Carlyle Shares Gain After Schwartz Unveils Growth Targets (1)

Carlyle Group Inc. shares rose after it outlined a series of three-year growth targets as it looks to build on Chief Executive Officer Harvey Schwartz’s momentum in the alternative asset manager’s turnaround.

The firm aims to raise at least $200 billion of capital and generate $1.9 billion of fee-related earnings and $6-per-share distributable earnings by 2028, according to a presentation Thursday. Its board also authorized a $2 billion share-repurchase program.

Carlyle’s shares rose as much as 6.3% to $54.80.

The firm, which managed $477 billion at year-end, announced new targets after exceeding its prior goals for fee-related earnings growth ...