Washington-based private equity major Carlyle has raised $1.5bn for its fourth Asian buyout fund.
The fund has already held interim closings and will start to generate fees in June, said Carlyle’s co-CEH William Conway during a conference call on the back of the firm’s quarterly results.
He added that Carlyle expects the fund to reach its target of $3.5bn.
The Asian buyout funds invest in buyouts and take-private deals, while also making minority investments in partnership with experienced management teams.
The previous fund was launched in 2007 at $2.55bn following the $1.8bn second vehicle raised in 2005.
The 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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