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Carlyle To Launch Latest U.S. Real Estate Fund With $5B Target

Carlyle Group's David Rubenstein at a 2016 Bisnow event.

Private equity firm Carlyle Group is pushing further into real estate investment by launching its eighth U.S. real estate fund, this one with a $5B target.

The fund, Carlyle Realty Partners VIII, is expected to go live within the first half of the year. It is part of the firm’s goal to raise $100B within the next four years as it seeks to buy out property funds that are nearing the end of their investment cycles. Carlyle’s latest North American fund, Carlyle Realty Partners VII, closed after raising $4.2B in commitments and was double the size of its sixth fund, Bloomberg reports.

As of Sept. 30, the firm, run by co-CEO David Rubenstein (above) had roughly $13B in assets under management in nine active funds. [Bloomberg]