- Approaching reported $18.5 bln hard cap
- Push to raise $100 bln across platform by 2020
- Next Asia fund nearing $6.5 bln close
Carlyle Group has raised around $16.3 billion for its seventh flagship fund, a regulatory filing shows.
Carlyle Partners VII has a hard cap of $18.5 billion, Bloomberg previously reported. A final close was said to be expected early this year. There is no indication that fundraising is finished. The firm declined to comment.
Carlyle, based in Washington, is also reportedly close to a $6.5 billion final close on its next Asia fund. Investor interest pushed Carlyle Asia Partners V past the initial target of $5 billion.
The fund will pursue both buyouts and growth investments, following the firm’s merger of those Asia-focused teams last year.
In 2016, Co-Founder David Rubenstein pledged to raise $100 billion for new funds by 2020. Co-CEO Glenn Youngkin said on an earnings call that Carlyle would probably be more than $80 billion toward that goal by the end of this year. The firm raised $7.7 billion from investors in Q1.
Action Item: Check out Carlyle Partners VII’s Form D filing here.