Higher borrowing costs, volatile markets and economic uncertainty have made it more difficult for private equity firms to exit their existing investments through sales or initial public offerings.
Expectations were high for the funds since they allow investors to gain exposure to Bitcoin in traditional brokerage accounts instead of through crypto-native startups.
Carlyle Group followed the lead of larger rivals KKR and Apollo Global Management by tying the pay of dealmakers and senior employees more closely to investment outcomes.
