WASHINGTON, D.C. — Global alternative asset manager The Carlyle Group (NASDAQ: CG) has raised $4.2 billion for its seventh U.S. real estate fund, Carlyle Realty Partners VII (CRP VII), reaching the fund’s hard cap. The CRP team of 85 investment professionals focuses on investments across all major real estate sectors and major metropolitan areas in the United States.
Nationally, Carlyle has completed more than 500 real estate investments across its seven funds, seeking to identify investments that benefit from strong fundamentals across 11 sectors and 30 markets.
Carlyle Realty Partners’ six prior funds have been active in both residential and commercial real estate. In residential, the group has invested in a total of 62,000 housing units, including 42,000 multifamily apartment units and more than 20,000 senior living, student housing and for-sale residential units. CRP has also invested in approximately 41 million square feet of office, industrial, data center and retail, including investments in the San Francisco Bay Area/Silicon Valley, New York City and Washington, D.C. markets.
“We believe the robust interest in CRP VII is acknowledgement of our successful focus on opportunistic investments in U.S. real estate, and we look forward to continuing to create value in our portfolio,” says Robert G. Stuckey, managing director and head of Carlyle’s U.S. real estate team.
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $193 billion of assets under management across 128 funds as of June 30. Carlyle aims to create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments: corporate private equity, real assets, global market strategies and investment solutions in Africa, Asia, Australia, Europe, the Middle East, North America and South America.
The Carlyle Group’s stock price closed at $20.49 on Tuesday, Sept. 15, down from $30.69 one year ago.
— Haisten Willis