NYSTRS has also agreed to commit up to $150m to Lexington Emerging Partners, $150m to The Resolute Fund III and $20m to Thoma Bravo Special Opportunities Fund according to the minutes of its latest investment meeting.
The LP’s private equity commitments have returned 11.1 per cent between inception and the end of June, and a cash multiple of 1.4 times.
Washington-headquartered Carlyle had raised $1.5bn towards Carlyle Asia Partners IV in May according to its quarterly results, and intended to begin investing using the vehicle in June.
Carlyle co-CEO William Conway said the firm expected to hit its $3.5bn target.
The previous Asia fund was launched in 2007 at $2.55bn, and followed a $1.8bn second vehicle raised in 2005.
Carlyle’s Asia buyout team, which is focused on the Asia Pacific region excluding Japan, had total commitments of $6bn at the end of 2012.
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