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Carlyle raises more than $11bn for flagship fund, lifts hard cap

13 Sep 2013

dollar_money_bag_170sqBuyout major Carlyle has reportedly raised the fundraising limit for its flagship fund after receiving strong demand from LPs.

The Washington, DC-based firm has lifted the hard cap for Carlyle Partners VI by $500m to $12.5bn, said the Wall Street Journal, citing people with knowledge of the matter.

Carlyle has already raised $11.1bn for the vehicle, exceeding its $10bn target, and expects to hold a final close around November 22, said the sources.

AltAssets reported in July that Carlyle was set to break the $10bn target for its sixth major US buyout fund after raking in $9.4bn of commitments from LPs.

Last month the firm revealed that its private equity dry powder increased to over $20bn in the second quarter of 2013 thanks to follow-up closings on its flagship US and Asia buyout funds.

Carlyle generated net realized proceeds of $3.9bn from 144 different investments across 29 carry funds in the second quarter, while deploying $1.3bn of equity in 75 new or follow-on investments.

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