Carlyle Raises $1B South America Funds

(Reuters) – Carlyle Group has raised $1 billion to invest in South America, the private equity firm said on Wednesday, giving it a total of $14 billion assets under management in emerging markets.

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)