The Carlyle Group closed its fourth Asia private equity fund at $3.9 billion, exceeding the fund’s $3.5 billion fundraising target, spokesman Christopher Ullman said in an e-mail.
The new fund, Carlyle Asia Partners IV, exceeds Carlyle’s $2.55 billion Carlyle Asia Partners III, which was launched in 2007 to make leveraged buyout transactions in Asia.
The new fund, like the predecessor funds, will take minority stake and conduct leveraged buyout deals in companies across Asia, excluding Japan.
Investors include the $12.6 billion Maine Public Employees Retirement System, Augusta, and the Rhode Island State Investment Commission, which manages the $8.1 billion Rhode Island Employees’ Retirement System, Providence.