Carlyle half way to European buyout fund target

Carlyle has already raised €2.4 billion of its €4.6 billion European buyout fund

The Carlyle Group has continued its recent fundraising success by raising €2.4 billion ($3.1 billion) from investors for its third European buyout fund.

The US firm is planning to raise €4.6 billion for the fund and is already over half way to this total, according to a regulatory filing with the US Securities and Exchange Commission. Industry sources have suggested that investor demand could send the euro-denominated fund even higher, to €5 billion.

The latest fund would be the largest pool of capital the firm has ever raised to target European deals. Its last fund, Carlyle European Partners II, closed at €1.8 billion in 2005.

Carlyle is expected to hold a first close on the latest fund at €3 billion.

Carlyle is enjoying a bumper period for fundraising throughout its business. The firm raised over $4 billion (€3.1 billion) for investments in Asia alone in 2006, and also began raising a $15 billion fund for US buyouts. It is also organising smaller funds focused on infrastructure, real estate, Central America and venture capital.