The Carlyle Group has raised a new $1.1 billion fund, Carlyle Equity Opportunity Fund, to make control investments in middle market companies requiring equity capital of $25 million to $150 million per transaction. The fundraising effort exceeded Carlyle’s goal of $1 billion.
“We are gratified by the strong investor demand for this fund, particularly given the challenging fundraising market. We see incredible opportunities in this large and under-served market and have a great team to pursue them,” said Rodney Cohen, Managing Director and Co-head of the U.S. middle market investment team. “The fund is off to a great start, with four investments in thriving middle market companies, each of which leverages Carlyle’s industry expertise and global network.”
The Carlyle Equity Opportunity Fund (CEOF) builds on Carlyle’s more than two decades of investing more than $3.4 billion in 64 transactions in the mid-market buyout space. So far the 14-person CEOF team has invested more than 20% of the fund in four transactions: Philadelphia Energy Solutions (formerly Sunoco Refinery); Dynamic Precision Group, an aerospace component manufacturer; Worldstrides, a provider of educational student travel programs and Service King, the largest collision repair multi-shop operator in Texas and the third largest in the United States.
“Carlyle’s strong, 25-year track record in smaller buyouts, together with the competitive advantages from Carlyle’s global reach, extensive portfolio company holdings and dedicated industry teams, position us to make attractive investments, including our recent investment in Philadelphia Energy Solutions, which saved Sunoco’s Philadelphia refinery,” said Brooke Coburn, Managing Director and Co-head of the U.S. middle market investment team.
The Carlyle Group invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. The Carlyle Group employs 1,300 people in 32 offices across six continents and is based in Washington, DC (www.carlyle.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-7-12