Carlyle to raise global fund target

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Carlyle is expecting to reach the $9bn mark for its latest global fund within this quarter and may even raise it to $12bn, dwarfing its European vehicle, which is expected to close on €3bn, according to reports.

Carlyle is believed to be mulling over raising the target of its global fund to $12bn if demand supports it. The fund has so far raised $7.1bn towards its initial $10bn target, according to reports.

Meanwhile, the firm's European PE fund will only target €3bn, €2.4bn less than its predecessor raised in 2006, reports suggested. Carlyle's Asian vehicle is targeting $3.5bn, almost the same as the European fund.

The global firm posted flat earnings for the first three months of the year, according to its first quarter financial results published on Thursday. Its pre-tax economic net income of $394m was only $2m more than in the previous year.

Carlyle raised a total of $4.9bn in new capital in Q1 2013 and $16.9bn over the past 12 months. The firm realised proceeds of $4.1bn in Q1 2013, compared with the $19.1bn realised in the last four quarters.