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Laxman Pai, Opalesque Asia:

U.S. investment giant Carlyle Group has raised 430 billion yen ($2.8 billion) for its fifth Japan buyout fund, its largest investment vehicle for Japan, despite a gloomy fundraising climate for private equity firms globally.

Carlyle Japan Partners V (CJP V) received strong demand and backing from both domestic and global investors, raising nearly 70% more than the size of its predecessor fund said a press release from the global alternative asset management company with $425 billion of assets under management (AUM).

"CJP V will continue the successful strategy of investing primarily in upper middle-market opportunities in Japan across Technology, Media and Telecom (TMT), Consumer, Retail and Healthcare (CRH), and General Industries (GIG), focusing on succession transactions, carve-outs, and strategic take-privates," said the multinational private equity firm.

Kazuhiro Yamada and Takaomi Tomioka, Co-Heads of Carlyle Japan, said, "We are delighted to close our fifth Japan buyout fund and are grateful for the trust and support of our investors. It is an exciting time for private equity investors in the region.

"With our largest fund to date, we are well-positioned to continue to capture investment opportunities on behalf of our investors by working with founders and management teams who are looking for the right partner to help take their business to the next level," Kazuhiro added.

Harvey Schwartz, CEO of Carlyle, said, "For over 2......................

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