Deals
Carlyle Seeks Smaller Targets in Land Private Equity Forgot
- Closes fundraising for third dedicated fund targeting mid-caps
- Has already made four investments, won't rule out bigger deals
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Carlyle Group, which oversees about $193 billion, will use the almost $1 billion in its third Japan buyout fund to acquire family-owned firms and other mid-cap companies, according to its local co-head.
Carlyle, the world’s second-largest private equity manager, is known in the U.S. for buying household names for tens of billions of dollars. In Tokyo, it often goes for family-owned companies with enterprise values of less than $300 million. Tamotsu Adachi, managing director and co-representative for Japan, says he’s sticking with this approach after finishing raising 119.5 billion yen ($996 million) for the latest fund last month. He says health-care and consumer companies are two of the top targets.