In one of the toughest times for private equity fundraising, some are still managing to raise cash.
Carlyle Group said it raised $13.7 billion for its fifth U.S. buyout fund. The original target was $15 billion.
“We’re very pleased with this fund size and we feel it indicates the confidence our investors have in our ability to do good deals, ” Carlyle spokesman Chris Ullman said.
Washington, D.C.-based Carlyle launched the U.S. buyout fund in the spring of 2007. Funds typically have several “closes” before a “final close” where it is no longer open to new investors.
A source told Reuters in November that it raised nearly $14 billion, but hadn’t at that point closed. The fund officially closed for new investors on Dec. 31.
Trackback
One comment so far
[...] Group: It raised $13.7 billion for its fifth fund. Original target was $15 billion. [Reuters DealZone] Related: Troubles in fundraising land. [Buyouts, via [...]
- Posted by Deal Journal - WSJ.com : Deals of the Day: No Bonus for Bank of America's Ken Lewis