The Carlyle Group has begun fund raising for its third European Fund, Carlyle Partners Europe III. The private equity firm aims to raise €3bn, nearly twice as much as its last European fund – Carlyle Partners II – which closed in March of last year at €1.8bn (US$2.2bn) and is over 70% invested. Carlyle Partners IV which raised US$7.85bn for buy-outs in the US closed at the same time.
Carlyle also has funds raised for Japan, Asia and the power and energy sectors. The success of Carlyle Partners II which was launched in 2003 and includes investments in Britax Childcare, the car seat maker, Hertz and components business Avio, could mean that the Carlyle raises more than €3bn for this latest fund.