Carry Makes a Comeback, Pushing Pay in Private Equity Higher
- Performance-related pay rises 33% over same period last year
- Increased deal flow, compensation changes both fuel the gain
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A combination of increased deal activity and changes in pay structures has driven big gains in the payouts investment firms made to employees this year.
KKR & Co. distributed $843 million in compensation tied to realized gains, often called carry, to its rainmakers in the first nine months of the year, almost double the payouts in the same period of 2023. Carlyle Group Inc., paid out about $542 million, up from $286 million from January through September of last year.