Carlyle Group LP’s David Rubenstein, Bill Conway and Dan D’Aniello received $212 million in combined payouts in 2016, down from $296 million the previous year.

The firm’s founders were each paid $281,625 in salaries and retirement-account contributions, according to Washington-based Carlyle’s annual report filed Thursday with U.S. regulators. Rubenstein also got $73.1 million in dividends based on his stock ownership in the asset manager, and Conway and D’Aniello received $69.3 million each in dividends.

The founders of Carlyle and Apollo Global Management LLC, unlike peers at Blackstone Group LP and KKR & Co., don’t receive carried interest, or a cut of deal profits. Apollo founders Leon Black, Josh Harris and Marc Rowan took home $131.9 million, $76.9 million and $65.3 million, respectively, in 2016, almost all of which was stock dividends, according to the firm’s 10-K filed Monday.

Carlyle earned $625.9 million in distributable earnings last year, down from $897.5 million in 2015. The firm spent most of last year winding down its hedge fund operations, while shifting its focus to expanding in credit, energy and funds-of-funds. It also lost, to New York-based Apollo, its status as the second-biggest U.S.-based alternative asset firm by assets. In 2017, Carlyle is embarking on a four-year fundraising push for which it’s targeting $100 billion in fresh capital.

The Carlyle executives’ payouts don’t include distributions from the firms’ funds in which they’re personally invested. Carlyle stopped disclosing those amounts for the 2015 year. During 2016, the firm said, Rubenstein put $91.8 million into Carlyle funds and deals, Conway invested $134.8 million and D’Aniello added $95.9 million.

Blackstone and KKR are set to disclose their founders’ payouts later this month. Blackstone CEO Steve Schwarzman, who’s the wealthiest among the executives, took home $734 million in 2015.

Carlyle managed $157.6 billion in private equity holdings, real estate and credit assets as of Dec. 31. Apollo oversees $191.7 billion and New York-based Blackstone manages $366.6 billion.

This article was provided by Bloomberg News.