The Carlyle Group closed the $4.2 billion Carlyle Realty Partners VII at its hard cap, it announced in a news release Wednesday.
The opportunistic real estate fund invests across U.S. major metropolitan areas in all real estate sectors.
“We appreciate the strong support of our investors. We believe the robust interest in CRP VII is acknowledgement of our successful focus on opportunistic investments in U.S. real estate, and we look forward to continuing to create value in our portfolio,” said Robert G. Stuckey, managing director and head of Carlyle’s U.S. real estate team, in the news release.
Carlyle Realty Partners VI closed at $2.34 billion in January 2012.
Investors in the latest fund include the $132.4 billion Texas Teacher Retirement System, Austin; $52.4 billion Pennsylvania Public School Employees’ Retirement System, Harrisburg; $45.8 billion Illinois Teachers’ Retirement System, Springfield; $30.1 billion Texas Permanent School Fund, Austin; and $17 billion Louisiana Teachers’ Retirement System, Baton Rouge.
Separately, Carlyle also announced the closing of the ¥119.5 billion ($1 billion) Carlyle Japan Partners III. Investors in the fund, focused on Japanese midcap companies, include the Illinois Teachers’ Retirement System.
Elizabeth Gill, Carlyle spokeswoman, did not return a phone call by press time.