Carlyle raised $776 million for its Carlyle South America Buyout Fund, whose main focus is Brazil, it said in a press release.
It has also raised 360 million reais (about $225 million) in partnership with Banco do Brasil to invest in deals in Brazil.
The original target for the South America buyout fund was $500 million, a source familiar with the situation previously told Reuters.
Washington-based Carlyle has been pushing into emerging markets. It is also planning to raise money for a $500 million fund to invest in sub-Saharan Africa, a source familiar with planning previously told Reuters.
Debevoise & Plimpton LLP advised Carlyle for the funds.
(Reporting by Megan Davies; Editing by Lisa Von Ahn)