← Carlyle Group

Carlyle Partners VIII, L.P.

Carlyle GroupVINTAGE 2022

NET IRR

8.6%

TVPI

1.16x

DPI

0.20x

COMMITMENT

$150M

LP SOURCES

4

VALUATION SPREAD1.16x – 1.20x TVPI across 3 sources

CROSS-REFERENCE TABLE

LP SOURCE	AS OF	COMMITMENT	PAID IN	NET IRR	TVPI	DPI	DOC
Minnesota SBI	2025-12-31	$150M	$115.6M	8.6%	1.16x	0.20x	SOURCE ↗◆
CalPERS	2025-09-30	$177.2M	$232.2M	11.4%	1.20x	0.69x	SOURCE ↗◆
WSIB	2025-09-30	$300M	$197.6M	9.3%	1.20x	0.17x	SOURCE ↗◆
CPPIB	2025-09-30	$350M	$229M	—	—	—	SOURCE ↗◆