The Carlyle Group has closed its third European real estate fund with $3.4 billion in capital commitments.
Global private equity firm The Carlyle Group today announces that it has closed its third European real estate fund, Carlyle Europe Real Estate Partners III (CEREP III), at $3.4 billion. The fund was raised against an initial target of $2.3 billion, underlining ongoing, strong demand for pan-European real estate investment vehicles, and has already committed $1.1 billion to 10 assets. With leverage, the pan-European team of 46 people will have maximum funds of approximately $13.9 billion to invest. The Carlyle Group now manages $10.8 billion in ten real estate funds across the world, including $5.3 billion of assets under management in
Carlyle invests in all real estate asset classes, with a concentration on office, retail, hotel and residential assets across Western and
Eric Sasson, head of Carlyle's real estate operations in Europe, commented: “To have raised a fund of this scale, which exceeded our original target by a significant margin, underlines the continued confidence of investors in both the potential of real estate markets across
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The Carlyle Group is a global private equity firm with $81.1 billion under management committed to 60 funds. Carlyle invests in buyouts, venture & growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $43.0 billion of equity in 774 transactions for a total purchase price of $229.3 billion. The Carlyle Group employs more than 1,000 people in 21 countries. In the aggregate, Carlyle portfolio companies have more than $87 billion in revenue and employ more than 286,000 people around the world. www.carlyle.com