The Carlyle Group has closed its latest US mid-market buyout vehicle Carlyle Equity Opportunity Fund II (CEOF II) on its $2.4 billion hard-cap, the firm said.
CEOF II had an initial target of $2 billion, according to PEI Research & Analytics. It began fundraising around late-2014 and held a first close on $1 billion in March, according to reports. It will invest $20 million to $200 million in equity capital per deal in mid-market companies, the firm said.
According to Carlyle’s website, CEOF is control-oriented and leverages the firm’s “OneCarlyle” platform, which spreads across six core US sectors. CEOF II has invested in cosmetics merchandising solutions provider Array Canada, transportation and offshore services company SEACOR Marine Holdings, and business services company LDiscovery, all in December.
One of the investors in the fund was the Los Angeles City Employees’ Retirement System, which committed $200 million, according to PEI Research & Analytics.
TCG Securities, an affiliate of Carlyle, was the broker/dealer for the fund, according to the firm’s March filing with the US Securities and Exchange Commission.
Its predecessor, CEOF, is a 2011-vintage vehicle which raised $1.2 billion, according to PEI Research & Analytics. Its investors include Dubai-based investment firm Starling Group, Colombian pension fund AFP Protección and US insurance company St. Paul Fire and Marine Insurance Company.
A Carlyle spokeswoman was not available to comment.