Carlyle Group LP, the second-largest private-equity firm, raised $1.1 billion, more than it sought, for investments in so-called mid-market companies in the US.
The Carlyle Equity Opportunity Fund will make investments of $25 million to $150 million in these companies, the Washington-based firm said today in a statement.
“We see incredible opportunities in this large and under-served market and have a great team to pursue them,” Rodney Cohen, managing director and co-head of the U.S. middle market investment team, said in the statement.
Carlyle has invested more than $3.4 billion in 64 transactions in the middle market over two decades. The Equity Opportunity Fund has made four deals representing more than 20 percent of the fund, including Philadelphia Energy Solutions, formerly Sunoco Refinery, and Dynamic Precision Group, an aerospace component manufacturer.