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New York

Carlyle announces new $2.34B real estate fund

Carlyle Group announced a new real estate fund, Carlyle Realty Partners VI, which has $2.34 billion to spend on opportunistic investments in major cities in North America, the Wall Street Journal reported. The fund, Carlyle’s sixth, will invest in the residential, hotel, senior living, retail and office sectors in markets like New York City, Washington D.C., and major West Coast cities, the company told the Journal.

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The fund is one of the largest since the collapse of Lehman Brothers Holdings, in 2008, the Journal said.

“Strong investor demand, which enabled us to exceed our target, is commensurate with the opportunity we see for attractive property investments in select U.S. markets,” said Robert Stuckey, managing director at Carlyle. [WSJ]

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Carlyle Group