Carlyle raises €660m for third technology fund

Michael Bow
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PRIVATE equity firm Carlyle Group has raised €656m (£466m) for the third version of its tech-focused buyout fund from investors, beating the previous sums collected.

The Washington-based group, which has its European headquarters on Berkeley Square in London, started raising cash from investors a year ago and will use the money to invest in Europe-focused tech firms.

It has already put the cash to work by buying Dutch networks firm Expereo and Spanish IT firm Telvent Global Services.

The sum raised beats the previous €522m raised in 2008 and €222m raised in 2005 for the fund’s first two forerunners.

Its second fund still owns a stake in snack provider Graze and and recently it sold special effects firm The Foundry to HG Capital.