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Carlyle plans to raise $7bn for energy funds by 2015

12 Nov 2013

dcPrivate equity major Carlyle said it plans to raise $7bn for its energy funds in the next two years.

The Washington, DC-based firm expects to raise $4bn for a North American energy fund and a further $3bn equally divided between international energy and American power vehicles, Carlyle said at its investor day, according to Bloomberg.

Carlyle operating executive Ken Hersh said that the firm considers energy to be the most attractive investment area and that US power markets will require $1tn in new investments by 2020.

Last week the firm released its third quarter results, which revealed that its private equity funds had seen their valuations surge 25 per cent over the past 12 months.

The firm’s fundraising total amounted to $4bn in the third quarter thanks to additional closings of its latest US, Asia and sub-Saharan Africa funds and first closes in its Europe and Japan buyout funds.

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