The Carlyle Group closed its latest European upper midmarket private equity fund at its €3.75 billion ($4.1 billion) hard cap, said Catherine Armstrong, spokeswoman.
Carlyle Europe Partners IV already has made four investments in companies located in France, Italy and Spain, including Homair Vacances, a pan-European outdoor accommodation and holiday group operating more than 15,000 mobile homes across almost 300 campsites.
Carlyle Europe Partners III closed in 2007 with €5.35 billion.
The latest fund's target was $3 billion. Carlyle executives began marketing the fund about 2½ years ago along with new U.S. and Asian private equity funds, with efforts focusing on the new Europe fund around 18 months ago after the other two funds had closed, said a person familiar with the fundraising.
More than 140 investors committed to the CEP IV fund including the $18.1 billion Kentucky Teachers' Retirement System, Frankfort.