The Carlyle Group has raised $1.5 billion for its Carlyle Strategic Partners IV, according to a SEC filing. The Washington D.C.-headquartered firm began fundraising in 2015 with a $2 billion target.
Its previous fund raised $703 million in 2013.
Investors that committed to Carlyle Strategic Partners IV include the Minnesota State Board of Investment.
The fund will target distressed opportunities in a diverse number of sectors in North America and Europe.