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Carlyle to launch $4bn global real estate fund

12 Jun 2013

dollar_money_bag_170sqBuyout major Carlyle is reportedly set to launch one of the largest real estate funds raised since the end of the financial crisis, targeting $4bn.

The Washington-based firm, which is hoping to benefit from its recent profitable exits, will start raising its seventh real estate fund this year, said the Wall Street Journal, citing people familiar with the matter.

The fund follows Carlyle’s previous $2.3bn real estate vehicle closed in 2012. The firm hopes to raise at least $3bn, which was the size of the real estate fund it closed in 2007.

Carlyle’s recent real estate deals included the sale of the 27-story office and retail tower at 650 Madison Avenue to Crown Acquisitions and Highgate for $1.3bn, making a profit of $500m.

Last month the firm confirmed a strategic partnership with China’s Szitic Commercial Property to buy a 49 per cent stake in regional shopping malls Suzhou In-City Mall and Hangzhou Gudun In-City Mall.

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