Carlyle raises 656 mln euros for third European tech fund

The Carlyle Group has closed its third European tech fund at its hard cap of 656 million euros (US$714 million), the firm announced today.

The limited partners of Carlyle Europe Technology Partners III include its previous fund’s mostly Europe and U.S.-based backers.

CETP III, which launched in May 2014, will focus on emerging European companies in the telecom, media and tech sector.

The fund has already made undisclosed investments in Expereo, a Dutch managed networks operator and Telvent Global Services, a Spanish provider of information technology infrastructure management solutions.

The firm’s prior fund, Carlyle Europe Technology Partners II, closed in 2008 with 530 million euros. CETP II is generating an average IRR of 13.30 percent and an average multiple of 1.60x, according to data provider Bison.

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