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Carlyle raises $1.2bn

The US asset manager’s second RE secondaries vehicle is more than double the size of its predecessor.

The Carlyle Group has closed its second real estate secondaries fund, Secondaries Program II, at $1.2 billion. Launched in 2017, with a target of $750 million, Program II invests opportunistically across the globe.

Secondaries Program II focuses on investors looking to exit single vehicles, pooled funds, co-investments and core assets in the US, Western Europe and Asia.

Secondaries Program II is more than double the size of its previous predecessor, Metropolitan Real Estate Partners Secondaries & Co-Investments Program which raised $550 million against a $450 million target.