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Carlyle raises USD1.1bn for middle market buyouts in North America

The Carlyle Group has raised USD1.1bn for US middle market buyout investments.

Carlyle Equity Opportunity Fund (CEOF) targets control investments in middle market companies requiring equity capital of USD25m to USD150m per transaction.

The fundraising effort exceeded Carlyle’s goal of USD1bn.

“We are gratified by the strong investor demand for this fund, particularly given the challenging fundraising market. We see incredible opportunities in this large and under-served market and have a great team to pursue them,” says Rodney Cohen, managing director and co-head of the US middle market investment team. “The fund is off to a great start, with four investments in thriving middle market companies, each of which leverages Carlyle’s industry expertise and global network.”

CEOF builds on Carlyle’s more than two decades of investing more than USD3.4bn in 64 transactions in the mid-market buyout space. To date, the 14-person CEOF team has invested more than 20 per cent of the fund in four transactions: Philadelphia Energy Solutions (formerly Sunoco Refinery); Dynamic Precision Group, an aerospace component manufacturer; Worldstrides, a provider of educational student travel programmes; and Service King, the largest collision repair multi-shop operator in Texas and the third largest in the US.

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