Carlyle Group closed Carlyle Global Financial Services Partners II at $1 billion, said spokeswoman Elizabeth Gill.
The financial services fund is expected to make investments in asset and wealth management, insurance, specialty finance, financial technology, depositories and capital markets business services. Investors in the Carlyle Global Financial Services Partners II include the $17.5 billion Kentucky Teachers' Retirement System, Frankfort.
A predecessor fund, Carlyle Global Financial Services Partners I, closed at $1.1 billion in 2010.