance Fees 101.2 28.2 9.5 3.4 142.3 (-) Investment Income (Loss) 14.5 (9.6 ) 8.2 0.2 13.3 (+) Equity-based Compensation 19.8 7.1 4.4 1.6 32.9 (+) Reserve for Litigation and Contingencies 49.8 21.6 19.0 9.6 100.0 (=) Fee Related Earnings $ 16.9 $ 13.9 $ (5.1 ) $ 5.1 $ 30.8 (+) Realized Net Performance Fees 167.6 10.5 7.7 0.5 186.3 (+) Realized Investment Income (Loss) 24.1 (14.1 ) 1.1 — 11.1 (=) Distributable Earnings $ 208.6 $ 10.3 $ 3.7 $ 5.6 $ 228.2 Nine Months Ended September 30, 2016 Corporate Real Global Investment Solutions Total (Dollars in millions) Segment Revenues Fund level fee revenues Fund management fees $ 376.9 $ 192.0 $ 147.4 $ 103.7 $ 820.0 Portfolio advisory fees, net 11.2 0.1 0.7 0.8 12.8 Transaction fees, net 24.3 — — — 24.3 Total fund level fee revenues 412.4 192.1 148.1 104.5 857.1 Performance fees Realized 775.2 79.8 21.5 42.7 919.2 Unrealized (496.2 ) 165.8 4.6 19.9 (305.9 ) Total performance fees 279.0 245.6 26.1 62.6 613.3 Investment income (loss) Realized 46.6 (21.4 ) 2.7 — 27.9 Unrealized (12.7 ) 6.5 14.9 (0.8 ) 7.9 Total investment income (loss) 33.9 (14.9 ) 17.6 (0.8 ) 35.8 Interest income 2.7 1.3 3.7 0.3 8.0 Other income 4.0 1.0 3.5 0.4 8.9 Total revenues 732.0 425.1 199.0 167.0 1,523.1 Segment Expenses Compensation and benefits Direct base compensation 165.8 55.4 66.3 49.9 337.4 Indirect base compensation 55.6 28.2 22.7 8.6 115.1 Equity-based compensation 56.0 20.3 13.8 5.1 95.2 Performance fee related Realized 345.4 34.8 8.1 41.2 429.5 Unrealized (219.9 ) 55.2 2.2 13.3 (149.2 ) Total compensation and benefits 402.9 193.9 113.1 118.1 828.0 General, administrative, and other indirect expenses 144.3 70.7 77.1 34.6 326.7 Depreciation and amortization expense 10.2 4.4 4.6 2.6 21.8 Interest expense 21.2 12.1 8.5 4.5 46.3 Total expenses 578.6 281.1 203.3 159.8 1,222.8 Economic Net Income (Loss) $ 153.4 $ 144.0 $ (4.3 ) $ 7.2 $ 300.3 (-) Net Performance Fees 153.5 155.6 15.8 8.1 333.0 (-) Investment Income (Loss) 33.9 (14.9 ) 17.6 (0.8 ) 35.8 (+) Equity-based Compensation 56.0 20.3 13.8 5.1 95.2 (+) Reserve for Litigation and Contingencies 49.8 21.6 19.0 9.6 100.0 (=) Fee Related Earnings $ 71.8 $ 45.2 $ (4.9 ) $ 14.6 $ 126.7 (+) Realized Net Performance Fees 429.8 45.0 13.4 1.5 489.7 (+) Realized Investment Income (Loss) 46.6 (21.4 ) 2.7 — 27.9 (=) Distributable Earnings $ 548.2 $ 68.8 $ 11.2 $ 16.1 $ 644.3
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, 2017 and 2016 . Three Months Ended September 30, 2017 Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 547.5 $ 44.7 $ 47.7 (a) $ 639.9 Expenses $ 344.8 $ 52.3 $ 95.5 (b) $ 492.6 Other income $ — $ 18.6 $ — (c) $ 18.6 Economic net income $ 202.7 $ 11.0 $ (47.8 ) (d) $ 165.9 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 (loss) $ 53.5 $ 6.6 $ (109.8 ) (d) $ (49.7 ) The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the nine months ended September 30, 2017 and 2016 , and Total Assets as of September 30, 2017 . September 30, 2017 and the Nine Months Then Ended Total Reportable Segments Consolidated Funds Reconciling Items Carlyle Consolidated (Dollars in millions) Revenues $ 2,407.7 $ 132.6 $ 128.1 (a) $ 2,668.4 Expenses $ 1,504.8 $ 197.2 $ 305.5 (b) $ 2,007.5 Other income $ — $ 76.4 $ — (c) $ 76.4 Economic net income $ 902.9 $ 11.8 $ (177.4 ) (d) $ 737.3 Total assets $ 7,394.6 $ 4,495.5 $ (203.5 ) (e) $ 11,686.6 Nine Months Ended September 30, 2016 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 loss $ — $ 3.1 $ — (c) $ 3.1 Economic net income (loss) $ 300.3 $ 5.0 $ (271.9 ) (d) $ 33.4 (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 until Urbplan was deconsolidated during the three months ended September 30, 2017 , the inclusion of tax expenses associated with certain performance fees, and adjustments to reflect the Partnership’s ownership interests in Claren Road (through January 2017) and ESG (through June 2016) 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 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 until Urbplan was deconsolidated during the three months ended September 30, 2017 , 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 (through January 2017) and ESG (through June 2016), as detailed below (Dollars in millions): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments $ 58.3 $ 50.6 $ 183.8 $ 175.3 Acquisition related charges, including amortization of intangibles and impairment 7.2 27.7 25.2 67.0 Other non-operating expense (income) — (3.7 ) 0.1 0.8 Tax expense associated with performance fees (1.7 ) (2.0 ) (7.0 ) (16.1 ) Non-Carlyle economic interests in acquired businesses and the real estate VIE 46.2 69.4 128.8 120.7 Severance and other adjustments 0.6 1.5 10.9 10.3 Elimination of expenses of Consolidated Funds (15.1 ) (8.9 ) (36.3 ) (18.6 ) $ 95.5 $ 134.6 $ 305.5 $ 339.4 (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, 2017 2016 2017 2016 Income (loss) before provision for income taxes $ 165.9 $ (49.7 ) $ 737.3 $ 33.4 Adjustments: Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments 58.3 50.6 183.8 175.3 Acquisition related charges, including amortization of intangibles and impairment 7.2 27.7 25.2 67.0 Other non-operating expense (income) — (3.7 ) 0.1 0.8 Tax provision associated with performance fees (1.7 ) (2.0 ) (7.0 ) (16.1 ) Net (income) loss attributable to non-controlling interests in consolidated entities (27.6 ) 29.1 (47.4 ) 29.8 Severance and other adjustments 0.6 1.5 10.9 10.1 Economic Net Income $ 202.7 $ 53.5 $ 902.9 $ 300.3 Net performance fees (1) 147.0 142.3 840.5 333.0 Investment income (loss) (1) (35.3 ) 13.3 6.5 35.8 Equity-based compensation 30.4 32.9 97.2 95.2 Reserve for litigation and contingencies (25.0 ) 100.0 (25.0 ) 100.0 Fee Related Earnings $ 96.4 $ 30.8 $ 128.1 $ 126.7 Realized performance fees, net of related compensation 216.9 186.3 434.3 489.7 Realized investment income (loss) (1) (53.4 ) 11.1 (48.2 ) 27.9 Distributable Earnings $ 259.9 $ 228.2 $ 514.2 $ 644.3 (1) See reconciliation to most directly comparable U.S. GAAP measure below: Three Months Ended September 30, 2017 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 411.8 $ (0.8 ) $ 411.0 Unrealized (126.2 ) 0.6 (125.6 ) Total performance fees 285.6 (0.2 ) 285.4 Performance fee related compensation expense Realized 189.4 4.7 194.1 Unrealized (51.8 ) (3.9 ) (55.7 ) Total performance fee related compensation expense 137.6 0.8 138.4 Net performance fees Realized 222.4 (5.5 ) 216.9 Unrealized (74.4 ) 4.5 (69.9 ) Total net performance fees $ 148.0 $ (1.0 ) $ 147.0 Investment income (loss) Realized $ 15.5 $ (68.9 ) $ (53.4 ) Unrealized 21.7 (3.6 ) 18.1 Investment income (loss) $ 37.2 $ (72.5 ) $ (35.3 ) 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 Total investment income (loss) $ 70.5 $ (57.2 ) $ 13.3 Nine Months Ended September 30, 2017 Carlyle Adjustments (2) Total (Dollars in millions) Performance fees Realized $ 852.7 $ (6.0 ) $ 846.7 Unrealized 658.1 54.6 712.7 Total performance fees 1,510.8 48.6 1,559.4 Performance fee related compensation expense Realized 401.9 10.5 412.4 Unrealized 309.9 (3.4 ) 306.5 Total performance fee related compensation expense 711.8 7.1 718.9 Net performance fees Realized 450.8 (16.5 ) 434.3 Unrealized 348.2 58.0 406.2 Total net performance fees $ 799.0 $ 41.5 $ 840.5 Investment income (loss) Realized $ 42.0 $ (90.2 ) $ (48.2 ) Unrealized 100.5 (45.8 ) 54.7 Investment income (loss) $ 142.5 $ (136.0 ) $ 6.5 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 Total investment income (loss) $ 126.2 $ (90.4 ) $ 35.8 (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 until Urbplan was deconsolidated during the three months ended September 30, 2017 . Adjustments are also included in these financial statement captions to reflect the Partnership’s economic interests in Claren Road (through January 2017) and ESG (through June 2016). (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 Inform40

