The Carlyle Group is looking to raise $5 billion for its eighth real estate fund in the first half of the year.
The private equity firm, an active player in the New York real estate market, most recently raised $4.2 billion for its seventh real estate fund in 2015.
Carlyle recently parted ways with HFZ Capital Group at the condominium development 505 West 19th Street, buying unsold units from its former partner. Last month, the company sold its stake in the Brooklyn Hilton development to former partner Flank for $88 million.
The new fund is part of Carlyle’s effort to raise $100 billion across its fund over the coming years. The firm, founded by Bill Conway, David Rubenstein and Dan D’Aniello, has $169 billion in assets under management. At the end of September, its real estate division managed $13 billion in assets.