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 intank.com, a US company that makes cleaner robots for above ground storage tanks. The fund invested $17.5m in intank in November last year.
Carlyle raises second energy fund
The private equity firm is seeking investors for a second fund aimed at the global energy market.