The Carlyle Group raises $6.55bn

The US-based asset manager closes its fifth and largest Asia buyout fund.

The Carlyle Group held a final close for its fifth Asia buyout fund, Carlyle Asia Partners V, on $6.55 billion at its hard-cap.

The fund, which exceeded its target of US$5 billion, is the largest one in the firm’s Asia buyout fund series. It is 65 percent larger than its predecessor, Carlyle Asia Partners IV, closed on $3.88 billion in 2014.

The vehicle will target Asia Pacific buyout and strategic investments in six sectors: consumer retail, financial services, telecommunications, media and technology (TMT), healthcare and industrials.