The Carlyle Group Inc. (NASDAQ:CG) Q4 2023 Earnings Call Transcript

Harvey Schwartz : Yeah. So again, that’s why I understand and Glenn, you’ve known this about me for a long time. That’s why I underscore, and I think I step back and say, listen, we want to think about the approach to capital management. This gives us the flexibility to return capital to shareholders because we think the enterprise value is so compelling here. At the same time, we’re not sacrificing growth. And so when we look forward over the next couple of years, we wanted this flexibility, and we will move back and forth, but we are 100% making sure we invest in growth. And we think the growth opportunities for Carlyle are pretty extraordinary, and we have the momentum. And I think you see it in the financial targets. So I would agree with you.

Glenn Schorr : Net buyback, shares go down?

Harvey Schwartz : I think — I don’t know what John said it earlier, what is it about 10% of the market. I think the math should be pretty easy on that. So I think if we end up utilizing all of this, over the next several quarters, I think the math is pretty easy.

Operator: Thank you. There are no further questions. I’d like to turn the call back over to Daniel Harris for any closing remarks.

Daniel Harris: Thank you, operator, and thank you, everyone, for joining our call today, for your time and for your questions. Should you have any follow-ups, please give Investor Relations a call. Otherwise, we look forward to talking with you again next quarter.

Harvey Schwartz : Thanks, everyone.

John Redett : Thanks.

Operator: Thank you for your participation. This does conclude the program, and you may now disconnect. Everyone, have a great day.