June 12 U.S. private equity firm Carlyle Group
is preparing to launch a U.S. real estate fund and hopes
to raise as much as $4 billion, the Wall Street Journal
reported, citing unnamed sources familiar with the matter.
If successful, the fund would be one of the largest new
property funds any firm has raised since the financial crisis,
the Journal said. ()
Rivals Blackstone Group LP, TPG Capital Management LP
and KKR & Co LP already have funds to tap into
the real estate market. Blackstone has more than $54 billion of
property assets under management.
"We believed in the inherent value of the investments we
were making despite the noise in the market," Robert Stuckey,
head of Carlyle's U.S. real estate group, told the Journal. He
declined to discuss the new fundraising.
In June, Crown Acquisitions and real estate investment firm
Highgate agreed to buy from Carlyle a 27-story glass and steel
office and retail tower at 650 Madison Avenue for about $1.3
Carlyle, which has about $176 billion in assets under
management, could not immediately be reached for comment by
Reuters outside of regular U.S. business hours.