Private equity firm The Carlyle Group has raised USD1.1bn for its first financial services fund, Carlyle Global Financial Services Partners.
The financial services team, which has made three investments to date, focuses on financial services companies around the world, including banks, insurance companies, asset managers and financial service providers.
“We are grateful for the support of our investors and the confidence they have placed in us. We have been exceptionally disciplined and have maintained our focus on investing where we can add the most value: mid-market and regional financial institutions that need both additional capital and the confidence that comes with an investment from Carlyle,” says P. Olivier Sarkozy (pictured), Carlyle managing director and head of the financial services team.
CGFSP has made three investments, comprising 30 percent of its fund: Bank of N.T. Butterfield & Son Limited; BankUnitedl and Boston Private Financial Holdings.