Carlyle Group raises $1.1 billion for middle market deals
NEW YORK (Reuters) - Private equity firm Carlyle Group LP (CG.O) said it has raised $1.1 billion for its middle-market investment fund, which looks to invest about $25 million to $150 million of equity capital per deal.
The fundraising effort surpassed Carlyle's goal for its Carlyle Equity Opportunity Fund, which had originally been $1 billion, the firm said in a statement on Wednesday.
Carlyle Equity Opportunity has already invested more than 20 percent of the fund in four middle-market deals, including a stake in Carlyle's joint venture with Sunoco Inc SUN.N to run the largest U.S. East Coast refinery, a 330,000 barrel per day plant in Philadelphia, Pa.
It has also made investments in a aerospace-component manufacturer, a provider of educational student travel programs, and a collision repair company.
Many private equity firms and investment banks have recently beefed up their focus on middle market deals as larger deals have slowed.
"We see incredible opportunities in this large and under-served market," Rodney Cohen, co-head of Carlyle's U.S. middle market investment team, said in the statement. (Reporting By Michael Erman; Editing by Peter Galloway)
NEW YORK - Earnings season shifts into high gear next week, and with nearly one-third of S&P 500 names set to post results, investors hope the news provides a catalyst to buy stocks and leave the market's recent weakness in the dust.
- The troubles at BlackBerry Ltd, which fired more than half its staff and lost more than 90 percent of its market value as consumers shunned its smart phones, might have spelled disaster for the company's hometown of Waterloo, Ontario. Instead, there are hot sports cars in the streets and new companies filling the refurbished office buildings. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.