Supplemental Financial Information (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 and December 31, 2016 and results of operations for the three and nine months ended September 30, 2017 and 2016 . The supplemental statement of cash flows is presented without effects of the Consolidated Funds. As of September 30, 2017 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Assets Cash and cash equivalents $ 1,355.7 $ — $ — $ 1,355.7 Cash and cash equivalents held at Consolidated Funds — 195.4 — 195.4 Restricted cash 9.6 — — 9.6 Corporate treasury investments 117.4 — — 117.4 Accrued performance fees 3,498.6 — — 3,498.6 Investments 1,679.9 — (199.0 ) 1,480.9 Investments of Consolidated Funds — 4,235.8 — 4,235.8 Due from affiliates and other receivables, net 273.3 — (4.5 ) 268.8 Due from affiliates and other receivables of Consolidated Funds, net — 64.3 — 64.3 Fixed assets, net 100.1 — — 100.1 Deposits and other 58.5 — — 58.5 Intangible assets, net 38.0 — — 38.0 Deferred tax assets 263.5 — — 263.5 Total assets $ 7,394.6 $ 4,495.5 $ (203.5 ) $ 11,686.6 Liabilities and partners’ capital Debt obligations $ 1,515.6 $ — $ — $ 1,515.6 Loans payable of Consolidated Funds — 3,794.8 — 3,794.8 Accounts payable, accrued expenses and other liabilities 308.9 — — 308.9 Accrued compensation and benefits 2,175.1 — — 2,175.1 Due to affiliates 264.1 0.2 — 264.3 Deferred revenue 236.0 — — 236.0 Deferred tax liabilities 77.1 — — 77.1 Other liabilities of Consolidated Funds — 507.4 (32.0 ) 475.4 Accrued giveback obligations 67.6 — — 67.6 Total liabilities 4,644.4 4,302.4 (32.0 ) 8,914.8 Series A preferred units 387.6 — — 387.6 Partners’ capital 660.4 46.6 (46.6 ) 660.4 Accumulated other comprehensive loss (68.9 ) 3.0 (3.5 ) (69.4 ) Non-controlling interests in consolidated entities 351.2 23.5 — 374.7 Non-controlling interests in Carlyle Holdings 1,419.9 120.0 (121.4 ) 1,418.5 Total partners’ capital 2,750.2 193.1 (171.5 ) 2,771.8 Total liabilities and partners’ capital $ 7,394.6 $ 4,495.5 $ (203.5 ) $ 11,686.6 As of December 31, 2016 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Assets Cash and cash equivalents $ 670.9 $ — $ — $ 670.9 Cash and cash equivalents held at Consolidated Funds — 761.5 — 761.5 Restricted cash 13.1 — — 13.1 Corporate treasury investments 190.2 — — 190.2 Accrued performance fees 2,481.1 — — 2,481.1 Investments 1,272.2 — (165.2 ) 1,107.0 Investments of Consolidated Funds — 3,893.7 — 3,893.7 Due from affiliates and other receivables, net 231.0 — (3.8 ) 227.2 Due from affiliates and other receivables of Consolidated Funds, net — 29.5 — 29.5 Receivables and inventory of a real estate VIE 145.4 — — 145.4 Fixed assets, net 106.1 — — 106.1 Deposits and other 39.4 — — 39.4 Other assets of a real estate VIE 31.5 — — 31.5 Intangible assets, net 42.0 — — 42.0 Deferred tax assets 234.4 — — 234.4 Total assets $ 5,457.3 $ 4,684.7 $ (169.0 ) $ 9,973.0 Liabilities and partners’ capital Loans payable $ 1,265.2 $ — $ — $ 1,265.2 Loans payable of Consolidated Funds — 3,866.3 — 3,866.3 Loans payable of a real estate VIE at fair value (principal amount of $144.4 million) 79.4 — — 79.4 Accounts payable, accrued expenses and other liabilities 369.8 — — 369.8 Accrued compensation and benefits 1,661.8 — — 1,661.8 Due to affiliates 223.4 0.2 — 223.6 Deferred revenue 54.0 — — 54.0 Deferred tax liabilities 76.6 — — 76.6 Other liabilities of Consolidated Funds — 669.0 (32.0 ) 637.0 Other liabilities of a real estate VIE 124.5 — — 124.5 Accrued giveback obligations 160.8 — — 160.8 Total liabilities 4,015.5 4,535.5 (32.0 ) 8,519.0 Partners’ capital 403.1 36.7 (36.7 ) 403.1 Accumulated other comprehensive income (loss) (94.9 ) (1.5 ) 1.2 (95.2 ) Non-controlling interests in consolidated entities 264.3 13.5 — 277.8 Non-controlling interests in Carlyle Holdings 869.3 100.5 (101.5 ) 868.3 Total partners’ capital 1,441.8 149.2 (137.0 ) 1,454.0 Total liabilities and partners’ capital $ 5,457.3 $ 4,684.7 $ (169.0 ) $ 9,973.0
Supplemental results of operations	Three Months Ended September 30, 2017 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 267.5 $ — $ (5.0 ) $ 262.5 Performance fees Realized 412.3 — (0.5 ) 411.8 Unrealized (126.2 ) — — (126.2 ) Total performance fees 286.1 — (0.5 ) 285.6 Investment income Realized 15.4 — 0.1 15.5 Unrealized 26.1 — (4.4 ) 21.7 Investment income 41.5 — (4.3 ) 37.2 Interest and other income 18.0 — (8.1 ) 9.9 Interest and other income of Consolidated Funds — 44.7 — 44.7 Total revenues 613.1 44.7 (17.9 ) 639.9 Expenses Compensation and benefits Base compensation 174.1 — — 174.1 Equity-based compensation 81.0 — — 81.0 Performance fee related Realized 189.4 — — 189.4 Unrealized (51.8 ) — — (51.8 ) Total compensation and benefits 392.7 — — 392.7 General, administrative and other expenses (18.7 ) — — (18.7 ) Interest 16.9 — — 16.9 Interest and other expenses of Consolidated Funds — 52.3 (15.1 ) 37.2 Interest and other expenses of a real estate VIE and loss on deconsolidation 64.5 — — 64.5 Total expenses 455.4 52.3 (15.1 ) 492.6 Other income Net investment gains of Consolidated Funds — 18.6 — 18.6 Income before provision for income taxes 157.7 11.0 (2.8 ) 165.9 Benefit for income taxes (1.3 ) — — (1.3 ) Net income 159.0 11.0 (2.8 ) 167.2 Net income attributable to non-controlling interests in consolidated entities 19.4 — 8.2 27.6 Net income attributable to Carlyle Holdings 139.6 11.0 (11.0 ) 139.6 Net income attributable to non-controlling interests in Carlyle Holdings 95.0 — — 95.0 Net income attributable to The Carlyle Group L.P. $ 44.6 $ 11.0 $ (11.0 ) $ 44.6 Nine Months Ended September 30, 2017 Consolidated Consolidated Eliminations Consolidated (Dollars in millions) Revenues Fund management fees $ 761.2 $ — $ (13.6 ) $ 747.6 Performance fees Realized 855.2 — (2.5 ) 852.7 Unrealized 658.1 — — 658.1 Total performance fees 1,513.3 — (2.5 ) 1,510.8 Investment income Realized 42.6 — (0.6 ) 42.0 Unrealized 105.5 — (5.0 ) 100.5 Investment income 148.1 — (5.6 ) 142.5 Interest and other income 44.2 — (18.3 ) 25.9 Interest and other income of Consolidated Funds — 132.6 — 132.6 Revenue of a real estate VIE 109.0 — — 109.0 Total revenues 2,575.8 132.6 (40.0 ) 2,668.4 Expenses Compensation and benefits Base compensation 471.1 — — 471.1 Equity-based compensation 241.8 — — 241.8 Performance fee related Realized 401.9 — — 401.9 Unrealized 309.9 — — 309.9 Total compensation and benefits 1,424.7 — — 1,424.7 General, administrative and other expenses 170.9 — — 170.9 Interest 48.4 — — 48.4 Interest and other expenses of Consolidated Funds — 197.2 (36.3 ) 160.9 Interest and other expenses of a real estate VIE and loss on deconsolidation 202.5 — — 202.5 Other non-operating expenses 0.1 — — 0.1 Total expenses 1,846.6 197.2 (36.3 ) 2,007.5 Other income Net investment gains of Consolidated Funds — 76.4 — 76.4 Income before provision for income taxes 729.2 11.8 (3.7 ) 737.3 Provision for income taxes 17.7 — — 17.7 Net income 711.5 11.8 (3.7 ) 719.6 Net income attributable to non-controlling interests in consolidated entities 39.3 — 8.1 47.4 Net income attributable to Carlyle Holdings 672.2 11.8 (11.8 ) 672.2 Net income attributable to non-controlling interests in Carlyle Holdings 487.0 — — 487.0 Net income attributable to The Carlyle Group L.P. $ 185.2 $ 11.8 $ (11.8 ) $ 185.2 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 Realized 40.3 — 0.4 40.7 Unrealized 43.0 — (13.2 ) 29.8 Total investment income 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 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 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 Total 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 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 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 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
Supplemental statement of cash flows	Nine Months Ended September 30, 2017 2016 (Dollars in millions) Cash flows from operating activities Net income $ 711.5 $ 0.6 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 30.9 52.6 Equity-based compensation 241.8 265.8 Non-cash performance fees (561.5 ) 108.0 Other non-cash amounts (8.2 ) (19.2 ) Investment income (129.5 ) (135.8 ) Purchases of investments (445.0 ) (262.7 ) Proceeds from the sale of investments 302.7 236.7 Payments of contingent consideration (22.5 ) (82.6 ) Deconsolidation of Claren Road (see Note 9) (23.3 ) — Deconsolidation of Urbplan (see Note 15) 14.0 — Change in deferred taxes, net (8.7 ) 3.7 Change in due from affiliates and other receivables (78.8 ) 0.7 Change in receivables and inventory of a real estate VIE (14.5 ) 45.1 Change in deposits and other (7.1 ) 6.0 Change in other assets of a real estate VIE 1.6 33.1 Change in accounts payable, accrued expenses and other liabilities 1.9 71.8 Change in accrued compensation and benefits 42.2 32.4 Change in due to affiliates 15.0 (22.4 ) Change in other liabilities of a real estate VIE 47.9 (1.2 ) Change in deferred revenue 178.6 154.9 Net cash provided by operating activities 289.0 487.5 Cash flows from investing activities Change in restricted cash 3.6 1.8 Purchases of fixed assets, net (26.0 ) (13.3 ) Net cash used in investing activities (22.4 ) (11.5 ) Cash flows from financing activities Proceeds from issuance of preferred units 387.6 — Borrowings under credit facility 250.0 — Repayments under credit facility (250.0 ) — Payments on debt obligations (15.0 ) — Proceeds from debt obligations 202.6 20.6 Net payments on loans payable of a real estate VIE (14.3 ) (27.3 ) Payments of contingent consideration (0.4 ) (3.3 ) Distributions to common unitholders (63.0 ) (98.5 ) Distributions to non-controlling interest holders in Carlyle Holdings (163.1 ) (300.9 ) Contributions from non-controlling interest holders 87.7 75.3 Distributions to non-controlling interest holders (74.0 ) (85.5 ) Common units repurchased (0.2 ) (53.6 ) Change in due to/from affiliates financing activities 38.5 49.5 Net cash provided by (used in) financing activities 386.4 (423.7 ) Effect of foreign exchange rate changes 31.8 (0.5 ) Increase in cash and cash equivalents 684.8 51.8 Cash and cash equivalents, beginning of period 670.9 991.5 Cash and cash equivalents, end of period $ 1,355.7 $ 1,043.3

Organization and Basis of Pre41

Organization and Basis of Presentation - Additional Information (Details) - segment	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4	4	4	4

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Principles of Consolidation (Details) $ in Millions	Sep. 30, 2017USD ($)
Variable Interest Entity [Line Items]
Consolidated VIEs, assets	$ 4,500
Consolidated VIEs, liabilities	4,300
Collateralized Loan Obligations
Variable Interest Entity [Line Items]
Investments in CLOs	$ 191.6

Summary of Significant Accoun43

Summary of Significant Accounting Policies - Investments in Unconsolidated Variable Interest Entities (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Investments	$ 1,480.9	$ 1,107
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Investments	828.5	664.2
Due from affiliates, net	0	1.8
Maximum Exposure to Loss	828.5	$ 666
Amount of variable interests in unconsolidated VIEs related to performance fees	51.9
Amount of variable interests in unconsolidated VIEs related to management fees	$ 12.8

Summary of Significant Accoun44

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
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	$ 10.2	$ 5.2	$ 28	$ 37.1
Performance Fees
Performance fees allocation percentage to partnership			20.00%
Accrued giveback obligations	67.6		$ 67.6		$ 160.8
Interest Income
Interest income of Consolidated Funds	$ 41.8	$ 40	$ 124.1	$ 101.6
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			0.60%
Extension period for fund closing (in years)			1 year
Percentage of management fees for CLOs on the total par amount of assets in the fund			0.30%
Period of management fees related to collateralized loan obligation (in years)			5 years
Percentage of management fees for business development companies			0.25%
Percentage of management fees from fund of funds following the expiration of the weighted-average investment period			0.25%
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 | Certain Open-ended and Longer-dated Carry Funds
Performance Fees
Percent of preferred returns			4.00%
Minimum | Managed Accounts and Longer-dated Carry Funds
Fund Management Fees
Percentage of management fees earned			0.20%
Minimum | Private Equity And Real Estate Fund
Fund Management Fees
Percentage of management fees from funds of funds during the commitment fee period			0.25%
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 for CLOs on the total par amount of assets in the fund			0.60%
Period of management fees related to collateralized loan obligation (in years)			10 years
Percentage of management fees for business development companies			1.00%
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 | Certain Open-ended and Longer-dated Carry Funds
Performance Fees
Percent of preferred returns			7.00%
Maximum | Managed Accounts and Longer-dated Carry Funds
Fund Management Fees
Percentage of management fees earned			1.00%
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%

Summary of Significant Accoun45

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accounting Policies [Abstract]
Accrued performance fee-related compensation	$ 1,803.9		$ 1,803.9		$ 1,307.4
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%
Foreign currency transaction (gain) loss	$ 0.7	$ 7.9	$ 2.2	$ 30.8

Summary of Significant Accoun46

Summary of Significant Accounting Policies - Fixed Assets (Details)	9 Months Ended
	Sep. 30, 2017
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 Accoun47

Summary of Significant Accounting Policies - Intangible Assets and Goodwill (Details)	9 Months Ended
	Sep. 30, 2017
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 Accoun48

Summary of Significant Accounting Policies - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total	$ (65.4)	$ (91.7)
Unrealized losses on defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total	(4)	(3.5)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total	$ (69.4)	$ (95.2)

Summary of Significant Accoun49

Summary of Significant Accounting Policies - New Accounting Pronouncements (Details)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Percentage of Partnership's performance fee revenues (percent)	80.00%

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, 2017	Dec. 31, 2016
Assets
Investments at fair value	$ 4,676.2	$ 4,239
Liabilities
Loans payable of Consolidated Funds	3,794.8	3,866.3
Contingent consideration	1.3	1.5
Loans payable of a real estate VIE	0	79.4
Foreign currency forward contracts	3.9	10
Total Liabilities	3,800	3,957.2
Equity securities
Assets
Investments at fair value	26.8	10.3
Bonds
Assets
Investments at fair value	347	396.4
Loans
Assets
Investments at fair value	3,861.7	3,485.6
Other
Assets
Investments at fair value	0.3	1.4
Investments of Consolidated Funds
Assets
Investments at fair value	4,235.8	3,893.7
Investments in CLOs and other
Assets
Investments at fair value	322.7	152.6
Bonds
Assets
Investments at fair value	87.6	91.3
Commercial paper and other
Assets
Investments at fair value	29.8	98.9
Corporate treasury investments
Assets
Investments at fair value	117.4	190.2
Foreign currency forward contracts
Assets
Investments at fair value	0.3	2.5
Level I
Assets
Investments at fair value	0	0
Liabilities
Loans payable of Consolidated Funds	0	0
Contingent consideration	0	0
Loans payable of a real estate VIE		0
Foreign currency forward contracts	0	0
Total Liabilities	0	0
Level I | Equity securities
Assets
Investments at fair value	0	0
Level I | Bonds
Assets
Investments at fair value	0	0
Level I | Loans
Assets
Investments at fair value	0	0
Level I | Other
Assets
Investments at fair value	0	0
Level I | Investments of Consolidated Funds
Assets
Investments at fair value	0	0
Level I | Investments in CLOs and other
Assets
Investments at fair value	0	0
Level I | Bonds
Assets
Investments at fair value	0	0
Level I | Commercial paper and other
Assets
Investments at fair value	0	0
Level I | Corporate treasury investments
Assets
Investments at fair value	0	0
Level I | Foreign currency forward contracts
Assets
Investments at fair value	0	0
Level II
Assets
Investments at fair value	117.7	192.7
Liabilities
Loans payable of Consolidated Funds	0	0
Contingent consideration	0	0
Loans payable of a real estate VIE		0
Foreign currency forward contracts	3.9	10
Total Liabilities	3.9	10
Level II | Equity securities
Assets
Investments at fair value	0	0
Level II | Bonds
Assets
Investments at fair value	0	0
Level II | Loans
Assets
Investments at fair value	0	0
Level II | Other
Assets
Investments at fair value	0	0
Level II | Investments of Consolidated Funds
Assets
Investments at fair value	0	0
Level II | Investments in CLOs and other
Assets
Investments at fair value	0	0
Level II | Bonds
Assets
Investments at fair value	87.6	91.3
Level II | Commercial paper and other
Assets
Investments at fair value	29.8	98.9
Level II | Corporate treasury investments
Assets
Investments at fair value	117.4	190.2
Level II | Foreign currency forward contracts
Assets
Investments at fair value	0.3	2.5
Level III
Assets
Investments at fair value	4,558.5	4,046.3
Liabilities
Loans payable of Consolidated Funds	3,794.8	3,866.3
Contingent consideration	1.3	1.5
Loans payable of a real estate VIE		79.4
Foreign currency forward contracts	0	0
Total Liabilities	3,796.1	3,947.2
Level III | Equity securities
Assets
Investments at fair value	26.8	10.3
Level III | Bonds
Assets
Investments at fair value	347	396.4
Level III | Loans
Assets
Investments at fair value	3,861.7	3,485.6
Level III | Other
Assets
Investments at fair value	0.3	1.4
Level III | Investments of Consolidated Funds
Assets
Investments at fair value	4,235.8	3,893.7
Level III | Investments in CLOs and other
Assets
Investments at fair value	322.7	152.6
Level III | Bonds
Assets
Investments at fair value	0	0
Level III | Commercial paper and other
Assets
Investments at fair value	0	0
Level III | Corporate treasury investments
Assets
Investments at fair value	0	0
Level III | Foreign currency forward contracts
Assets
Investments at fair value	$ 0	$ 0

