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Florida SBA invests $200m in two Carlyle funds

by Andrea Waitrovich

The $195.4 billion Florida State Board of Administration has committed $200 million to The Carlyle Group. SBA invested $100 million in Carlyle Realty Partners VIII, an opportunistic real estate fund. The fund opened in October 2016 with a $5 billion equity fundraising target, the largest target for Carlyle’s U.S. real estate fund series. The fund had raised $2.76 billion as of May 26. The fund series focuses on acquisitions, value enhancements and dispositions of U.S. office, residential, senior housing, hotel and retail properties. The fund’s predecessor, Carlyle Realty Partners VII, held a $4.2 billion final close in September 2015, while Carlyle Realty Partners VI closed in December 2011 after raising $2.3 billion. The second new investment made by SBA was $100 million to Carlyle Property Investors, a core-plus open-ended vehicle that launched in 2015. The vehicle is focused on the United States, with a geographic distribution that will target 30 percent o

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