Carlyle raises second energy fund

The private equity firm is seeking investors for a second fund aimed at the global energy market.

Carlyle, the global private equity and alternative asset manager, is understood to be seeking investors for its second global energy fund.

The target for the unnamed fund is set at $1bn, and it is expected this amount will be secured within a year. The fund will look for investment opportunities around the world and invest between $50m and $150m each time.

Carlyle’s first energy fund, a joint venture with Riverstone Holdings, closed at $222m early last year. Most of Carlyle/Riverstone Global Energy and Power Fund I has been put to work.

Investments made by the fund include, a US company that makes cleaner robots for above ground storage tanks. The fund invested $17.5m in intank in November last year.