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details)	9 Months Ended
	Sep. 30, 2017
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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jan. 01, 2016
Bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Deconsolidation of funds				$ (890.7)
Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Deconsolidation of funds				(13,506.9)
Partnership and LLC interests
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Deconsolidation of funds				(74.3)
Other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Deconsolidation of funds				(5)
Investments in CLOs and other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Deconsolidation of funds				123.8
Restricted securities of Consolidated Funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Deconsolidation of funds				(8.7)
Investments in CLOs and other | Accounting Standards Update 2015-2
Realized and unrealized gains (losses), net
Fair value of investments					$ 123.8
Level III
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 4,130.6	$ 3,505.6	$ 4,046.3	17,517.6
Deconsolidation of funds				(14,923.9)
Purchases	728.9	398.3	2,304.6	1,733.7
Sales and distributions	(193.1)	(190.4)	(1,357.5)	(365)
Settlements	(216.3)	(220.7)	(801.7)	(516.9)
Realized and unrealized gains (losses), net
Included in earnings	1.5	31.3	39.9	70.1
Included in other comprehensive income	106.9	24.1	326.9	32.6
Balance, end of period	4,558.5	3,548.2	4,558.5	3,548.2
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	13.4	26.6	52.9	63.4
Fair value of investments	4,130.6	3,505.6	4,046.3	17,517.6
Level III | Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	9.7	11.9	10.3	575.3
Deconsolidation of funds				(562.1)
Purchases	0.1	0	0.1	11.1
Sales and distributions	0	0.1	(1.6)	(5.1)
Settlements	0	0	0	0
Realized and unrealized gains (losses), net
Included in earnings	16.8	(1.5)	17.1	(9)
Included in other comprehensive income	0.2	0	0.9	0.3
Balance, end of period	26.8	10.5	26.8	10.5
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	16.8	(1.3)	22.1	(7)
Fair value of investments	9.7	11.9	10.3	575.3
Level III | Bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	395.9	407.8	396.4	1,180.9
Purchases	15.5	45.3	132.3	194.3
Sales and distributions	(71.2)	(66.3)	(227.5)	(103.6)
Settlements	0	0	0	0
Realized and unrealized gains (losses), net
Included in earnings	(7.4)	4.1	(1.7)	5.9
Included in other comprehensive income	14.2	5.5	47.5	9.6
Balance, end of period	347	396.4	347	396.4
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	(5.6)	3.5	0.8	5.1
Fair value of investments	395.9	407.8	396.4	1,180.9
Level III | Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	3,500.1	2,933.1	3,485.6	15,686.7
Purchases	599.3	352	1,997.4	1,490
Sales and distributions	(98.3)	(122)	(1,101.8)	(249.9)
Settlements	(216.3)	(220.7)	(801.7)	(516.9)
Realized and unrealized gains (losses), net
Included in earnings	(9.6)	18.4	16.3	42.3
Included in other comprehensive income	86.5	21.5	265.9	37
Balance, end of period	3,861.7	2,982.3	3,861.7	2,982.3
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	0.8	15.7	22.5	36.6
Fair value of investments	3,500.1	2,933.1	3,485.6	15,686.7
Level III | Partnership and LLC interests
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period				59.6
Purchases				12.4
Sales and distributions				0
Settlements				0
Realized and unrealized gains (losses), net
Included in earnings				2.3
Included in other comprehensive income				0
Balance, end of period		0		0
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date				0
Fair value of investments		0		59.6
Level III | Other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	2	0.1	1.4	5
Purchases	0	0	0	0
Sales and distributions	(3.1)	0	(3)	0
Settlements	0	0	0	0
Realized and unrealized gains (losses), net
Included in earnings	1.3	1.6	1.7	1.7
Included in other comprehensive income	0.1	0	0.2	0
Balance, end of period	0.3	1.7	0.3	1.7
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	0.1	0.3	0.1	1.8
Fair value of investments	2	0.1	1.4	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	222.9	152.7	152.6	1.4
Purchases	114	1	174.8	25.9
Sales and distributions	(20.5)	(2.2)	(23.6)	(6.4)
Settlements	0	0	0	0
Realized and unrealized gains (losses), net
Included in earnings	0.4	8.7	6.5	26.9
Included in other comprehensive income	5.9	(2.9)	12.4	(14.3)
Balance, end of period	322.7	157.3	322.7	157.3
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date	1.3	8.4	7.4	26.9
Fair value of investments	$ 222.9	152.7	$ 152.6	1.4
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
Purchases				0
Sales and distributions				0
Settlements				0
Realized and unrealized gains (losses), net
Included in earnings				0
Included in other comprehensive income				0
Balance, end of period		0		0
Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date				0
Fair value of investments		$ 0		$ 8.7

Fair Value Measurement - Fina53

Fair Value Measurement - Financial Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Borrowings			$ 202.6	$ 20.6
Level III
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 3,795.1	$ 3,391.7	3,947.2	17,172
Initial consolidation of funds		0		(14,250.3)
Borrowings		26.4	1,569	671.1
Paydowns	(2.3)	(119.4)	(1,896.4)	(369)
Deconsolidation of a real estate VIE	(72.6)		(72.6)
Sales		(1.7)		(1.7)
Realized and unrealized (gains) losses, net
Included in earnings	(21.1)	20.6	(46)	67.1
Included in other comprehensive income	97	36.1	294.9	64.5
Balance, end of period	3,796.1	3,353.7	3,796.1	3,353.7
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	(24.1)	26.7	(53.5)	58
Level III | Loans Payable of Consolidated Funds
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	3,721.2	3,284.7	3,866.3	17,046.7
Initial consolidation of funds		0		(14,221.3)
Borrowings		26.4	1,569	671.1
Paydowns	(2.3)	(99)	(1,881.7)	(331.4)
Deconsolidation of a real estate VIE	0		0
Sales		0		0
Realized and unrealized (gains) losses, net
Included in earnings	(21.1)	15.8	(49.4)	43.8
Included in other comprehensive income	97	25.5	290.6	44.5
Balance, end of period	3,794.8	3,253.4	3,794.8	3,253.4
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	(24.1)	19.5	(53.6)	36.6
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
Initial consolidation of funds		0		(29)
Borrowings		0		0
Paydowns		0		0
Sales		(1.7)		(1.7)
Realized and unrealized (gains) losses, net
Included in earnings		1.4		1.6
Included in other comprehensive income		0		0
Balance, end of period		0		0
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date		0		0
Level III | Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	1.3	25	1.5	20.8
Initial consolidation of funds		0		0
Borrowings		0	0	0
Paydowns	0	(10)	(0.4)	(10.3)
Deconsolidation of a real estate VIE	0		0
Sales		0		0
Realized and unrealized (gains) losses, net
Included in earnings	0	(3.7)	0.1	0.8
Included in other comprehensive income	0	0.1	0.1	0.1
Balance, end of period	1.3	11.4	1.3	11.4
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	0	0.1	0.1	0.5
Level III | Loans Payable of a real estate VIE
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	72.6	81.7	79.4	75.4
Initial consolidation of funds		0		0
Borrowings		0	0	0
Paydowns	0	(10.4)	(14.3)	(27.3)
Deconsolidation of a real estate VIE	(72.6)		(72.6)
Sales		0		0
Realized and unrealized (gains) losses, net
Included in earnings	0	7.1	3.3	20.9
Included in other comprehensive income	0	10.5	4.2	19.9
Balance, end of period	0	88.9	0	88.9
Changes in unrealized (gains) losses included in earnings related to financial liabilities still held at the reporting date	$ 0	$ 7.1	$ 0	$ 20.9

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, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 3,800	$ 3,957.2
Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	3,796.1	3,947.2
Investments of Consolidated Funds | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	4,235.8	3,893.7
Investments in CLOs and other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	4,558.5	4,046.3
Discounted Cash Flow | Equity securities | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	24.9	9.6
Consensus Pricing | Equity securities | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	1.9	0.7
Consensus Pricing | Bonds | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	347	396.4
Consensus Pricing | Loans | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	3,861.7	3,485.6
Counterparty Pricing | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	0.3	1.4
Discounted Cash Flow with Consensus Pricing | Senior secured notes | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	275.8	115.9
Discounted Cash Flow with Consensus Pricing | Subordinated notes and preferred shares | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	44	35.4
Comparable Multiple | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of assets	$ 2.9	$ 1.3
Minimum | Discounted Cash Flow | Equity securities | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	6.00%	9.00%
Exit Cap Rate (as a percent)	7.00%	7.00%
Minimum | Consensus Pricing | Equity securities | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes ($ per share)	$ 28	$ 10
Minimum | Consensus Pricing | Bonds | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	65.00%	74.00%
Minimum | Consensus Pricing | Loans | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	49.00%	31.00%
Minimum | Counterparty Pricing | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)	11.00%	6.00%
Minimum | Discounted Cash Flow with Consensus Pricing | Senior secured notes | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	1.00%	1.00%
Indicative Quotes (% of Par)	95.00%	82.00%
Default Rates (as a percent)	1.00%	1.00%
Recovery Rates (as a percent)	50.00%	50.00%
Minimum | Discounted Cash Flow with Consensus Pricing | Subordinated notes and preferred shares | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	8.00%	9.00%
Indicative Quotes (% of Par)	71.00%	2.00%
Default Rates (as a percent)	1.00%	1.00%
Recovery Rates (as a percent)	50.00%	50.00%
Minimum | Comparable Multiple | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple	6.3	5.7
Maximum | Discounted Cash Flow | Equity securities | Level III
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)	10.00%	9.00%
Maximum | Consensus Pricing | Equity securities | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes ($ per share)	$ 28	$ 10
Maximum | Consensus Pricing | Bonds | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	110.00%	108.00%
Maximum | Consensus Pricing | Loans | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	102.00%	102.00%
Maximum | Counterparty Pricing | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)	11.00%	8.00%
Maximum | Discounted Cash Flow with Consensus Pricing | Senior secured notes | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	9.00%	11.00%
Indicative Quotes (% of Par)	102.00%	102.00%
Default Rates (as a percent)	3.00%	3.00%
Recovery Rates (as a percent)	70.00%	74.00%
Maximum | Discounted Cash Flow with Consensus Pricing | Subordinated notes and preferred shares | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	10.00%	14.00%
Indicative Quotes (% of Par)	97.00%	101.00%
Default Rates (as a percent)	3.00%	10.00%
Recovery Rates (as a percent)	70.00%	74.00%
Maximum | Comparable Multiple | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple	6.3	5.7
Weighted Average | Discounted Cash Flow | Equity securities | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	6.00%	9.00%
Exit Cap Rate (as a percent)	7.00%	7.00%
Weighted Average | Consensus Pricing | Equity securities | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes ($ per share)	$ 28	$ 10
Weighted Average | Consensus Pricing | Bonds | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	99.00%	99.00%
Weighted Average | Consensus Pricing | Loans | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Par)	100.00%	99.00%
Weighted Average | Counterparty Pricing | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Indicative Quotes (% of Notional Amount)	11.00%	7.00%
Weighted Average | Discounted Cash Flow with Consensus Pricing | Senior secured notes | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	3.00%	2.00%
Indicative Quotes (% of Par)	100.00%	99.00%
Default Rates (as a percent)	2.00%	2.00%
Recovery Rates (as a percent)	60.00%	71.00%
Weighted Average | Discounted Cash Flow with Consensus Pricing | Subordinated notes and preferred shares | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	9.00%	12.00%
Indicative Quotes (% of Par)	87.00%	96.00%
Default Rates (as a percent)	2.00%	2.00%
Recovery Rates (as a percent)	60.00%	64.00%
Weighted Average | Comparable Multiple | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
LTM EBITDA Multiple	6.3	5.7
Senior secured notes | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 3,621.3	$ 3,672.5
Subordinated notes and preferred shares | Discounted Cash Flow with Consensus Pricing | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	146.2	166.9
Subordinated notes and preferred shares | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 27.3	$ 26.9
Subordinated notes and preferred shares | Minimum | Discounted Cash Flow with Consensus Pricing | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	8.00%	9.00%
Indicative Quotes (% of Par)	79.00%	7.00%
Default Rates (as a percent)	1.00%	1.00%
Recovery Rates (as a percent)	50.00%	50.00%
Subordinated notes and preferred shares | Maximum | Discounted Cash Flow with Consensus Pricing | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	10.00%	14.00%
Indicative Quotes (% of Par)	94.00%	90.00%
Default Rates (as a percent)	3.00%	3.00%
Recovery Rates (as a percent)	70.00%	74.00%
Subordinated notes and preferred shares | Weighted Average | Discounted Cash Flow with Consensus Pricing | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Discount Rates (as a percent)	9.00%	12.00%
Indicative Quotes (% of Par)	86.00%	68.00%
Default Rates (as a percent)	2.00%	2.00%
Recovery Rates (as a percent)	60.00%	66.00%
Loans payable of a real estate VIE | Discounted Cash Flow | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities		$ 79.4
Loans payable of a real estate VIE | Minimum | Discounted Cash Flow | Level III
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		10.00%
Loans payable of a real estate VIE | Maximum | Discounted Cash Flow | Level III
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		55.00%
Loans payable of a real estate VIE | Weighted Average | Discounted Cash Flow | Level III
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		37.00%
Contingent consideration | Other | Level III
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value of liabilities	$ 1.3	$ 1.5

Accrued Performance Fees - Comp

Accrued Performance Fees - Components of Accrued Performance Fees (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Accrued performance fees	$ 3,498.6	$ 2,481.1
Corporate Private Equity
Segment Reporting Information [Line Items]
Accrued performance fees	2,130.9	1,375.4
Real Assets
Segment Reporting Information [Line Items]
Accrued performance fees	624.3	483.4
Global Market Strategies
Segment Reporting Information [Line Items]
Accrued performance fees	84.9	68.6
Investment Solutions
Segment Reporting Information [Line Items]
Accrued performance fees	$ 658.5	$ 553.7

Accrued Performance Fees - Addi

Accrued Performance Fees - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)fund	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)fund	Sep. 30, 2016USD ($)	Dec. 31, 2016fund
Segment Reporting Information [Line Items]
Percentage of accrued performance fees related to certain Corporate Private Equity funds (percent)	31.00%		31.00%		27.00%
Number of Partnership's Corporate Private Equity funds related to accrued performance fees | fund	2		2		2
Performance fees	$ 285.6	$ 214.7	$ 1,510.8	$ 570.8
Performance Fee Revenue | Customer Concentration Risk
Segment Reporting Information [Line Items]
Percentage of performance fees related to certain Corporate Private Equity funds (percent)	39.00%	50.00%	65.00%	59.00%
Performance fees	$ 110.4	$ 107.9	$ 979.9	$ 338.2
Performance Fee Revenue | Customer Concentration Risk | Carlyle Partners V, L.P.
Segment Reporting Information [Line Items]
Performance fees	39.7		301	129.7
Performance Fee Revenue | Customer Concentration Risk | Carlyle Partners VI, L.P.
Segment Reporting Information [Line Items]
Performance fees	120.5	208.9	615	317.3
Performance Fee Revenue | Customer Concentration Risk | Carlyle U.S. Equity Opportunities Fund LP
Segment Reporting Information [Line Items]
Performance fees	(31.6)
Performance Fee Revenue | Customer Concentration Risk | Carlyle International Energy Partners LP
Segment Reporting Information [Line Items]
Performance fees	$ 47.6
Performance Fee Revenue | Customer Concentration Risk | Carlyle Asia Partners IV, L.P.
Segment Reporting Information [Line Items]
Performance fees			$ 271.3
Performance Fee Revenue | Customer Concentration Risk | Carlyle Asia Partners III, L.P.
Segment Reporting Information [Line Items]
Performance fees		(20.8)
Performance Fee Revenue | Customer Concentration Risk | Carlyle Realty Partners V, L.P.
Segment Reporting Information [Line Items]
Performance fees		$ (50.9)
Performance Fee Revenue | Customer Concentration Risk | Carlyle Realty Partners VII, L.P.
Segment Reporting Information [Line Items]
Performance fees				$ 111.2

