Carlyle Group said Sept. 11 that it has closed its eighth U.S. real estate fund on its $5.5 billion hard cap. The target for Carlyle Realty Partners VIII was $5 billion target. Carlyle Realty Partners VIII invests exclusively in the U.S. residential and commercial real estate.
WASHINGTON, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced the final close of its eighth U.S. real estate fund, Carlyle Realty Partners VIII. Carlyle raised $5.5 billion, exceeding its target of $5 billion, as well as hitting its hard cap. This is the latest and largest in Carlyle’s U.S. real estate fund series, which will focus on opportunistic investments in targeted sectors across the U.S.
Robert Stuckey, Managing Director and head of Carlyle U.S. Realty, said, “Raising Carlyle’s eighth and largest U.S. real estate fund is a testament to the market opportunity, our proven team and record of success. We appreciate the support of our returning and new investors and will work hard to create value for them.”
Carlyle Co-CEO Glenn Youngkin said, “Carlyle’s U.S. Realty team has delivered for our investors for 20 years. Their depth and breadth has enabled us to perform through cycles and across sectors and regions.”
Since raising its first U.S. real estate fund in 1997, Carlyle has invested $14.6 billion in 747 investments. Carlyle is one of the largest private equity investors in U.S. real estate with $17 billion of assets under management as of June 30, 2018.
Carlyle Realty Partners VIII invests exclusively in the United States in residential and commercial real estate in opportunistic investments. Carlyle’s seven prior U.S. real estate funds have invested in a range of sectors, including multifamily residential, for-sale residential, senior living, student housing, manufactured housing, self-storage, office, hotel, industrial, retail and data centers in more than 30 geographies across the U.S.
Carlyle’s Realty Partners’ senior professionals include 16 Managing Directors who have an average of 27 years of real estate experience with an average tenure at Carlyle of 16 years. Leadership is supported by more than 90 investment professionals with in-house expertise including asset management, renovation, construction and development capabilities, located in offices in New York, Washington, DC, Los Angeles and San Francisco.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.