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Carlyle targeting $1.6bn for second renewables fund

Carlyle Group is targeting at least $1.6 billion for a second private equity fund which will focus on investments in renewable energy and sustainability assets, according to a report by Reuters. 

The report cutes sources familiar with the matter as saying that Carlye began raising capital for Carlyle Renewable & Sustainable Energy Fund II earlier this year, which it  achieves its target size, will be twice the size of its $800 million predecessor fund.

Carlyle has already been active in renewable energy and sustainability sector investments this year, investing $350 million to acquire a majority stake in US renewable energy developer Aspen Power Partners in November as well as launching Telis Energy which will target clean energy projects in Europe.

And In August, Carlyle invested an undisclosed amount in green hydrogen developer Eneus Energy Ltd alongside Singapore’s sovereign wealth fund GIC. 

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