(Reuters) – Private equity firm Carlyle Group LP is looking to raise about $5 billion for a fund that can hold stakes in companies for as long as 20 years, Bloomberg reported.
The company expects to make investments that do not fit within the mandate of its sixth main buyout fund, which raised $13 billion last year, Bloomberg said, citing people familiar with the matter.
The fund would charge lower fees than its traditional buyout offering and the investments could include taking minority stakes in companies and backing family-owned businesses, Bloomberg said.
Carlyle plans to charge a 1 percent management fee and take 15 percent of the profits on the longer-life fund, according to the people.
Carlyle was not immediately available for comment.