Global investment firm The Carlyle Group is looking to raise as much as $27bn in what would represent the industry’s biggest ever buyout fund.
Carlyle is in discussions with investors about the size of the fund, according to Bloomberg reports citing insiders, which could see the total change.
If the buyout group achieves its target amount, the fund would overtake Blackstone Group’s record $26bn pool in 2019, and would be 46 per cent larger than Carlyle’s last flagship vehicle from 2018.
It comes as global private equity firms are flush with cash from investors eyeing deals amid soaring company valuations.
Global PE firms raised a total of $514 billion in the first half of this year alone – up 70 per on the same period in 2020, according to Preqin data.
The global PE market is forecast to keep on growing over the next few years, with Deloitte predicting worldwide PE assets under management will reach $5.8tn by 2025 in a recent report.
Just last week, US private equity firm Hellman & Friedman closed its largest ever flagship fund, at $24.4bn.
KKR & Co raised $18.5bn in May and Bain Capital’s North American flagship funds raised $11.8bn in April from employees and outside investors.
Carlyle’s new fund will invest in growth-focused companies across sectors including technology, healthcare and retail, according to Bloomberg’s sources.
Carlyle Group has been contacted for comment.