Carlyle Asia Growth Partners IV, a private equity fund, was closed at $1.04 billion .
Executives at Carlyle Group set out to raise $1 billion, which they believe “is the right size of fund to manage as the team takes an active approach to managing its portfolio companies,” said Michelle Ong, Carlyle spokeswoman.
The growth capital fund, investing in high-growth companies in China, India, Korea and other parts of Asia, does not generally take controlling stakes in companies. Fundraising took almost a year.
Investors in the fund include the $181.7 billion California Public Employees' Retirement System, Sacramento, which committed $150 million to the fund in October. CalPERS owns a stake in the firm.
