Private equity major the Carlyle Group has closed its latest Asia-focused buyout fund – Carlyle Asia Growth Partners VII, which launched in April 2021 – with $950 million in capital commitments, according to a report by DealStreetAsia.
The report cites board documents from one of the fund’s limited partners as revealing that the new vehicle will focus on growth equity investments in fast-growing businesses primarily operating in the technology, business services, health care, consumer, media and retail industries.
The fund reportedly had an original target $1 billion in total, and according to a recent Securities and Exchange Commission filing, attracted $621 million from 61 US-based investors, including the School Employees Retirement System of Ohio, which committed $75 million last year.
The predecessor fund, initially named Carlyle Asia Growth Partners VI, closed in 2018 at $339 million.
Carlyle now manages five Asia buyout funds with a combined $15.55 billion, and two China funds.