Accrued Performance Fees - Co57

Accrued Performance Fees - Components of Accrued Giveback Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Accrued giveback obligations	$ (67.6)	$ (160.8)
Corporate Private Equity
Segment Reporting Information [Line Items]
Accrued giveback obligations	(9.8)	(3.9)
Real Assets
Segment Reporting Information [Line Items]
Accrued giveback obligations	$ (57.8)	$ (156.9)

Accrued Performance Fees - Perf

Accrued Performance Fees - Performance Fees (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Performance fees	$ 285.6	$ 214.7	$ 1,510.8	$ 570.8
Corporate Private Equity
Segment Reporting Information [Line Items]
Performance fees	159.6	186.5	1,147.4	283
Real Assets
Segment Reporting Information [Line Items]
Performance fees	74.5	(19.1)	214	198.6
Global Market Strategies
Segment Reporting Information [Line Items]
Performance fees	17.2	17.8	50.8	26.8
Investment Solutions
Segment Reporting Information [Line Items]
Performance fees	$ 34.3	$ 29.5	$ 98.6	$ 62.4

Investments - Schedule of Inves

Investments - Schedule of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments, excluding accrued performance fees	$ 1,157.7	$ 950.9
Investments in CLOs and other	323.2	156.1
Total investments	$ 1,480.9	$ 1,107

Investments - Additional Inform

Investments - Additional Information (Details)

1 Months Ended

3 Months Ended

9 Months Ended

Mar. 31, 2017USD ($)

Jan. 31, 2016USD ($)

Dec. 31, 2012USD ($)shares

Sep. 30, 2017USD ($)collateralized_loan_obligation

Sep. 30, 2016USD ($)

Sep. 30, 2017USD ($)collateralized_loan_obligation

Sep. 30, 2016USD ($)

Jan. 01, 2021USD ($)

Feb. 01, 2020USD ($)

Feb. 01, 2019USD ($)

Feb. 01, 2018USD ($)

Dec. 31, 2016USD ($)

Schedule of Equity Method Investments [Line Items]

Percentage of carried interest income to be allocated to Partnership for future interests in future carry funds (percent)

47.50%

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

Vesting period of common units to be issued to equity investment owner in future period

42 months

Partnership's basis difference based on underlying net assets

$ 23,400,000

$ 23,400,000

$ 29,800,000

Basis difference amortization period (in years)

10 years

Amount of accelerated expense recognized in the current period as a result of the March 2017 amendments to the original NGP agreements

$ 10,600,000

$ 4,100,000

$ 46,200,000

$ 10,700,000

Number of CLOs formed during the period | collateralized_loan_obligation

5

5

Number of CLOs consolidated during the period | collateralized_loan_obligation

1

Total Assets of CLO consolidated during the period

$ 522,700,000

$ 522,700,000

Minimum percent of aggregate assets for individual investments with fair value (percent)

5.00%

Corporate mezzanine securities and bonds

Schedule of Equity Method Investments [Line Items]

Investments in CLOs and other

$ 323,200,000

$ 323,200,000

$ 156,100,000

Accelerated Expense

Schedule of Equity Method Investments [Line Items]

Amount of accelerated expense recognized in the current period as a result of the March 2017 amendments to the original NGP agreements

$ 27,700,000

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

Portion of cash contingent consideration paid to equity investment owner in current period

$ 22,500,000

ECM Capital, L.P. | Barclays Natural Resource Investments

Schedule of Equity Method Investments [Line Items]

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 (percent)

55.00%

Scenario, Forecast

Schedule of Equity Method Investments [Line Items]

Value of common units to be issued to equity investment owner in future period (maximum)

$ 10,000,000

$ 10,000,000

$ 10,000,000

$ 10,000,000

Investments - Schedule of Net I

Investments - Schedule of Net Investment Earnings (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Management fees	$ 21.3	$ 20.9	$ 58.9	$ 62.1
Performance fees	7.4	37.9	62.7	47.6
Investment income	1.6	6.4	7.8	10.8
Expenses	(10.6)	(4.1)	(46.2)	(10.7)
Amortization of basis differences	(2.1)	(13.8)	(6.4)	(41.4)
Net investment income	$ 17.6	$ 47.3	$ 76.8	$ 68.4

Investments - Schedule of Equit

Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Equity method investments	$ 1,157.7	$ 950.9
Operating Segments | Corporate Private Equity
Schedule of Investments [Line Items]
Equity method investments	370.3	282.4
Operating Segments | Real Assets
Schedule of Investments [Line Items]
Equity method investments	729.7	622.8
Operating Segments | Global Market Strategies
Schedule of Investments [Line Items]
Equity method investments	19.7	20.1
Operating Segments | Investment Solutions
Schedule of Investments [Line Items]
Equity method investments	$ 38	$ 25.6

Investments - Components of Inv

Investments - Components of Investment Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Income from equity investments	$ 35.9	$ 65.9	$ 140.2	$ 116.3
Income from investments in CLOs and other investments	1.3	4.6	2.3	9.6
Other investment income	0	0	0	0.3
Total investment income	$ 37.2	$ 70.5	$ 142.5	$ 126.2

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Investments [Line Items]
Income from equity investments	$ 35.9	$ 65.9	$ 140.2	$ 116.3
Operating Segments | Corporate Private Equity
Schedule of Investments [Line Items]
Income from equity investments	8.8	13.5	38.4	32
Operating Segments | Real Assets
Schedule of Investments [Line Items]
Income from equity investments	24.1	52.5	95.7	89.9
Operating Segments | Global Market Strategies
Schedule of Investments [Line Items]
Income from equity investments	0	(0.5)	0.6	(5.5)
Operating Segments | Investment Solutions
Schedule of Investments [Line Items]
Income from equity investments	$ 3	$ 0.4	$ 5.5	$ (0.1)

Investments - Interest and Othe

Investments - Interest and Other Income of Consolidated Funds (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Interest income from investments	$ 41.8	$ 40	$ 124.1	$ 101.6
Other income	2.9	3	8.5	6.2
Total	$ 44.7	$ 43	$ 132.6	$ 107.8

Investments - Net Investment Ga

Investments - Net Investment Gains (Losses) of Consolidated Funds (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Gains (losses) from investments of Consolidated Funds	$ (2.5)	$ 18.6	$ 27.1	$ 45
Gains (losses) from liabilities of CLOs	21.1	(15.9)	49.3	(43.8)
Gains on other assets of CLOs	0	2.1	0	1.9
Total	$ 18.6	$ 4.8	$ 76.4	$ 3.1

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Realized losses	$ (3.3)	$ 0	$ (9.1)	$ (9.6)
Net change in unrealized gains	0.8	18.6	36.2	54.6
Total	$ (2.5)	$ 18.6	$ 27.1	$ 45

Intangible Assets and Goodwil68

Intangible Assets and Goodwill - Carrying Amount of Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired contractual rights	$ 80.3	$ 74.1
Acquired trademarks	1.2	1
Accumulated amortization	(54.5)	(43.2)
Finite-lived intangible assets, net	27	31.9
Goodwill	11	10.1
Intangible assets, net	$ 38	$ 42

Intangible Assets and Goodwil69

Intangible Assets and Goodwill - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Pretax impairment charge recorded during the period for intangible assets related to our credit hedge funds			$ 0	$ 0
Intangible asset amortization expense, excluding impairment losses	$ 2,600,000	$ 11,100,000	$ 7,600,000	$ 30,400,000

Intangible Assets and Goodwil70

Intangible Assets and Goodwill - Estimated Future Amortization Expense (Details) $ in Millions	Sep. 30, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 2.6
2,018	9.6
2,019	5.9
2,020	5.9
2,021	3
Total	$ 27

Borrowings - Partnership's Borr

Borrowings - Partnership's Borrowings (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Borrowing Outstanding	$ 1,517,600,000	$ 1,267,600,000
Carrying Value	1,515,600,000	1,265,200,000
Senior Credit Facility Term Loan Due 5/05/2020
Debt Instrument [Line Items]
Borrowing Outstanding	25,000,000	25,000,000
Carrying Value	24,800,000	24,700,000
CLO Term Loans
Debt Instrument [Line Items]
Borrowing Outstanding	229,900,000	33,800,000
Carrying Value	229,900,000	33,800,000
3.875% Senior Notes Due 2/01/2023
Debt Instrument [Line Items]
Borrowing Outstanding	500,000,000	500,000,000
Carrying Value	$ 497,500,000	497,200,000
Interest rate on senior notes (as a percent)	3.875%
5.625% Senior Notes Due 3/30/2043
Debt Instrument [Line Items]
Borrowing Outstanding	$ 600,000,000	600,000,000
Carrying Value	$ 600,700,000	$ 600,700,000
Interest rate on senior notes (as a percent)	5.625%

Borrowings - Additional Informa

Borrowings - Additional Information (Details)	Sep. 30, 2017USD ($)	Mar. 31, 2013USD ($)	Jan. 31, 2013USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2017USD ($)vehicle	Apr. 06, 2017USD ($)	Feb. 28, 2017EUR (€)	Dec. 31, 2016USD ($)	Jan. 31, 2016USD ($)	Jan. 01, 2016USD ($)	Mar. 31, 2014USD ($)
Debt Instrument [Line Items]
Debt principal amount	$ 1,517,600,000			$ 1,517,600,000		$ 1,517,600,000					$ 1,267,600,000
Term loan carrying value	1,515,600,000			1,515,600,000		1,515,600,000					1,265,200,000
Interest expense				16,900,000	$ 15,600,000	48,400,000	$ 46,300,000
Amount of promissory note for strategic investment contingent consideration												$ 120,000,000
Derivatives, number of commodities investment vehicles settled | vehicle								2
Fair value of collateralized loan obligation assets	4,500,000,000			4,500,000,000		4,500,000,000					4,700,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity	750,000,000			750,000,000		750,000,000
Outstanding borrowings under credit facility	0			0		0			$ 250,000,000
Interest expense				0	0	0	0
Senior Notes
Debt Instrument [Line Items]
Debt principal amount			$ 500,000,000
Interest rate on senior notes (as a percent)			3.875%
Senior notes percentage of par value (percent)			99.966%
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	520,800,000			520,800,000		520,800,000					512,800,000
Senior Notes | 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]
Debt principal amount		$ 400,000,000												$ 200,000,000
Interest rate on senior notes (as a percent)		5.625%												5.625%
Senior notes percentage of par value (percent)		99.583%												104.315%
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	688,700,000			688,700,000		688,700,000					603,100,000
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%
Senior Credit Facility Term Loan Due 5/05/2020
Debt Instrument [Line Items]
Debt principal amount	25,000,000			25,000,000		25,000,000					25,000,000
Term loan carrying value	$ 24,800,000			$ 24,800,000		$ 24,800,000					24,700,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum percentage of applicable margin in addition to base rate (percent)	0.75%			0.75%		0.75%
Maximum percentage of applicable margin (percent)	1.75%			1.75%		1.75%
Actual percentage at period end (percent)						2.49%
Euro CLO Financing
Debt Instrument [Line Items]
Debt principal amount | €										€ 61,800,000
Term loan carrying value	$ 73,000,000			$ 73,000,000		$ 73,000,000
Repayment with penalty period						3 years
Euro CLO Financing | Euribor
Debt Instrument [Line Items]
Interest rate spread on term loan to fund investment in a CLO (as a percent)	2.33%
5.625% Senior Notes Due 3/30/2043
Debt Instrument [Line Items]
Debt principal amount	$ 600,000,000			600,000,000		$ 600,000,000					600,000,000
Term loan carrying value	$ 600,700,000			$ 600,700,000		$ 600,700,000					600,700,000
Interest rate on senior notes (as a percent)	5.625%			5.625%		5.625%
Promissory Note Due 1/01/2022
Debt Instrument [Line Items]
Actual percentage at period end (percent)						3.83%
Amount of promissory note for strategic investment contingent consideration													$ 120,000,000
Basis spread of variable rate promissory note (as a percent)						2.50%
Promissory Note Due 1/01/2022 | LIBOR
Debt Instrument [Line Items]
Debt principal amount	$ 108,800,000			$ 108,800,000		$ 108,800,000					108,800,000
Term loan carrying value	108,800,000			108,800,000		108,800,000					108,800,000
Promissory Notes Due 7/15/2019 | LIBOR
Debt Instrument [Line Items]
Debt principal amount	$ 53,900,000			53,900,000		53,900,000		$ 53,900,000			0
Actual percentage at period end (percent)	3.33%
Term loan carrying value	$ 53,900,000			53,900,000		53,900,000					0
Interest rate spread on term loan to fund investment in a CLO (as a percent)	2.00%
CLO Term Loans
Debt Instrument [Line Items]
Debt principal amount	$ 229,900,000			229,900,000		229,900,000					33,800,000
Term loan carrying value	229,900,000			229,900,000		229,900,000					33,800,000
Interest expense				0	$ 0	0	$ 0
Commercial Paper | Promissory Note Maturing January 1, 2022
Debt Instrument [Line Items]
Debt repurchased											11,200,000
Purchase price of debt repurchased											9,000,000
Long-term debt outstanding	$ 108,800,000			$ 108,800,000		$ 108,800,000					$ 108,800,000

