The Carlyle Group Inc. (NasdaqGS:CG) is looking for M&A. John Redett Chief Financial Officer said at Morgan Stanley US Financials, Payments & CRE Conference 2024, "Inorganic gets into the whole kind of capital allocation conversation, and we probably hit that right now if you want. As I said earlier, I don't think we as a firm, historically, had been all that disciplined in terms of how we utilized capital. And you could argue, particularly on the M&A front.

So we've taken a whole different approach in terms of how we think about allocating capital. And I think about capital simply on a spectrum of really -- there's 4 things I could do. I can buy back my stock.

I can give you a dividend. I can invest in businesses for growth, or I can go do something inorganic or M&A. And where I sit today, I'm happy with where our dividend is. I'm more than happy to invest in the businesses for growth.

But when I look at returns, I think I'm getting a better return buying back stock than I am going to buy something inorganically. Now that -- that could change. We might find something on the M&A front that is highly attractive and financially attractive, and we could pivot and do that.

But we are very focused right now on the stock buyback. But I'm not ruling out M&A. But you should rest assured that if we did something on the M&A front, we will be incredibly disciplined and rigorous in terms of the analytics as to whether or not that works".