Buyout

The Oslo-based firm is expanding its North American LP base as investors there increasingly look to Europe for outsized returns.

Gene Yoon tells Buyouts that the firm assesses deployment rates and aims to avoid risk-return dilution when setting its fund size targets – though Fund V represents a 32% increase over its predecessor.

The market’s 'renewed focus' on domestic and regional funds fuelled its recovery amid reduced western investment, says the report.

NPMI Fund II could be six times larger than its predecessor, PEI understands.

Along with the $50bn targeted for private equity over 2026-28, Carlyle aims to bring in more than $90bn for global credit strategies and more than $60bn for Carlyle AlpInvest, its secondaries platform.

“We have sent significant capital back to our investors over the last two to three years, and as you can imagine, it was very well-received given the liquidity-starved environment many LPs have highlighted,” said Neil White, the firm’s president and managing partner.

The manager, which has some $7bn in AUM, is now under the sole control of co-founder Adam Waglay.

The firm is eyeing more appointments in Hong Kong and Singapore soon, Asia investor relations head Chris Cho tells PEI.

'Our portfolio meets the times,' Brian Bernasek, co-head of Americas corporate private equity at Carlyle, told Buyouts. 'We have assets that buyers want.'