Borrowings - CLO Term Loans (De

Borrowings - CLO Term Loans (Details) $ in Millions	Aug. 14, 2017	Aug. 02, 2017EUR (€)	Jul. 20, 2017	Jun. 28, 2017	Apr. 19, 2017	Sep. 30, 2017USD ($)	Feb. 28, 2017EUR (€)	Dec. 31, 2016USD ($)	Oct. 03, 2013EUR (€)
Debt Instrument [Line Items]
Debt principal amount						$ 1,517.6		$ 1,267.6
CLO Term Loan Maturing September 2018
Debt Instrument [Line Items]
Debt principal amount | €									€ 12,600,000
CLO Term Loan Maturing July 2027
Debt Instrument [Line Items]
Debt principal amount						$ 20.6		20.6
Effective interest rate (percent)						3.10%
CLO Term Loan Maturing September 2029
Debt Instrument [Line Items]
Debt principal amount | €							€ 61,800,000
CLO Term Loan Maturing August 2022
Debt Instrument [Line Items]
Debt principal amount | €		€ 17,400,000
CLO Term Loans
Debt Instrument [Line Items]
Debt principal amount						$ 229.9		33.8
Euribor | CLO Term Loan Maturing September 2018
Debt Instrument [Line Items]
Debt principal amount						0		13.2
Euribor | CLO Term Loan Maturing September 2029
Debt Instrument [Line Items]
Debt principal amount						$ 73		0
Effective interest rate (percent)						2.33%
LIBOR | CLO Term Loan Maturing April 2031
Debt Instrument [Line Items]
Debt principal amount						$ 22.8		0
Effective interest rate (percent)						3.24%
Margin interest rate (as a percent)					1.932%
LIBOR | CLO Term Loan Maturing July 2031
Debt Instrument [Line Items]
Debt principal amount						$ 23.1		0
Effective interest rate (percent)						3.25%
Margin interest rate (as a percent)				1.923%
LIBOR | CLO Term Loan Maturing April 2027
Debt Instrument [Line Items]
Debt principal amount						$ 24.4		0
Effective interest rate (percent)						2.84%
Margin interest rate (as a percent)			1.536%
LIBOR | CLO Term Loan Maturing July 2029
Debt Instrument [Line Items]
Debt principal amount						$ 22.8		0
Effective interest rate (percent)						3.10%
Margin interest rate (as a percent)		1.808%
LIBOR | CLO Term Loan Maturing August 2022
Debt Instrument [Line Items]
Debt principal amount						$ 20.6		0
Effective interest rate (percent)						1.75%
Margin interest rate (as a percent)		1.75%
LIBOR | CLO Term Loan Maturing August 2030
Debt Instrument [Line Items]
Debt principal amount						$ 22.6		$ 0
Effective interest rate (percent)						3.16%
Margin interest rate (as a percent)	1.848%

Borrowings - Outstanding Loans

Borrowings - Outstanding Loans Payable of Consolidated Funds (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Borrowing Outstanding	$ 3,806	$ 3,876.6
Fair Value	3,794.8	3,866.3
Senior secured notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Borrowing Outstanding	3,631.2	3,681
Fair Value	$ 3,621.3	$ 3,672.5
Weighted Average Interest Rate	2.24%	2.45%
Weighted Average Remaining Maturity in Years	11 years 5 months 27 days	10 years 2 months 19 days
Subordinated notes, preferred shares and other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Borrowing Outstanding	$ 174.8	$ 195.6
Fair Value	$ 173.5	$ 193.8
Weighted Average Remaining Maturity in Years	9 years 9 months 15 days	9 years 3 months 3 days

Accrued Compensation and Bene75

Accrued Compensation and Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Accrued performance fee-related compensation	$ 1,803.9	$ 1,307.4
Accrued bonuses	261.2	177.2
Other	110	177.2
Total	$ 2,175.1	$ 1,661.8

Commitments and Contingencies -

Commitments and Contingencies - Unfunded Commitments (Details) $ in Millions	Sep. 30, 2017USD ($)
Segment Reporting Information [Line Items]
Unfunded Commitments	$ 2,830.1
Unfunded commitment subscribed individually by senior Carlyle professionals, operating executives and other professionals	2,500
Corporate Private Equity
Segment Reporting Information [Line Items]
Unfunded Commitments	1,190.1
Real Assets
Segment Reporting Information [Line Items]
Unfunded Commitments	900.6
Global Market Strategies
Segment Reporting Information [Line Items]
Unfunded Commitments	573.9
Investment Solutions
Segment Reporting Information [Line Items]
Unfunded Commitments	$ 165.5

Commitments and Contingencies77

Commitments and Contingencies - Additional Information (Details)	Dec. 12, 2016	Jul. 07, 2010USD ($)	Aug. 04, 2001USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2017USD ($)vehicle	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)vehicle	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2017USD ($)vehicle	Jul. 03, 2017USD ($)
Guarantor Obligations [Line Items]
Liability for potential repayment of previously received performance fees				$ 160,800,000	$ 67,600,000		$ 67,600,000		$ 160,800,000	$ 67,600,000
Amount of accrued giveback obligation of various current and former senior Carlyle professionals and other limited partners of Carlyle Holdings partnerships					38,300,000		38,300,000			38,300,000
Amount of net accrued giveback obligation attributable to Carlyle Holdings					29,300,000		29,300,000			29,300,000
Rent expense					15,200,000	$ 13,900,000	43,400,000	$ 41,300,000
Deferred rent payable				60,300,000	$ 60,700,000		$ 60,700,000		60,300,000	$ 60,700,000
Maximum amount of potential damages according to the liquidator’s expert report (more than)		$ 1,000,000,000
Number of structured finance vehicles invested In petroleum commodities believed stolen | vehicle					2		2			2
Carrying Value				1,265,200,000	$ 1,515,600,000		$ 1,515,600,000		1,265,200,000	$ 1,515,600,000
Number of structured finance vehicles invested in petroleum commodities settled | vehicle					2		2			2
Loss contingency accrual					$ 35,000,000		$ 35,000,000			$ 35,000,000
Claren Road | Affiliated Entity
Guarantor Obligations [Line Items]
Loss contingency accrual				10,800,000					10,800,000
Percentage of economic interest (percent)	63.00%
Allocated share based compensation expense									25,000,000
Impairment of intangible assets (excluding goodwill)									4,400,000
Vermillion Legal Matter
Guarantor Obligations [Line Items]
Amount of investment in petroleum commodities believed stolen					400,000,000		400,000,000			400,000,000
Payments for legal settlements							165,000,000			$ 265,000,000
Legal and professional fees incurred to-date				100,000,000
Carrying Value											$ 54,000,000
Amount of general liability insurance proceeds received related to the settlement of the Vermillion legal matter					$ 74,000,000		$ 177,000,000
Guaranteed Loans
Guarantor Obligations [Line Items]
Aggregate annual incremental borrowings			$ 11,300,000
Margin interest rate (as a percent)			3.00%
Weighted-average rate under credit facility (as a percent)					4.30%		4.30%			4.30%
Outstanding borrowings under credit facility				9,600,000	$ 11,300,000		$ 11,300,000		9,600,000	$ 11,300,000
Contingent Obligations (Giveback)
Guarantor Obligations [Line Items]
Unbilled receivable for giveback obligations from current and former employees				5,600,000	3,400,000		3,400,000		5,600,000	3,400,000
Cash withheld from carried interest distributions for potential giveback obligations				$ 356,900,000	254,400,000		254,400,000		$ 356,900,000	254,400,000
Amount of realized and distributed carried interest subject to potential giveback on after-tax basis					$ 800,000,000		$ 800,000,000			$ 800,000,000

Commitments and Contingencies78

Commitments and Contingencies - Future Minimum Commitments for Leases (Details) $ in Millions	Sep. 30, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 12.6
2,018	48.1
2,019	47.9
2,020	47.4
2,021	43
Thereafter	334.6
Future minimum commitments for leases, total	$ 533.6

Related Party Transactions - Du

Related Party Transactions - Due from Affiliates and Other Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Notes receivable and accrued interest from affiliates	$ 16.8	$ 37.6
Other receivables from unconsolidated funds and affiliates, net	248.6	184
Total	268.8	227.2
Contingent Obligations (Giveback)
Related Party Transaction [Line Items]
Unbilled receivable for giveback obligations from current and former employees	$ 3.4	$ 5.6

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Related Party Transactions [Abstract]
Maximum percentage of interest on amounts due from affiliates (percent)			6.79%
Payment of aircraft related expenses	$ 1.7	$ 1.5	$ 3.9	$ 3.7

Related Party Transactions - 81

Related Party Transactions - Due to Affiliates (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Related Party Transactions [Abstract]
Due to affiliates of Consolidated Funds	$ 0.2	$ 0.2
Due to non-consolidated affiliates	54.2	29.7
Performance-based contingent cash consideration related to acquisitions	34.3	36.1
Amounts owed under the tax receivable agreement	155.9	137.8
Other	19.7	19.8
Total	$ 264.3	$ 223.6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ (1.3)	$ 1	$ 17.7	$ 32.7
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

Non-controlling Interests in 83

Non-controlling Interests in Consolidated Entities - Partnership's Non-Controlling Interests in Consolidated Entities (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated entities	$ 374.7	$ 277.8
Non-Carlyle interests in Consolidated Funds
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated entities	23.5	13.5
Non-Carlyle interests in majority-owned subsidiaries
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated entities	349	331.7
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	$ 2.2	$ (67.4)

Non-controlling Interests in 84

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Noncontrolling Interest [Line Items]
Net income (loss) attributable to other non-controlling interests in consolidated entities	$ 27.6	$ (29.3)	$ 47.4	$ (29.9)
Net loss attributable to redeemable non-controlling interests in consolidated entities	0	0.2	0	0.1
Non-controlling interests in income (loss) of consolidated entities	27.6	(29.1)	47.4	(29.8)
Non-Carlyle interests in Consolidated Funds
Noncontrolling Interest [Line Items]
Net income (loss) attributable to other non-controlling interests in consolidated entities	8.2	(1.2)	8.1	0.2
Non-Carlyle interests in majority-owned subsidiaries
Noncontrolling Interest [Line Items]
Net income (loss) attributable to other non-controlling interests in consolidated entities	11	(24.7)	22.5	(21.6)
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	$ 8.4	$ (3.4)	$ 16.8	$ (8.5)

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Basic
Net income attributable to The Carlyle Group L.P.	$ 44,600,000	$ 800,000	$ 185,200,000	$ 15,300,000
Net income (loss) attributable to common units	$ 44,600,000	$ 800,000	$ 185,200,000	$ 15,300,000
Weighted-average common units outstanding, basic (in shares)	95,198,102	83,602,503	89,815,112	82,062,633
Net income (loss) per common unit (usd per share)	$ 0.47	$ 0.01	$ 2.06	$ 0.19
Diluted
Net income attributable to The Carlyle Group L.P.	$ 44,600,000	$ 800,000	$ 185,200,000	$ 15,300,000
Incremental net income (loss) from assumed exchange of Carlyle Holdings partnership units	97,800,000	(5,700,000)	0	8,100,000
Net income (loss) attributable to common units	$ 142,400,000	$ (4,900,000)	$ 185,200,000	$ 23,400,000
Weighted-average common units outstanding, diluted (in shares)	334,392,424	312,534,968	97,538,190	306,981,103
Net income (loss) per common unit (usd per share)	$ 0.43	$ (0.02)	$ 1.90	$ 0.08

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common units outstanding, basic (in shares)	95,198,102	83,602,503	89,815,112	82,062,633
Weighted-average common units outstanding, diluted (in shares)	334,392,424	312,534,968	97,538,190	306,981,103
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)	95,198,102	83,602,503	89,815,112	82,062,633
Weighted-average common units outstanding, diluted (in shares)	95,198,102	83,602,503	89,815,112	82,062,633
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)	7,756,460	3,569,302	7,125,134	3,181,825
Issuable Carlyle Holdings Partnership units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common units outstanding, basic (in shares)	0		0
Weighted-average common units outstanding, diluted (in shares)	597,944		597,944
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)	228,839,164	224,826,988	0	221,377,938
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)	2,000,754	536,175	0	358,707

Earnings Per Common Unit - Addi

Earnings Per Common Unit - Additional Information (Details) - USD ($)	Aug. 01, 2013	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average common units outstanding, diluted (in shares)		334,392,424	312,534,968	97,538,190	306,981,103
Incremental net income from assumed exchange of Carlyle Holdings partnership units		$ 97,800,000	$ (5,700,000)	$ 0	$ 8,100,000
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)		228,839,164	224,826,988	0	221,377,938
Antidilutive securities excluded from computation of earnings per share (in shares)				227,315,486
Unvested Carlyle Holdings Partnership units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average common units outstanding, diluted (in shares)		2,000,754	536,175	0	358,707
Antidilutive securities excluded from computation of earnings per share (in shares)				1,963,185
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)				7,782

Equity and Equity-Based Compe88

Equity and Equity-Based Compensation - Preferred Unit Issuance (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 13, 2017	Sep. 30, 2017	Sep. 30, 2016
Preferred Units [Line Items]
Proceeds from issuance of preferred units, net of offering costs and expenses		$ 387.6	$ 0
Series A Preferred Stock
Preferred Units [Line Items]
Preferred units, issued (in shares)	16,000,000	16,000,000
Dividend rate, percentage	5.875%
Proceeds from issuance of redeemable preferred stock, gross	$ 400
Proceeds from issuance of preferred units, net of offering costs and expenses	$ 387.6
Redemption price per share (in usd per share)	$ 25
Minimum redemption notice period	30 days
Redemption period window	60 days
Redemption price per share in the event of change of control or tax redemption	$ 25.25
31 Day Following Change Of Control | Series A Preferred Stock
Preferred Units [Line Items]
Minimum redemption notice period	30 days
Redemption period window	60 days
Redemption price per share in the event of change of control or tax redemption	$ 25.50
Distribution increase, percent	5.00%

Equity and Equity-Based Compe89

Equity and Equity-Based Compensation - Additional Information (Details) - USD ($)	Aug. 01, 2013	Dec. 31, 2012	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Jan. 01, 2017	Feb. 29, 2016	May 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for repurchase									$ 200,000,000
Payments to repurchase units			$ 0		$ 200,000	$ 53,600,000	$ 59,100,000
Units repurchased (in shares)					14,190		3,700,000
Number of partnership units exchanged for common units (in shares)			1,646,980		4,634,232
Capital reallocated from non-controlling interests			$ 9,200,000		$ 23,200,000
Number of the Partnership's common units and Carlyle Holdings partnership units available for grant under the Equity Incentive Plan (in shares)								32,645,874		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
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
Compensation not yet recognized			0		$ 0		$ 0
Allocated share based compensation expense			0	$ 0	$ 0	0
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
Tax benefits related to equity-based compensation expense					$ 0
Unrecognized equity-based compensation expense			100,800,000		$ 100,800,000		100,800,000
Weighted-average term for unrecognized compensation expense to be recognized (in years)					7 months 6 days
Unvested Carlyle Holdings Partnership Units | Carlyle Holdings
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expense			42,700,000	40,800,000	$ 121,700,000	147,600,000
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			38,100,000	40,600,000	$ 119,900,000	116,800,000
Tax benefits related to equity-based compensation expense			4,600,000	$ 4,400,000	14,000,000	$ 13,500,000
Unrecognized equity-based compensation expense			$ 190,700,000		$ 190,700,000		$ 190,700,000
Weighted-average term for unrecognized compensation expense to be recognized (in years)					2 years
Unit discount (as a percent, up to)					40.00%

