Carlyle closes latest secondaries fund at $1.2b

The Carlyle Group, a global alternative asset manager, has closed Metropolitan Real Estate’s Secondaries Program II, raising $1.2 billion and exceeding its $750 million target.

Metropolitan Real Estate is a multi-manager real estate private equity investment platform that is part of Carlyle’s Investment Solutions business. The program invests in the real estate secondaries market globally, providing liquidity to investors in private equity funds and other partnership structures. Program II has already closed five investments spanning the United States, Europe and Asia in all major property types.

Program II builds on Metropolitan Real Estate’s secondaries investment strategy dating back to 2002 and its first dedicated secondaries program, which launched in 2014. The platform encompasses primary fund investments, direct property co-investments and secondaries, creating multiple and complementary ways for Metropolitan to invest with its partners.

Sarah Schwa