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Alternative Market Briefing

Carlyle raises $8bn hard-cap on largest and fastest fundraise ever

Wednesday, December 15, 2021

Laxman Pai, Opalesque Asia:

Global investment firm Carlyle has raised $8 billion for its ninth U.S. real estate opportunity fund, Carlyle Realty Partners IX (CRP IX), exceeding its $6 billion initial target.

CRP IX will seek to continue Carlyle Realty's established investment strategy focused on opportunistic U.S. real estate. The newest fund aims to invest in sectors including residential, industrial, life science, and self-storage.

Carlyle Realty Partners VIII (CRP VIII), its predecessor, raised $5.5 billion in commitments in 2018.

Robert Stuckey, Managing Director and Head of Carlyle's U.S. Real Estate team, said, "Significant investor demand is a testament to the caliber of our team and the opportunity we see for compelling property investments across select markets. With the successful closing of CRP IX, we are well-positioned to continue to execute on our strategy of investing behind demographic-related themes, avoiding exposure to cyclical risk, and identifying deep and growing pools of demand."

Investors in the fund include Florida State Board of Administration, Tallahassee; Minnesota State Board of Investment, St. Paul; Virginia Retirement System, Richmond; Michigan Retirement Systems, East Lansing; Pennsylvania Public School Employees' Retirement System, Harrisburg; Illinois Teachers' Retirement System, Springfield; Kentucky Teachers' Retirement System, Frankfort; and District of Columbia Retirement Board.

The Carlyle Realty Partner......................

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