Equity and Equity-Based Compe90

Equity and Equity-Based Compensation - Summary of Status of Non-Vested Equity-Based Awards (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Carlyle Holdings
Unvested Units
Beginning balance (in shares) | shares	17,240,000
Granted (in shares) | shares	0
Vested (in shares) | shares	8,145,924
Forfeited (in shares) | shares	437,314
Ending balance (in shares) | shares	8,656,762
Weighted- Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 22.22
Granted (usd per share) | $ / shares	0
Vested (usd per share) | $ / shares	22.22
Forfeited (usd per share) | $ / shares	22.22
Ending balance (usd per share) | $ / shares	$ 22
The Carlyle Group L.P. | Equity Settled Awards | Deferred Restricted Common Units
Unvested Units
Beginning balance (in shares) | shares	16,705,920
Granted (in shares) | shares	8,226,461
Vested (in shares) | shares	8,288,838
Forfeited (in shares) | shares	453,461
Ending balance (in shares) | shares	16,190,082
Weighted- Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 19.21
Granted (usd per share) | $ / shares	14.14
Vested (usd per share) | $ / shares	19.67
Forfeited (usd per share) | $ / shares	20.22
Ending balance (usd per share) | $ / shares	$ 16.77
The Carlyle Group L.P. | Equity Settled Awards | Unvested Common Units
Unvested Units
Beginning balance (in shares) | shares	38,911
Granted (in shares) | shares	0
Vested (in shares) | shares	31,129
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	7,782
Weighted- Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 21.67
Granted (usd per share) | $ / shares	0
Vested (usd per share) | $ / shares	21.53
Forfeited (usd per share) | $ / shares	0
Ending balance (usd per share) | $ / shares	$ 22.22
The Carlyle Group L.P. | Cash Settled Awards | Phantom Units
Unvested Units
Beginning balance (in shares) | shares	2,520
Granted (in shares) | shares	0
Vested (in shares) | shares	2,520
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	0
Weighted- Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 34.81
Granted (usd per share) | $ / shares	0
Vested (usd per share) | $ / shares	34.81
Forfeited (usd per share) | $ / shares	0
Ending balance (usd per share) | $ / shares	$ 0

Deconsolidation of a Real Est91

Deconsolidation of a Real Estate Development Company - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Real Estate Properties [Line Items]
Deconsolidation loss	$ 65	$ 14	$ 0
Urbplan
Real Estate Properties [Line Items]
Period, in days, of the financial reporting lag		90 days

Deconsolidation of a Real Est92

Deconsolidation of a Real Estate Development Company - Assets and Liabilities Recognized in the Partnership's Condensed Consolidated Balance Sheets (Details) $ in Millions	Dec. 31, 2016USD ($)
Receivables and inventory of a real estate VIE:
Receivables and inventory of a real estate VIE:	$ 145.4
Other assets of a real estate VIE:
Other assets of a real estate VIE:	31.5
Other liabilities of a real estate VIE:
Principal amount of loans payable	144.4
Partnership
Receivables and inventory of a real estate VIE:
Customer and other receivables	99.4
Inventory costs in excess of billings and advances	46
Receivables and inventory of a real estate VIE:	145.4
Other assets of a real estate VIE:
Restricted investments	12.7
Fixed assets, net	0.2
Deferred tax assets	9.1
Other assets	9.5
Other assets of a real estate VIE:	31.5
Loans payable of a real estate VIE at fair value (principal amount of $144.4 million as of December 31, 2016)	79.4
Other liabilities of a real estate VIE:
Accounts payable	14.6
Other liabilities	109.9
Other liabilities related to deconsolidated real estate Vie	124.5
Loans Payable of a real estate VIE | Partnership
Other liabilities of a real estate VIE:
Principal amount of loans payable	$ 144.4

Deconsolidation of a Real Est93

Deconsolidation 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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue of a real estate VIE:
Land development services			$ 104.6	$ 35.5
Investment income			4.4	26
Revenue of a real estate VIE	$ 0	$ 18.7	109	61.5
Interest and other expenses of a real estate VIE:
Costs of products sold and services rendered			64.4	18.9
Interest expense			18.5	36.2
Change in fair value of loans payable			(6.6)	(2.6)
Compensation and benefits			2.8	5.5
G&A and other expenses			58.9	99.9
Loss on deconsolidation			64.5
Interest and other expenses of a real estate VIE:	$ 64.5	$ 82.1	$ 202.5	$ 157.9

Segment Reporting - Additional

Segment Reporting - Additional Information (Details) - segment	Jan. 01, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Number of reportable segments		4	4	4	4
Claren Road
Segment Reporting Information [Line Items]
Percentage of economic interest (percent)						55.00%
Revised ownership interest (percent)	63.00%

Segment Reporting - Reportable

Segment Reporting - Reportable Segments Financial Data (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Fund level fee revenues
Fund management fees	$ 262.5	$ 255.1	$ 747.6	$ 817.1
Performance fees
Realized	411.8	383.4	852.7	905.1
Unrealized	(126.2)	(168.7)	658.1	(334.3)
Total performance fees	285.6	214.7	1,510.8	570.8
Investment income (loss)
Realized	15.5	40.7	42	92.2
Unrealized	21.7	29.8	100.5	34
Total investment income	37.2	70.5	142.5	126.2
Other income	2.9	3	8.5	6.2
Total revenues	639.9	607.3	2,668.4	1,698.4
Performance fee related
Realized	189.4	189	401.9	423
Unrealized	(51.8)	(78.1)	309.9	(146.1)
Total compensation and benefits	392.7	346.6	1,424.7	1,013.2
General, administrative, and other indirect expenses	(18.7)	188.9	170.9	362.6
Interest expense	16.9	15.6	48.4	46.3
Total expenses	492.6	661.8	2,007.5	1,668.1
Net Performance Fees	148	103.8	799	293.9
Assets	11,686.6		11,686.6		$ 9,973
Corporate Private Equity
Performance fees
Total performance fees	159.6	186.5	1,147.4	283
Real Assets
Performance fees
Total performance fees	74.5	(19.1)	214	198.6
Global Market Strategies
Performance fees
Total performance fees	17.2	17.8	50.8	26.8
Investment Solutions
Performance fees
Total performance fees	34.3	29.5	98.6	62.4
Operating Segments
Fund level fee revenues
Fund management fees	278.4	260.4	791.2	820
Portfolio advisory fees, net	4.1	3.8	13	12.8
Transaction fees, net	6.1	1.4	15	24.3
Total fund level fee revenues	288.6	265.6	819.2	857.1
Performance fees
Realized	411	380.9	846.7	919.2
Unrealized	(125.6)	(125.9)	712.7	(305.9)
Total performance fees	285.4	255	1,559.4	613.3
Investment income (loss)
Realized	(53.4)	11.1	(48.2)	27.9
Unrealized	18.1	2.2	54.7	7.9
Total investment income	(35.3)	13.3	6.5	35.8
Interest income	5.4	2.5	11.2	8
Other income	3.4	3.1	11.4	8.9
Total revenues	547.5	539.5	2,407.7	1,523.1
Compensation and benefits
Direct base compensation	132.5	107.1	344.2	337.4
Indirect base compensation	44.8	36.9	133.4	115.1
Equity-based compensation	30.4	32.9	97.2	95.2
Performance fee related
Realized	194.1	194.6	412.4	429.5
Unrealized	(55.7)	(81.9)	306.5	(149.2)
Total compensation and benefits	346.1	289.6	1,293.7	828
General, administrative, and other indirect expenses	(26.5)	173.6	139.5	326.7
Depreciation and amortization expense	8.2	7.2	23.2	21.8
Interest expense	17	15.6	48.4	46.3
Total expenses	344.8	486	1,504.8	1,222.8
Economic Net Income	202.7	53.5	902.9	300.3
Net Performance Fees	147	142.3	840.5	333
Investment Income (Loss)	(35.3)	13.3	6.5	35.8
Equity-based compensation	30.4	32.9	97.2	95.2
Reserve for Litigation and Contingencies	(25)	100	(25)	100
Fee Related Earnings	96.4	30.8	128.1	126.7
Realized Net Performance Fees	216.9	186.3	434.3	489.7
Realized Investment Income (Loss)	(53.4)	11.1	(48.2)	27.9
Distributable Earnings	259.9	228.2	514.2	644.3
Assets	7,394.6		7,394.6
Operating Segments | Corporate Private Equity
Fund level fee revenues
Fund management fees	118.3	122.9	351.7	376.9
Portfolio advisory fees, net	3.6	2.9	11.9	11.2
Transaction fees, net	5.3	1.4	14.2	24.3
Total fund level fee revenues	127.2	127.2	377.8	412.4
Performance fees
Realized	345.4	311.1	668.8	775.2
Unrealized	(193.2)	(124.2)	465	(496.2)
Total performance fees	152.2	186.9	1,133.8	279
Investment income (loss)
Realized	6.5	24.1	15.6	46.6
Unrealized	4.1	(9.6)	22.9	(12.7)
Total investment income	10.6	14.5	38.5	33.9
Interest income	1.8	0.9	3.7	2.7
Other income	1.6	1.3	4.2	4
Total revenues	293.4	330.8	1,558	732
Compensation and benefits
Direct base compensation	65.3	52.7	175.4	165.8
Indirect base compensation	18.3	17.8	55	55.6
Equity-based compensation	14.5	19.8	47.3	56
Performance fee related
Realized	147.7	143.5	295.4	345.4
Unrealized	(76.1)	(57.8)	221.1	(219.9)
Total compensation and benefits	169.7	176	794.2	402.9
General, administrative, and other indirect expenses	20.5	81.4	83.9	144.3
Depreciation and amortization expense	4.1	3.4	11.5	10.2
Interest expense	7	7	21.1	21.2
Total expenses	201.3	267.8	910.7	578.6
Economic Net Income	92.1	63	647.3	153.4
Net Performance Fees	80.6	101.2	617.3	153.5
Investment Income (Loss)	10.6	14.5	38.5	33.9
Equity-based compensation	14.5	19.8	47.3	56
Reserve for Litigation and Contingencies	(12.5)	49.8	(12.5)	49.8
Fee Related Earnings	2.9	16.9	26.3	71.8
Realized Net Performance Fees	197.7	167.6	373.4	429.8
Realized Investment Income (Loss)	6.5	24.1	15.6	46.6
Distributable Earnings	207.1	208.6	415.3	548.2
Assets	3,472.9		3,472.9
Operating Segments | Real Assets
Fund level fee revenues
Fund management fees	71.4	60.3	185.6	192
Portfolio advisory fees, net	0.4	0	0.6	0.1
Transaction fees, net	0.8	0	0.8	0
Total fund level fee revenues	72.6	60.3	187	192.1
Performance fees
Realized	20.4	19.2	73.6	79.8
Unrealized	60.8	2	200.1	165.8
Total performance fees	81.2	21.2	273.7	245.6
Investment income (loss)
Realized	(64.6)	(14.1)	(72.4)	(21.4)
Unrealized	12.4	4.5	24.4	6.5
Total investment income	(52.2)	(9.6)	(48)	(14.9)
Interest income	1	0.4	2	1.3
Other income	0.6	0.4	1.3	1
Total revenues	103.2	72.7	416	425.1
Compensation and benefits
Direct base compensation	24.5	17.2	61.6	55.4
Indirect base compensation	14.8	8.9	45.6	28.2
Equity-based compensation	8.7	7.1	26.8	20.3
Performance fee related
Realized	9.2	8.7	33.4	34.8
Unrealized	21.6	(15.7)	60.1	55.2
Total compensation and benefits	78.8	26.2	227.5	193.9
General, administrative, and other indirect expenses	10.5	37.2	52.6	70.7
Depreciation and amortization expense	1.9	1.4	5.3	4.4
Interest expense	4.2	4.1	12.7	12.1
Total expenses	95.4	68.9	298.1	281.1
Economic Net Income	7.8	3.8	117.9	144
Net Performance Fees	50.4	28.2	180.2	155.6
Investment Income (Loss)	(52.2)	(9.6)	(48)	(14.9)
Equity-based compensation	8.7	7.1	26.8	20.3
Reserve for Litigation and Contingencies	(5.8)	21.6	(5.8)	21.6
Fee Related Earnings	12.5	13.9	6.7	45.2
Realized Net Performance Fees	11.2	10.5	40.2	45
Realized Investment Income (Loss)	(64.6)	(14.1)	(72.4)	(21.4)
Distributable Earnings	(40.9)	10.3	(25.5)	68.8
Assets	1,861.8		1,861.8
Operating Segments | Global Market Strategies
Fund level fee revenues
Fund management fees	47.6	44.1	140.8	147.4
Portfolio advisory fees, net	0.1	0.1	0.5	0.7
Transaction fees, net	0	0	0	0
Total fund level fee revenues	47.7	44.2	141.3	148.1
Performance fees
Realized	15	14.3	37.8	21.5
Unrealized	2.6	3.1	15.5	4.6
Total performance fees	17.6	17.4	53.3	26.1
Investment income (loss)
Realized	4.7	1.1	8.6	2.7
Unrealized	0	7.1	4.3	14.9
Total investment income	4.7	8.2	12.9	17.6
Interest income	2	1.1	4.6	3.7
Other income	1.1	1.2	5.6	3.5
Total revenues	73.1	72.1	217.7	199
Compensation and benefits
Direct base compensation	23	20.9	55.3	66.3
Indirect base compensation	6.7	7.5	20.9	22.7
Equity-based compensation	5.1	4.4	16.9	13.8
Performance fee related
Realized	7.3	6.6	18.2	8.1
Unrealized	0.8	1.3	6.9	2.2
Total compensation and benefits	42.9	40.7	118.2	113.1
General, administrative, and other indirect expenses	(63.6)	37.7	(18.6)	77.1
Depreciation and amortization expense	1.3	1.5	3.8	4.6
Interest expense	4.2	3	10	8.5
Total expenses	(15.2)	82.9	113.4	203.3
Economic Net Income	88.3	(10.8)	104.3	(4.3)
Net Performance Fees	9.5	9.5	28.2	15.8
Investment Income (Loss)	4.7	8.2	12.9	17.6
Equity-based compensation	5.1	4.4	16.9	13.8
Reserve for Litigation and Contingencies	(4.1)	19	(4.1)	19
Fee Related Earnings	75.1	(5.1)	76	(4.9)
Realized Net Performance Fees	7.7	7.7	19.6	13.4
Realized Investment Income (Loss)	4.7	1.1	8.6	2.7
Distributable Earnings	87.5	3.7	104.2	11.2
Assets	996.5		996.5
Operating Segments | Investment Solutions
Fund level fee revenues
Fund management fees	41.1	33.1	113.1	103.7
Portfolio advisory fees, net	0	0.8	0	0.8
Transaction fees, net	0	0	0	0
Total fund level fee revenues	41.1	33.9	113.1	104.5
Performance fees
Realized	30.2	36.3	66.5	42.7
Unrealized	4.2	(6.8)	32.1	19.9
Total performance fees	34.4	29.5	98.6	62.6
Investment income (loss)
Realized	0	0	0	0
Unrealized	1.6	0.2	3.1	(0.8)
Total investment income	1.6	0.2	3.1	(0.8)
Interest income	0.6	0.1	0.9	0.3
Other income	0.1	0.2	0.3	0.4
Total revenues	77.8	63.9	216	167
Compensation and benefits
Direct base compensation	19.7	16.3	51.9	49.9
Indirect base compensation	5	2.7	11.9	8.6
Equity-based compensation	2.1	1.6	6.2	5.1
Performance fee related
Realized	29.9	35.8	65.4	41.2
Unrealized	(2)	(9.7)	18.4	13.3
Total compensation and benefits	54.7	46.7	153.8	118.1
General, administrative, and other indirect expenses	6.1	17.3	21.6	34.6
Depreciation and amortization expense	0.9	0.9	2.6	2.6
Interest expense	1.6	1.5	4.6	4.5
Total expenses	63.3	66.4	182.6	159.8
Economic Net Income	14.5	(2.5)	33.4	7.2
Net Performance Fees	6.5	3.4	14.8	8.1
Investment Income (Loss)	1.6	0.2	3.1	(0.8)
Equity-based compensation	2.1	1.6	6.2	5.1
Reserve for Litigation and Contingencies	(2.6)	9.6	(2.6)	9.6
Fee Related Earnings	5.9	5.1	19.1	14.6
Realized Net Performance Fees	0.3	0.5	1.1	1.5
Realized Investment Income (Loss)	0	0	0	0
Distributable Earnings	6.2	$ 5.6	20.2	$ 16.1
Assets	$ 1,063.4		$ 1,063.4

