Carlyle seeks $5B for new US real estate fund

Private equity firm is active in NYC development

TRD NEW YORK /
Jan.January 11, 2017 12:06 PM

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.

Carlyle is also partnering with Alchemy Properties on two ground-up residential developments, among other projects.

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.

A recent report by research firm Preqin found that an increasing share of investor capital is flowing to larger fund managers, at the expense of their smaller peers.  [Bloomberg]Konrad Putzier


Related Articles

arrow_forward_ios
235 West 48th Street and Carlyle Group managing director Jason Hart (Credit: Google Maps and Carlyle Group)

Carlyle takes majority stake in Ritz Plaza rental building for $251M

The mobile home park model is “financially catastrophic” for homeowners, John Oliver says

The mobile home park model is “financially catastrophic” for homeowners, John Oliver says

Slate Property’s Scale Lending strikes first deal for a Brooklyn resi project

Slate Property’s Scale Lending strikes first deal for a Brooklyn resi project

Carlyle Group expands at One Vanderbilt

Carlyle Group expands at One Vanderbilt

These were the top 10 outer borough loans last month

These were the top 10 outer borough loans last month

Carlyle Group pays record price for Queens rental tower, scores $180M loan

Carlyle Group pays record price for Queens rental tower, scores $180M loan

National Cheat Sheet: Flooding threats hurting coastal home prices, CBRE gets into coworking … & more

National Cheat Sheet: Flooding threats hurting coastal home prices, CBRE gets into coworking … & more

Carlyle Group secures $160M refi for 866 UN Plaza

Carlyle Group secures $160M refi for
866 UN Plaza

arrow_forward_ios
Loading...