- Carlyle Group's (CG +0.2%) flagship private equity fund will use several strategies, including $2B set aside for growth and tech-focused companies, Bloomberg reports, citing people familiar with the matter.
- The new buyout fund, which is aiming to raise $22B, will include strategies in health care, aerospace and defense, and retail.
- Announced earlier this month, Brian Bernasek, who ran Carlyle's industrial and transportation group, is joining Sandra Horbach as co-head of U.S. private equity and growth investments in June. Pete Clare, who had headed the group with Horbach, will stay as chief investment officer.
- The fundraising target is set as buyout companies take advantage of strong demand for private assets.
- In the past six months, total returns for Carlyle (+54%), KKR (+48%), Blackstone (+63%), and Apollo Global (+31%) and Management have all outpaced that of the S&P 500 (+22%) as seen in chart below.
- Earlier today, Carlyle announced an investment in Unchained Labs made through its Carlyle Partners VII, an $18.5B fund that makes majority and strategic minority investments primarily in the U.S. in targeted industries, including healthcare.
- SA contributor Closed End Fund Tracker sees KKR's valuation as cheap, given its rapid growth.