Carlyle breaks $1bn barrier for latest Asia buyout fund


Asia mapGlobal buyout giant The Carlyle Group has reportedly broken the $1bn mark for its latest Asia-focused private equity fund four months after holding a $700m first close.

The news was reported by AVCJ, which cited sources familiar with the situation.

Carlyle hit the fundraising trail for the $3.5bn-targeting fund in May last year, shortly after the firm debuted on the Nasdaq stock exchange.

Buyout firms are increasingly turning to Asia to raise large buyout funds as opportunities increase relative to troubled markets in Europe and the US.

Last month Asia-focused private equity firm Affinity Equity Partners hit a $1.5bn first close for its $3.5bn-targeting fourth fund just five months after it began marketing the vehicle.

A month earlier RRJ Capital reportedly raised the second-largest Asia-based private equity fund in history despite falling short of its original $5bn target.

RRJ’s latest fundraise dwarfed the $2.3bn it raised for its Capital Master Fund I in 2011, which closed $300m over target.

KKR is said to be targeting $6bn for its own Asia vehicle and TPG Capital $4bn, while Bain Capital and Morgan Stanley are also raising individual Asia funds.

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