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues	$ 639.9	$ 607.3	$ 2,668.4	$ 1,698.4
Expenses	492.6	661.8	2,007.5	1,668.1
Other income	18.6	4.8	76.4	3.1
Economic net income	165.9	(49.7)	737.3	33.4
Total assets	11,686.6		11,686.6		$ 9,973
Total Reportable Segments
Segment Reporting Information [Line Items]
Revenues	547.5	539.5	2,407.7	1,523.1
Expenses	344.8	486	1,504.8	1,222.8
Other income	0	0	0	0
Economic net income	202.7	53.5	902.9	300.3
Total assets	7,394.6		7,394.6
Reconciling Items
Segment Reporting Information [Line Items]
Revenues	47.7	24.8	128.1	67.5
Expenses	95.5	134.6	305.5	339.4
Other income	0	0	0	0
Economic net income	(47.8)	(109.8)	(177.4)	(271.9)
Total assets	(203.5)		(203.5)
Consolidated Funds | Consolidated Funds
Segment Reporting Information [Line Items]
Revenues	44.7	43	132.6	107.8
Expenses	52.3	41.2	197.2	105.9
Other income	18.6	4.8	76.4	3.1
Economic net income	11	$ 6.6	11.8	$ 5
Total assets	$ 4,495.5		$ 4,495.5		$ 4,684.7

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Other non-operating expense (income)	$ 0	$ (3.7)	$ 0.1	$ 0.8
Total expenses adjustment	492.6	661.8	2,007.5	1,668.1
Reconciling Items
Segment Reporting Information [Line Items]
Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments	58.3	50.6	183.8	175.3
Acquisition related charges, including amortization of intangibles and impairment	7.2	27.7	25.2	67
Other non-operating expense (income)	0	(3.7)	0.1	0.8
Tax expense associated with performance fees	(1.7)	(2)	(7)	(16.1)
Non-Carlyle economic interests in acquired businesses and the real estate VIE	46.2	69.4	128.8	120.7
Severance and other adjustments	0.6	1.5	10.9	10.3
Total expenses adjustment	$ 95.5	$ 134.6	$ 305.5	$ 339.4

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Income (loss) before provision for income taxes	$ 165.9	$ (49.7)	$ 737.3	$ 33.4
Adjustments:
Other non-operating expense (income)	0	(3.7)	0.1	0.8
Net (income) loss attributable to non-controlling interests in consolidated entities	(27.6)	29.1	(47.4)	29.8
Net performance fees	148	103.8	799	293.9
Reconciling Items
Adjustments:
Equity-based compensation issued in conjunction with the initial public offering, acquisitions and strategic investments	58.3	50.6	183.8	175.3
Acquisition related charges, including amortization of intangibles and impairment	7.2	27.7	25.2	67
Other non-operating expense (income)	0	(3.7)	0.1	0.8
Tax expense associated with performance fees	(1.7)	(2)	(7)	(16.1)
Net (income) loss attributable to non-controlling interests in consolidated entities	(27.6)	29.1	(47.4)	29.8
Severance and other adjustments	0.6	1.5	10.9	10.1
Net performance fees	(1)	38.5	41.5	39.1
Operating Segments
Adjustments:
Economic Net Income	202.7	53.5	902.9	300.3
Net performance fees	147	142.3	840.5	333
Investment Income (Loss)	(35.3)	13.3	6.5	35.8
Equity-based compensation	30.4	32.9	97.2	95.2
Fee Related Earnings	96.4	30.8	128.1	126.7
Realized performance fees, net of related compensation	216.9	186.3	434.3	489.7
Realized investment income	(53.4)	11.1	(48.2)	27.9
Distributable Earnings	$ 259.9	$ 228.2	$ 514.2	$ 644.3

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Performance fees
Realized	$ 411.8	$ 383.4	$ 852.7	$ 905.1
Unrealized	(126.2)	(168.7)	658.1	(334.3)
Total performance fees	285.6	214.7	1,510.8	570.8
Performance fee related compensation expense
Realized	189.4	189	401.9	423
Unrealized	(51.8)	(78.1)	309.9	(146.1)
Total performance fee related compensation expense	137.6	110.9	711.8	276.9
Net performance fees
Realized	222.4	194.4	450.8	482.1
Unrealized	(74.4)	(90.6)	348.2	(188.2)
Total net performance fees	148	103.8	799	293.9
Investment income (loss)
Realized	15.5	40.7	42	92.2
Unrealized	21.7	29.8	100.5	34
Total investment income	37.2	70.5	142.5	126.2
Adjustments
Performance fees
Realized	(0.8)	(2.5)	(6)	14.1
Unrealized	0.6	42.8	54.6	28.4
Total performance fees	(0.2)	40.3	48.6	42.5
Performance fee related compensation expense
Realized	4.7	5.6	10.5	6.5
Unrealized	(3.9)	(3.8)	(3.4)	(3.1)
Total performance fee related compensation expense	0.8	1.8	7.1	3.4
Net performance fees
Realized	(5.5)	(8.1)	(16.5)	7.6
Unrealized	4.5	46.6	58	31.5
Total net performance fees	(1)	38.5	41.5	39.1
Investment income (loss)
Realized	(68.9)	(29.6)	(90.2)	(64.3)
Unrealized	(3.6)	(27.6)	(45.8)	(26.1)
Total investment income	(72.5)	(57.2)	(136)	(90.4)
Total Reportable Segments
Performance fees
Realized	411	380.9	846.7	919.2
Unrealized	(125.6)	(125.9)	712.7	(305.9)
Total performance fees	285.4	255	1,559.4	613.3
Performance fee related compensation expense
Realized	194.1	194.6	412.4	429.5
Unrealized	(55.7)	(81.9)	306.5	(149.2)
Total performance fee related compensation expense	138.4	112.7	718.9	280.3
Net performance fees
Realized	216.9	186.3	434.3	489.7
Unrealized	(69.9)	(44)	406.2	(156.7)
Total net performance fees	147	142.3	840.5	333
Investment income (loss)
Realized	(53.4)	11.1	(48.2)	27.9
Unrealized	18.1	2.2	54.7	7.9
Total investment income	$ (35.3)	$ 13.3	$ 6.5	$ 35.8

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Oct. 31, 2017$ / shares
Subsequent Event [Line Items]
Distribution per common unit (usd per share)	$ 0.56
Series A Preferred Stock
Subsequent Event [Line Items]
Distribution per common unit (usd per share)	$ 0.375347

Supplemental Financial Infor101

Supplemental Financial Information - Supplemental Financial Position (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 1,355.7	$ 670.9	$ 1,043.3	$ 991.5
Cash and cash equivalents held at Consolidated Funds	195.4	761.5
Restricted cash	9.6	13.1
Corporate treasury investments	117.4	190.2
Accrued performance fees	3,498.6	2,481.1
Investments	1,480.9	1,107
Investments of Consolidated Funds	4,235.8	3,893.7
Due from affiliates and other receivables, net	268.8	227.2
Due from affiliates and other receivables of Consolidated Funds, net	64.3	29.5
Receivables and inventory of a real estate VIE		145.4
Fixed assets, net	100.1	106.1
Deposits and other	58.5	39.4
Other assets of a real estate VIE		31.5
Intangible assets, net	38	42
Deferred tax assets	263.5	234.4
Total assets	11,686.6	9,973
Liabilities and partners’ capital
Debt obligations	1,515.6	1,265.2
Loans payable of Consolidated Funds	3,794.8	3,866.3
Loans payable of a real estate VIE at fair value (principal amount of $144.4 million as of December 31, 2016)	0	79.4
Accounts payable, accrued expenses and other liabilities	308.9	369.8
Accrued compensation and benefits	2,175.1	1,661.8
Due to affiliates	264.3	223.6
Deferred revenue	236	54
Deferred tax liabilities	77.1	76.6
Other liabilities of Consolidated Funds	475.4	637
Other liabilities of a real estate VIE	0	124.5
Accrued giveback obligations	67.6	160.8
Total liabilities	8,914.8	8,519
Series A preferred units	387.6
Partners’ capital (common units 97,805,907 and 84,610,951 issued and outstanding as of September 30, 2017 and December 31, 2016, respectively)	660.4	403.1
Accumulated other comprehensive income (loss)	(69.4)	(95.2)
Non-controlling interests in consolidated entities	374.7	277.8
Non-controlling interests in Carlyle Holdings	1,418.5	868.3
Total partners’ capital	2,771.8	1,454
Total liabilities and partners’ capital	11,686.6	9,973
Consolidated Entities and Consolidated Funds | Consolidated Operating Entities
Assets
Cash and cash equivalents	1,355.7	670.9
Cash and cash equivalents held at Consolidated Funds	0	0
Restricted cash	9.6	13.1
Corporate treasury investments	117.4	190.2
Accrued performance fees	3,498.6	2,481.1
Investments	1,679.9	1,272.2
Investments of Consolidated Funds	0	0
Due from affiliates and other receivables, net	273.3	231
Due from affiliates and other receivables of Consolidated Funds, net	0	0
Receivables and inventory of a real estate VIE		145.4
Fixed assets, net	100.1	106.1
Deposits and other	58.5	39.4
Other assets of a real estate VIE		31.5
Intangible assets, net	38	42
Deferred tax assets	263.5	234.4
Total assets		5,457.3
Liabilities and partners’ capital
Debt obligations	1,515.6	1,265.2
Loans payable of Consolidated Funds	0	0
Loans payable of a real estate VIE at fair value (principal amount of $144.4 million as of December 31, 2016)		79.4
Accounts payable, accrued expenses and other liabilities	308.9	369.8
Accrued compensation and benefits	2,175.1	1,661.8
Due to affiliates	264.1	223.4
Deferred revenue	236	54
Deferred tax liabilities	77.1	76.6
Other liabilities of Consolidated Funds	0	0
Other liabilities of a real estate VIE		124.5
Accrued giveback obligations	67.6	160.8
Total liabilities	4,644.4	4,015.5
Series A preferred units	387.6
Partners’ capital (common units 97,805,907 and 84,610,951 issued and outstanding as of September 30, 2017 and December 31, 2016, respectively)	660.4	403.1
Accumulated other comprehensive income (loss)	(68.9)	(94.9)
Non-controlling interests in consolidated entities	351.2	264.3
Non-controlling interests in Carlyle Holdings	1,419.9	869.3
Total partners’ capital	2,750.2	1,441.8
Total liabilities and partners’ capital	7,394.6	5,457.3
Consolidated Entities and Consolidated Funds | Consolidated Funds
Assets
Cash and cash equivalents	0	0
Cash and cash equivalents held at Consolidated Funds	195.4	761.5
Restricted cash	0	0
Corporate treasury investments	0	0
Accrued performance fees	0	0
Investments	0	0
Investments of Consolidated Funds	4,235.8	3,893.7
Due from affiliates and other receivables, net	0	0
Due from affiliates and other receivables of Consolidated Funds, net	64.3	29.5
Receivables and inventory of a real estate VIE		0
Fixed assets, net	0	0
Deposits and other	0	0
Other assets of a real estate VIE		0
Intangible assets, net	0	0
Deferred tax assets	0	0
Total assets	4,495.5	4,684.7
Liabilities and partners’ capital
Debt obligations	0	0
Loans payable of Consolidated Funds	3,794.8	3,866.3
Loans payable of a real estate VIE at fair value (principal amount of $144.4 million as of December 31, 2016)		0
Accounts payable, accrued expenses and other liabilities	0	0
Accrued compensation and benefits	0	0
Due to affiliates	0.2	0.2
Deferred revenue	0	0
Deferred tax liabilities	0	0
Other liabilities of Consolidated Funds	507.4	669
Other liabilities of a real estate VIE		0
Accrued giveback obligations	0	0
Total liabilities	4,302.4	4,535.5
Series A preferred units	0
Partners’ capital (common units 97,805,907 and 84,610,951 issued and outstanding as of September 30, 2017 and December 31, 2016, respectively)	46.6	36.7
Accumulated other comprehensive income (loss)	3	(1.5)
Non-controlling interests in consolidated entities	23.5	13.5
Non-controlling interests in Carlyle Holdings	120	100.5
Total partners’ capital	193.1	149.2
Total liabilities and partners’ capital	4,495.5	4,684.7
Eliminations
Assets
Cash and cash equivalents	0	0
Cash and cash equivalents held at Consolidated Funds	0	0
Restricted cash	0	0
Corporate treasury investments	0	0
Accrued performance fees	0	0
Investments	(199)	(165.2)
Investments of Consolidated Funds	0	0
Due from affiliates and other receivables, net	(4.5)	(3.8)
Due from affiliates and other receivables of Consolidated Funds, net	0	0
Receivables and inventory of a real estate VIE		0
Fixed assets, net	0	0
Deposits and other	0	0
Other assets of a real estate VIE		0
Intangible assets, net	0	0
Deferred tax assets	0	0
Total assets	(203.5)	(169)
Liabilities and partners’ capital
Debt obligations	0	0
Loans payable of Consolidated Funds	0	0
Loans payable of a real estate VIE at fair value (principal amount of $144.4 million as of December 31, 2016)		0
Accounts payable, accrued expenses and other liabilities	0	0
Accrued compensation and benefits	0	0
Due to affiliates	0	0
Deferred revenue	0	0
Deferred tax liabilities	0	0
Other liabilities of Consolidated Funds	(32)	(32)
Other liabilities of a real estate VIE		0
Accrued giveback obligations	0	0
Total liabilities	(32)	(32)
Series A preferred units	0
Partners’ capital (common units 97,805,907 and 84,610,951 issued and outstanding as of September 30, 2017 and December 31, 2016, respectively)	(46.6)	(36.7)
Accumulated other comprehensive income (loss)	(3.5)	1.2
Non-controlling interests in consolidated entities	0	0
Non-controlling interests in Carlyle Holdings	(121.4)	(101.5)
Total partners’ capital	(171.5)	(137)
Total liabilities and partners’ capital	$ (203.5)	$ (169)

