Carlyle nears halfway mark for $3.5bn-targeting Asia fundraise


Asia PacificGlobal buyout giant The Carlyle Group has registered almost $1.6bn for its fourth Asia vehicle, just ahead of the $1.5bn it had raised in May last year.

AltAssets revealed in October that the firm had picked up a $100m commitment from US pension major the New York State Teachers’ Retirement System, which appears likely to account for the extra capital.

The capital is spread across a trio of SEC filings, with $1.577bn in a main vehicle, about $144m in an ‘Access Fund’ and another $1.4m in an ‘Access Fund Offshore’.

Carlyle co-CEO William Conway revealed last May that the firm intended to begin investing using the vehicle a month later, and expected it to hit it $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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