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研究快訊:凱雷集團2026年第一季可分配收益未達預期

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-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下:CG公佈了2026年第一季喜憂參半的業績,總資產管理規模(AUM)增長5%至4750億美元,而收取管理費的資產管理規模僅增長1%至3330億美元。總營收年減28%,已實現的業績費從去年同期的3.55億美元大幅下降至6,200萬美元。我們認為,像CG這樣的另類投資公司不應僅憑一個季度的業績來評判,因為與管理費相關的收益、業績費、資金流入和變現情況在季度間並不對稱。管理層強調,自2024年以來,CG一直是全球IPO募集資金最多的私募股權投資機構,過去兩年已募集約100億美元。儘管管理層未提供具體的2026年業績指引,且2026年第一季獲利未達預期,但今年以來,公司發展勢頭強勁。第一季資金流入穩健,達130億美元,過去12個月累計資金流入達525億美元,主要得益於全球信貸領域的保險解決方案和資產支持融資策略。投資總額達100億美元,主要集中在全球信貸領域;已實現收益122億美元,顯示市場退出環境穩定。

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