<article>Global alternative investor <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/india-carlyle-group-merges-growth-buyout-verticals-80468/" target="_blank" rel="noopener">The Carlyle Group</a> has completed a first close of its fifth Asia buyout fund Asia Partners V at over $4.5 billion, the firm said in its third-quarter earnings call on October 30.</article>

Global alternative investor <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/india-carlyle-group-merges-growth-buyout-verticals-80468/" target="_blank" rel="noopener">The Carlyle Group</a> has completed a first close of its fifth Asia buyout fund Asia Partners V at over $4.5 billion, the firm said in its third-quarter earnings call on October 30.
With a target of $5 billion, the fund will be Carlyle&#8217;s biggest capital raise for Asia if it achieves that milestone.
Post the first closing, the firm will now be making investments from the fund. The fund was launched earlier this year.
Carlyle had raised $3.9 billion for its previous buyout fund, <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/us-based-sers-commits-100m-to-asian-pe-partners-79134/" target="_blank" rel="noopener">Asia Partners IV</a>, breaching the target of $3.5 billion. That fund had invested in Chinese firms Ganji.com, online realty firm Fang.com and Shanghai ANE Juchuang Supply Chain Management among other Asia companies.
Announcing its un-audited results for the third quarter ended September 30, the firm said, Carlyle was performing well across all metrics and declared a third quarter common unit holder distribution of $0.56.
&#8220;We are pleased to have resolved and put behind us all of the major challenges that we have faced over the past few years. This is the right time to announce a change in leadership, and we believe the best days for Carlyle are ahead of us,” Carlyle Co-CEO David M Rubenstein said.
Last week, Rubenstein who has been the face of Carlyle passed the torch to the new executive team. Carlyle named Kewsong Lee and Glenn A Youngkin as Co-CEOs of The Carlyle Group and Peter J. Clare to become Co-Chief Investment Officer alongside current CIO William E. Conway, Jr.
The firm&#8217;s global investment teams invested nearly $7 billion of capital during the third quarter, the highest quarterly level since its IPO. The investments were made into a diverse mix of new assets and have deployed over $20 billion of capital during the past twelve months. As a global alternative asset manager, the firm has $174 billion of assets under management across 306 investment vehicles, according to its website.
In addition to Carlyle, other private equity firms globally are also mopping up capital through fund raises for investment in Asia where growth has been attractive as compared to other developed markets. Blackstone is looking to raise up to $3 billion for its pan-Asia buyout fund while KKR closed its record fund for the region at $9.3 billion.
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<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/buyout-firms-crave-buffett-long-game-85236/" target="_blank" rel="noopener">Buyout firms eye Buffett-like long game but find the going tough</a>
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/carlyle-targets-first-close-new-asia-buyout-fund-4-billion-sources-82771/" target="_blank" rel="noopener">Carlyle targets first-close of new Asia buyout fund at over $4b</a>
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Carlyle makes $4.5b first close for blockbuster fifth Asia fund

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Carlyle makes $4.5b first close for blockbuster fifth Asia fund

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