The Carlyle Group has held a first and final close for its fund Europe Technology Partners IV (CETP IV) on its €1.35bn hard-cap.
The fund, which was launched in October 2018, is double the size of its predecessor, CETP III, a €656m vehicle that held a final close in 2014.
The fund's strategy will be directed by a team of 19 managers, led by managing directors and co-heads Michael Wand and Vladimir Lasocki.
The fund received commitments from investors across the world, including sovereign wealth funds, public and corporate pension funds, insurance companies, funds-of-funds, foundations, family offices and high-net-worth individuals.
The fund plans to make growth capital investments in lower-mid-market technology-focused companies based in Europe and the US, with EBITDA within the range of $5-25m.
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Predecessor fund held a €255m final close in 2017 after 21 months on the road