The Carlyle Group has raised 119.5 billion $989 million for its third yen-denominated buyout fund, surpassing its fundraising goal of 100 billion, the private equity firm said on Thursday.
The fund called Carlyle Japan Partners lll will target mid-cap companies across various sectors, the US private equity fund said in a statement. The fund already has already made four investments, a relatively swift pace although the firm's deal pipeline had become backed up.
The fund raising process has been exacting. “It’s been a very slow fund raise,” said one limited partner. It took about two years to raise the capital, he said.