Carlyle raises $2.9bn

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The Carlyle Group has raised $2.9 billion in a first close for its Carlyle Realty Partners VIII. The Washington DC-headquartered firm began fundraising in 2016 with a $5 billion target.

Its previous fund raised $4.2 billion in 2015.

Investors that committed to Carlyle Realty Partners VIII include the Pennsylvania Public School Employees' Retirement System, the Teachers' Retirement System of Louisiana and the Texas County and District Retirement System.

The fund will target opportunistic opportunities in a diverse number of properties in the United States.