Carlyle and SBI PE Holdings announce partnership to support SBI’s expansion into a multi strategy private credit business for Japanese institutional investors

New York, NY, 30 October 2025 -Global investment firm Carlyle (NASDAQ: CG) today announced a partnership with SBI PE Holdings, Inc., the private equity business of Japanese financial services company SBI Group, to support SBI's expansion of private credit opportunities for Japanese institutional investors.

As the first step in this collaboration, Carlyle would receive an initial commitment from SBI Group's own capital to anchor the launch of this new strategy. The partnership would represent SBI Group's first full-scale entry into the private credit market, reflecting its strong conviction in Carlyle's global investment capabilities and confidence in the long-term potential of the asset class. The partnership will develop a multi private credit strategy that spans several areas, including direct lending, structured credit, opportunistic credit, and asset-backed finance, enabling Japanese institutional investors to participate in global private credit opportunities across major markets, including the U.S. and Europe. By combining Carlyle's proven global expertise with SBI Group's extensive domestic financial network and client relationships, the two firms will aim to broaden Japanese investors' access to global private credit markets.

Brian Marcus, Head of Cross Platform Investing for Global Credit at Carlyle, said: "We are pleased to announce this collaboration with SBI Group, an institution with deep expertise and a strong reputation in Japan. As the needs of Japanese investors continue to diversify, we see this as a great opportunity to support SBI's efforts to bring global private credit access to their institutional clients. By combining our global investment capabilities with SBI Group's extensive network, we look forward to creating innovative solutions and supporting Japanese investors' long-term growth and diversification objectives."

Yoshitaka Kitao, Representative Director of SBI PE Holdings, said: "SBI Group is committed to driving innovation and expanding investment opportunities for Japanese institutional investors. Through this partnership with Carlyle, we are confident that we can deliver new value to our clients and further strengthen our position as a leader in Japan's evolving financial ecosystem."

Carlyle's Global Credit platform manages US$203 billion in assets across the credit spectrum, providing creative solutions and scale to approximately 1,000 borrower relationships. The firm has a scaled and established private credit business which focuses on direct lending, opportunistic credit, and asset-backed finance strategies.

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About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 27 offices across four continents. Further information is available at https://www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SBI PE Holdings

SBI PE Holdings is one of Japan's largest private equity firms and an intermediate holding company within the Japan-based SBI Group, overseeing and managing its private equity investment business. As a member of the SBI Group, a comprehensive financial services group with strengths in banking, securities, asset management, and fintech, the company aims to create long-term value for investors, portfolio companies, and society through its subsidiaries. These subsidiaries leverage their extensive local knowledge with global investment expertise to identify promising companies in next-generation growth sectors.

Media Contacts

Carlyle

Andrew Kenny+44 7385 [email protected]

Kaede Haseda+81 80 4209 [email protected]

SBI Holdings

+81 36 229 0126