Carlyle Group closed a U.S. real estate opportunity fund, Carlyle Realty Partners IX, at about $8 billion, exceeding its $6 billion initial fundraising target, according to a news release issued Tuesday.
The fund's predecessor, Carlyle Realty Partners VIII, closed at $5.5 billion in 2018.
The newest fund aims to invest in sectors including residential, industrial, life science and self-storage.
Investors in the fund include the $250.8 billion Florida State Board of Administration, Tallahassee; $127.9 billion Minnesota State Board of Investment, St. Paul; $103.7 billion Virginia Retirement System, Richmond; $95.4 billion Michigan Retirement Systems, East Lansing; $72.5 billion Pennsylvania Public School Employees' Retirement System, Harrisburg; $63.9 billion Illinois Teachers' Retirement System, Springfield; $25.7 billion Kentucky Teachers' Retirement System, Frankfort; and $10.9 billion District of Columbia Retirement Board.
Carlyle has $293 billion in assets under management as of Sept. 30.