Fundraising - MARCH 23, 2015

The Carlyle Group raises $2.5b for energy fund

by Andrea Waitrovich

The Carlyle Group has raised $2.5 billion for its first international energy fund, the largest first-time fund in the firm’s history. Carlyle International Energy Partners began raising capital in mid-2013 and has attracted 160 investors. Carlyle now has more than $10 billion of capital ready to deploy across its global energy platform.

CIEP seeks opportunities in oil and gas investments located in Europe, Africa, Latin America and Asia. The primary investment focus is on oil and gas exploration and production, mid- and downstream, refining and marketing, and oil field services.

CIEP’s current investments include: Varo Energy, a refining, storage and distribution business operating in Germany and Switzerland; Discover Exploration, an oil and gas exploration company based in the United Kingdom that focuses on Africa, Latin America and Asia; and HES International, a European liquids, dry-bulk storage and handling business located in the Netherlands.

CIEP is the largest international energy fund to close in the past two years, according to IREI’s FundTracker database. Since 2013, there were 10 final closes for non-U.S. energy funds, totaling $7.81 billion in equity commitments. CIEP’s final close follows European Diversified Infrastructure Fund, managed by Colonial First State Global Asset Management, which raised $2.19 billion in January 2015.

There are 34 international energy funds currently marketing, targeting to raise $9.12 billion in equity. To date, the funds have raised approximately $4.1 billion in equity commitments.

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