Carlyle Group said July 30 that its latest U.S. buyout fund close on $18.5 billion. The fund, Carlyle Partners VII, is the largest in the firm’s history. It will make majority and strategic minority investments in the U.S. across five industries: aerospace, defense & government services; consumer & retail; healthcare; industrial & transportation; and technology, media & telecom. Carlyle’s prior U.S. buyout fund raised $13 billion.
The Carlyle Group Raises $18.5 Billion for U.S. Buyout Fund, Largest Fund in Firm History
· Exceeds $15 Billion Target; 42% Larger than Previous Fund; Hits Hard Cap
· Carlyle, Its Employees and Other Professionals Commit $1 Billion to the Fund
· Primarily Invests in U.S. Corporate Buyouts and Strategic Minority Investments Across Five Industries
WASHINGTON, DC – Global alternative asset manager The Carlyle Group(NASDAQ:CG) today announced the final close of Carlyle Partners VII, an $18.5 billion fund that makes majority and strategic minority investments primarily in the U.S. across five industries: Aerospace, Defense & Government Services; Consumer & Retail; Healthcare; Industrial & Transportation; and Technology, Media & Telecom. More than 320 investors from 57 countries committed capital to the fund, which exceeded its $15 billion target and hit its hard cap.
Peter J. Clare, Co-CIO and Co-head of U.S. Buyout, and Sandra J. Horbach, Co-head of U.S. Buyout, said, “This fundraise, the largest in Carlyle history, is a testament to the creativity, hard work and performance of the U.S. Buyout team. We are grateful for the confidence and support of our fund investors, many of whom are repeat investors.”
Kewsong Lee, Carlyle’s Co-Chief Executive Officer, said, “For 29 years, the U.S. Buyout team has demonstrated its ability to create value for our investors. Sandra and Pete’s track record is exceptional. Their superb leadership coupled with the team’s deep domain expertise enables us to create the edge needed to maximize returns in today’s highly competitive markets.”
Carlyle’s previous U.S. Buyout fund – $13 billion Carlyle Partners VI – began investing in 2014. Select investments in that fund include Signode Industrial Group, formerly part of Illinois Tool Works; Ortho-Clinical Diagnostics, formerly part of Johnson & Johnson; Dealogic; Vogue International; Atotech, formerly part of Total; and Novetta Solutions.
Demonstrating alignment with fund investors and confidence in the team, Carlyle, its senior professionals, operating executives and other professionals committed $1 billion in capital to the fund.
The 74-person U.S. Buyout team is part of Carlyle’s Corporate Private Equity segment. Corporate Private Equity, with assets under management of $81 billion and 297 investment professionals, operates 14 fund families worldwide with more than 170 portfolio companies as of June 30, 2018.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 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 1,575 people in 31 offices across six continents.