Global alternative asset manager The Carlyle Group (NASDAQ:CG) today announced the final close of Carlyle Partners VI, a $13 billion fund that invests in U.S. corporate buyouts and strategic minority investments across six industries. Two hundred sixty-nine investors from 43 countries committed capital to the fund. The team began fundraising in late 2011 with a $10 billion target.
Allan Holt, Managing Director and Co-head of the U.S. Buyout Group, said, “We are grateful for the support of our fund investors, many of whom are repeat investors. Institutional and individual investors across the globe understand the value of having a proven buyout fund in their portfolio. We will take good care of their money as we work to invest wisely and create value.”
Peter Clare, Managing Director and Co-head of the U.S. Buyout Group, said, “Our deep and experienced industry investment teams continue to identify attractive investment opportunities. Combining that industry knowledge with Carlyle’s 27 Operating Executives and global network creates a powerful platform for value creation for our fund investors. Growth drives most of our value creation and we have built the capabilities necessary to find and accelerate real growth.”
Carlyle’s previous U.S. buyout fund, the $13.7 billion Carlyle Partners V, closed at the end of 2008. Notable investments in that fund include Axalta Coating Systems, formerly DuPont Performance Coatings; Beats Electronics LLC; Booz Allen Hamilton Inc.; and Pharmaceutical Product Development Inc. (PPD).Demonstrating alignment with fund investors and confidence in the team, Carlyle, its senior professionals, operating executives, other professionals and advisors committed $1 billion in capital alongside Carlyle Partners VI fund investors, who committed $12 billion. The U.S. Buyout Group is part of Carlyle’s Corporate Private Equity segment, the oldest and largest of the firm’s four business segments, with Assets Under Management of $62 billion as of September 30, 2013. Corporate Private Equity, with 262 investment professionals, operates 14 fund families worldwide with more than 150 portfolio companies as of September 30, 2013. The U.S. Buyout Group specializes in six industry sectors: Aerospace, Defense & Government Services; Consumer & Retail; Healthcare; Industrial & Transportation; Telecommunications & Media; and Technology.