SecProbe.io

September 23, 2016

Mail Stop 4 720

Via E -mail
Curtis L. Buser
Chief Financial Officer
The Carlyle Group L.P.
1001 Pennsylvania Avenue, NW
Washington, D.C. 20004 -2505

Re: The Carlyle  Group L.P.
Form 10 -K for the Fiscal Year Ended December 31, 2015
Filed February 24, 2016
 File No. 001 -35538

Dear Mr. Buser :

We have limited our review  of your filing  to the financial statements and related
disclosures and have the following comments.  In some of our comments, we may ask you to
provide us with information so we may better understand your disclosure.

Please respond to these comments  within ten busine ss days by providing the requested
information or advis e us as soon as possible when you will respond.  If you do not believe our
comments apply to your facts and circumstances, please tell us why in your response.

After reviewing your response to these  comments, we may have  additional comments.

Form 10 -K for the Fis cal Year E nded December 31, 2015

Item 7.  Management’s Discussion and Analysis of Financial Condition and Results of
Operations, page 83

Performance Fee Related Compensation Expense, page 104

1. We note that your Legacy Energy funds within the Real Assets segment h ad carry
reversals during the year without a corresponding reversal of performance fee related
compensation expense.  We also note from your policy disclosure on page 190
(performance fee related compensation) that upon any reversal of performance fee
revenue, the related compensation expense is also reversed .  Please address the following:

 Explain to us why there is a reversal of performance fee revenues; however, there is
no reversal of the related compensation expense for these particular funds.

Curtis L. Buser
The Carlyle Group L.P.
September 23, 2016
Page 2

 Tell us if the performance fee compensation paid by these particular funds is subject
to the contractual giveback obligation.

 Tell us if there could potentially be reversals of performance fee compensation
expense in future periods for these particular funds in the event that they do not
perform well.

We urge all persons who are responsible for the accuracy and adequacy of the  disclosure
in the filing to be certain that the filing includes the information the Securities Exchange Act of
1934 and all applicable Exchange Act rules require.   Since the company and its management are
in possession of all facts relating to a company’s  disclosure, they are responsible for the accuracy
and adequacy of the disclosures they have made.

 In responding to our comments, please provide  a written statement from the company
acknowledging that:

 the company is responsible for the adequacy and a ccuracy of the disclosure in the filing;

 staff comments or changes to disclosure in response to staff comments do not foreclose
the Commission from taking any action with respect to the filing; and

 the company may not assert staff comments as a defense i n any proceeding initiated by
the Commission or any person under the federal securities laws of the United States.

You may contact Robert Klein  at (202) 551 -3847  or me at (202) 551 -3872  with any
questions.

Sincerely,

 /s/ Hugh West

Hugh West
Accounting Branch Chief
Office of Financial Services