Telis Demos

speaker

290 appearances 5 recordings 1 series first heard Aug 2025 last heard 2 Aug

Telis Demos’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in Aug 2026 with 1.

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WSJ What’s News · What's News in Earnings: Why Some Money Managers Are Trailing the Market · 11 Aug 2025 podcast

have been in.

And Carlyle's had new management.

They've got Harvey Schwartz, a former Goldman Sachs top executive who's been leading the firm for the last couple of years.

And I think investors are just really kind of buying into the idea that, yeah, Carlyle Group is in the same sort of class as some of these other alternative asset managers.

And so

What I think investors are looking for is really a catch-up of that stock's valuation versus some of the other managers.

So Carlyle was just trading at a slightly lower valuation to some of its peers.

And I think investors have been waiting to say, okay, should that gap close?

And I think that's what we're starting to see this year.

So, you know, often in a bull market, you have to look for a company that maybe is a little not quite as shiny as others, but seeing if it could get there.

And I think that's what's happening with Carlyle right now.

Simple answer to that is that because they are managers of public equity money, much more so than the alternative asset managers, and public equities have gone up, right?

The S&P 500 is way up.

That means that they're managing a bigger pool of money and they collect more fees from that.

So the bull public market is really good for these guys.

Whereas it's not as directly impactful for the alternative asset managers, except insofar as they can then maybe take some of their companies public and realize them.

And as discussed, realizations selling is going okay to not great for a lot of alternative asset managers.

So that's the simplest reason why you see a big difference.

I think a couple of key things will be, one, that realization selling, just continuing to see those results grow.

go well?

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