Carlyle raises $5.5bn

The US-based global alternative asset manager closes its eighth US opportunity fund exceeding hard cap.

The Carlyle Group has held a final close for Carlyle Realty Partners VIII at $5.5 billion exceeding its hardcap, surpassing its initial target of $5 billion. The firm’s eight US focused real estate fund is dedicated to an opportunity strategy.

Limited partners in the fund include endowments and foundations such as Pennsylvania Public School Employees’ Retirement System, School Employees’ Retirement System of Ohio, New Mexico State Investment Council, etc.

Carlyle Realty Partners VII held a final close at $4.16 billion in September 2015 and was backed by investors such as the New York City Employees’ Retirement System.