Fundraising - APRIL 4, 2014

Carlyle Group raises $1b for its seventh fund

by Andrea Waitrovich

The Carlyle Group has raised $1.13 billion for its Carlyle Realty Partners VII, according to a filing with the SEC.

The opportunistic fund launched in July 2013 with a $4 billion fundraising goal. The Carlyle Realty Partners fund series targets opportunistic investments in major North American metropolitan markets, primarily in the residential, hotel, industrial, office and retail sectors.

The latest fund follows six vehicles from the opportunistic Carlyle Realty platform, which raised approximately $8.15 billion in equity commitments. Fund VII’s predecessor Carlyle Realty Partners VI closed in 2011 with $2.34 billion. Carlyle Realty Partners V raised $3 billion in 2006. Carlyle Realty Partners IV raised $950 million, Carlyle Realty Partners III raised $570 million, Carlyle Realty Partners II raised $250 million, and Carlyle Realty Partners raised $470 million.

Fund VII was one of the largest funds to enter the 2013 market. Other funds that launched at the same time include Blackstone Real Estate Partners Europe IV, which closed last week with $7 billion; Lone Star Real Estate Fund III, which closed in October 2013 with $6.6 billion; and Blackstone Real Estate Partners Asia, which is currently fundraising

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