Carlyle Group set to raise $6.5 billion for its new Asia focused private equity fund

The deal marks the coming of age of Asia focused funds, which are increasingly making strong headway in strong growth markets such as India, China and Japan.

According to sources with direct knowledge of the matter at hand, the Carlyle Group is set to close one of its biggest Asia focused private equity fund at a whopping $6.5 billion; the deal adds to the record levels of funds seeking deals in the region.

Initially, the Carlyle Group had targeted a fund of $5 billion, however sources say given the strong response it received from investors, it raised its expectations from its investors, who are known as limited partners.

As per a separate source, the fundraiser could close as early as this month-end.

With increased corporate restructuring and with global private equity funds making headway in key markets, including in India, Japan and China, investor interest in Asia-focused private equity has jumped significantly.

In 2018, Bain Capital led one of the the region’s biggest ever-buyout with the $18 billion purchase of Toshiba Corp’s NAND memory chip business.

As per a source, Carlyle’s latest fund will combine growth opportunities and buyouts.

Carlyle declined to comment.

Sources preferred the cover of anonymity since details of the deal is yet to be made public.

According to Preqin, a data provider, in 2017 342 funds have raised a combined total of $107 billion in Asia.

Other global groups have have in recent years raised fresh capital include KKR & Co, which completed a new Asia-focused buyout fund in June 2017 which saw it raise $9.3 billion, a record for the region.

Incidentally, Bain is also targeting up to $4 billion for a new Asia-focused fund.


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