Supplemental Financial Infor102

Supplemental Financial Information - Supplemental Financial Position (Additional Information) (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Condensed Balance Sheet Statements, Captions [Line Items]
Principal amount		$ 144.4
Consolidated Entities and Consolidated Funds | Consolidated Operating Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Principal amount		$ 144.4

Supplemental Financial Infor103

Supplemental Financial Information - Supplemental Results of Operations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues
Fund management fees	$ 262,500,000	$ 255,100,000	$ 747,600,000	$ 817,100,000
Performance fees
Realized	411,800,000	383,400,000	852,700,000	905,100,000
Unrealized	(126,200,000)	(168,700,000)	658,100,000	(334,300,000)
Total performance fees	285,600,000	214,700,000	1,510,800,000	570,800,000
Investment income (loss)
Realized	15,500,000	40,700,000	42,000,000	92,200,000
Unrealized	21,700,000	29,800,000	100,500,000	34,000,000
Total investment income	37,200,000	70,500,000	142,500,000	126,200,000
Interest and other income	9,900,000	5,300,000	25,900,000	15,000,000
Interest and other income of Consolidated Funds	44,700,000	43,000,000	132,600,000	107,800,000
Revenue of a real estate VIE		18,700,000	109,000,000	61,500,000
Total revenues	639,900,000	607,300,000	2,668,400,000	1,698,400,000
Compensation and benefits
Base compensation	174,100,000	154,300,000	471,100,000	470,500,000
Equity-based compensation	81,000,000	81,400,000	241,800,000	265,800,000
Performance fee related
Realized	189,400,000	189,000,000	401,900,000	423,000,000
Unrealized	(51,800,000)	(78,100,000)	309,900,000	(146,100,000)
Total compensation and benefits	392,700,000	346,600,000	1,424,700,000	1,013,200,000
General, administrative and other expenses	(18,700,000)	188,900,000	170,900,000	362,600,000
Interest	16,900,000	15,600,000	48,400,000	46,300,000
Interest and other expenses of Consolidated Funds	37,200,000	32,300,000	160,900,000	87,300,000
Interest and other expenses of a real estate VIE and loss on deconsolidation	64,500,000	82,100,000	202,500,000	157,900,000
Other non-operating expense (income)	0	(3,700,000)	100,000	800,000
Total expenses	492,600,000	661,800,000	2,007,500,000	1,668,100,000
Other income
Net investment gains of Consolidated Funds	18,600,000	4,800,000	76,400,000	3,100,000
Income (loss) before provision for income taxes	165,900,000	(49,700,000)	737,300,000	33,400,000
Provision (Benefit) for income taxes	(1,300,000)	1,000,000	17,700,000	32,700,000
Net income (loss)	167,200,000	(50,700,000)	719,600,000	700,000
Net loss attributable to non-controlling interests in consolidated entities	27,600,000	(29,100,000)	47,400,000	(29,800,000)
Net income (loss) attributable to Carlyle Holdings	139,600,000	(21,600,000)	672,200,000	30,500,000
Net (income) loss attributable to non-controlling interests in Carlyle Holdings	95,000,000	(22,400,000)	487,000,000	15,200,000
Net income attributable to The Carlyle Group L.P.	44,600,000	800,000	185,200,000	15,300,000
Consolidated Entities and Consolidated Funds | Consolidated Operating Entities
Revenues
Fund management fees	267,500,000	259,100,000	761,200,000	827,500,000
Performance fees
Realized	412,300,000	383,400,000	855,200,000	905,300,000
Unrealized	(126,200,000)	(168,700,000)	658,100,000	(334,300,000)
Total performance fees	286,100,000	214,700,000	1,513,300,000	571,000,000
Investment income (loss)
Realized	15,400,000	40,300,000	42,600,000	92,700,000
Unrealized	26,100,000	43,000,000	105,500,000	45,100,000
Total investment income	41,500,000	83,300,000	148,100,000	137,800,000
Interest and other income	18,000,000	5,400,000	44,200,000	16,300,000
Interest and other income of Consolidated Funds	0	0	0	0
Revenue of a real estate VIE		18,700,000	109,000,000	61,500,000
Total revenues	613,100,000	581,200,000	2,575,800,000	1,614,100,000
Compensation and benefits
Base compensation	174,100,000	154,300,000	471,100,000	470,500,000
Equity-based compensation	81,000,000	81,400,000	241,800,000	265,800,000
Performance fee related
Realized	189,400,000	189,000,000	401,900,000	423,000,000
Unrealized	(51,800,000)	(78,100,000)	309,900,000	(146,100,000)
Total compensation and benefits	392,700,000	346,600,000	1,424,700,000	1,013,200,000
General, administrative and other expenses	(18,700,000)	188,900,000	170,900,000	362,600,000
Interest	16,900,000	15,600,000	48,400,000	46,300,000
Interest and other expenses of Consolidated Funds	0	0	0	0
Interest and other expenses of a real estate VIE and loss on deconsolidation	64,500,000	82,100,000	202,500,000	157,900,000
Other non-operating expense (income)		(3,700,000)	100,000	800,000
Total expenses	455,400,000	629,500,000	1,846,600,000	1,580,800,000
Other income
Net investment gains of Consolidated Funds	0	0	0	0
Income (loss) before provision for income taxes	157,700,000	(48,300,000)	729,200,000	33,300,000
Provision (Benefit) for income taxes	(1,300,000)	1,000,000	17,700,000	32,700,000
Net income (loss)	159,000,000	(49,300,000)	711,500,000	600,000
Net loss attributable to non-controlling interests in consolidated entities	19,400,000	(27,700,000)	39,300,000	(29,900,000)
Net income (loss) attributable to Carlyle Holdings	139,600,000	(21,600,000)	672,200,000	30,500,000
Net (income) loss attributable to non-controlling interests in Carlyle Holdings	95,000,000	(22,400,000)	487,000,000	15,200,000
Net income attributable to The Carlyle Group L.P.	44,600,000	800,000	185,200,000	15,300,000
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	0	0	0	0
Interest and other income	0	0	0	0
Interest and other income of Consolidated Funds	44,700,000	43,000,000	132,600,000	107,800,000
Revenue of a real estate VIE		0	0	0
Total revenues	44,700,000	43,000,000	132,600,000	107,800,000
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	0	0	0
Interest	0	0	0	0
Interest and other expenses of Consolidated Funds	52,300,000	41,200,000	197,200,000	105,900,000
Interest and other expenses of a real estate VIE and loss on deconsolidation	0	0	0	0
Other non-operating expense (income)		0	0	0
Total expenses	52,300,000	41,200,000	197,200,000	105,900,000
Other income
Net investment gains of Consolidated Funds	18,600,000	4,800,000	76,400,000	3,100,000
Income (loss) before provision for income taxes	11,000,000	6,600,000	11,800,000	5,000,000
Provision (Benefit) for income taxes	0	0	0	0
Net income (loss)	11,000,000	6,600,000	11,800,000	5,000,000
Net loss attributable to non-controlling interests in consolidated entities	0	0	0	0
Net income (loss) attributable to Carlyle Holdings	11,000,000	6,600,000	11,800,000	5,000,000
Net (income) loss attributable to non-controlling interests in Carlyle Holdings	0	0	0	0
Net income attributable to The Carlyle Group L.P.	11,000,000	6,600,000	11,800,000	5,000,000
Eliminations
Revenues
Fund management fees	(5,000,000)	(4,000,000)	(13,600,000)	(10,400,000)
Performance fees
Realized	(500,000)	0	(2,500,000)	(200,000)
Unrealized	0	0	0	0
Total performance fees	(500,000)	0	(2,500,000)	(200,000)
Investment income (loss)
Realized	100,000	400,000	(600,000)	(500,000)
Unrealized	(4,400,000)	(13,200,000)	(5,000,000)	(11,100,000)
Total investment income	(4,300,000)	(12,800,000)	(5,600,000)	(11,600,000)
Interest and other income	(8,100,000)	(100,000)	(18,300,000)	(1,300,000)
Interest and other income of Consolidated Funds	0	0	0	0
Revenue of a real estate VIE		0	0	0
Total revenues	(17,900,000)	(16,900,000)	(40,000,000)	(23,500,000)
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	0	0	0
Interest	0	0	0	0
Interest and other expenses of Consolidated Funds	(15,100,000)	(8,900,000)	(36,300,000)	(18,600,000)
Interest and other expenses of a real estate VIE and loss on deconsolidation	0	0	0	0
Other non-operating expense (income)		0	0	0
Total expenses	(15,100,000)	(8,900,000)	(36,300,000)	(18,600,000)
Other income
Net investment gains of Consolidated Funds	0	0	0	0
Income (loss) before provision for income taxes	(2,800,000)	(8,000,000)	(3,700,000)	(4,900,000)
Provision (Benefit) for income taxes	0	0	0	0
Net income (loss)	(2,800,000)	(8,000,000)	(3,700,000)	(4,900,000)
Net loss attributable to non-controlling interests in consolidated entities	8,200,000	(1,400,000)	8,100,000	100,000
Net income (loss) attributable to Carlyle Holdings	(11,000,000)	(6,600,000)	(11,800,000)	(5,000,000)
Net (income) loss attributable to non-controlling interests in Carlyle Holdings	0	0	0	0
Net income attributable to The Carlyle Group L.P.	$ (11,000,000)	$ (6,600,000)	$ (11,800,000)	$ (5,000,000)

Supplemental Financial Infor104

Supplemental Financial Information - Supplemental Statement of Cash Flows (Details) - USD ($)	3 Months Ended		9 Months Ended		20 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017
Cash flows from operating activities
Net income			$ (711,500,000)	$ (600,000)
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization			30,900,000	52,600,000
Equity-based compensation	$ 81,000,000	$ 81,400,000	241,800,000	265,800,000
Non-cash performance fees			(561,500,000)	108,000,000
Other non-cash amounts			(8,200,000)	(19,200,000)
Investment income			(129,500,000)	(135,800,000)
Purchases of investments			(445,000,000)	(262,700,000)
Proceeds from the sale of investments			302,700,000	236,700,000
Payments of contingent consideration			(22,500,000)	(82,600,000)
Deconsolidation of Claren Road			(23,300,000)	0
Deconsolidation of Urbplan (see Note 15)	65,000,000		14,000,000	0
Change in deferred taxes, net			(8,700,000)	3,700,000
Change in due from affiliates and other receivables			(78,800,000)	700,000
Change in receivables and inventory of a real estate VIE			(14,500,000)	45,100,000
Change in deposits and other			(7,100,000)	6,000,000
Change in other assets of a real estate VIE			1,600,000	33,100,000
Change in accounts payable, accrued expenses and other liabilities			1,900,000	71,800,000
Change in accrued compensation and benefits			42,200,000	32,400,000
Change in due to affiliates			15,000,000	(22,400,000)
Change in other liabilities of a real estate VIE			47,900,000	(1,200,000)
Change in deferred revenue			178,600,000	154,900,000
Net cash provided by operating activities			289,000,000	487,500,000
Cash flows from investing activities
Change in restricted cash			3,600,000	1,800,000
Purchases of fixed assets, net			(26,000,000)	(13,300,000)
Net cash used in investing activities			(22,400,000)	(11,500,000)
Cash flows from financing activities
Proceeds from issuance of preferred units, net of offering costs and expenses			387,600,000	0
Borrowings under credit facility			250,000,000	0
Repayments under credit facility			(250,000,000)	0
Payments on debt obligations			(15,000,000)	0
Proceeds from debt obligations			202,600,000	20,600,000
Net payments on loans payable of a real estate VIE			(14,300,000)	(27,300,000)
Payments of contingent consideration			(400,000)	(3,300,000)
Distributions to common unitholders			(63,000,000)	(98,500,000)
Distributions to non-controlling interest holders in Carlyle Holdings			(163,100,000)	(300,900,000)
Proceeds from Noncontrolling Interests			87,700,000	75,300,000
Distributions to non-controlling interest holders			(74,000,000)	(85,500,000)
Common units repurchased	0		(200,000)	(53,600,000)	$ (59,100,000)
Change in due to/from affiliates financing activities			38,500,000	49,500,000
Net cash provided by (used in) financing activities			386,400,000	(423,700,000)
Effect of foreign exchange rate changes			31,800,000	(500,000)
Increase in cash and cash equivalents			684,800,000	51,800,000
Cash and cash equivalents, beginning of period			670,900,000	991,500,000
Cash and cash equivalents, end of period	$ 1,355,700,000	$ 1,043,300,000	$ 1,355,700,000	$ 1,043,300,000	$ 1,355,700,000