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David Rubenstein-Backed Firm Taps World’s Rich for US Bets

  • Declaration Partners raises $240 million in first outside fund
  • Fund targets multifamily housing, industrial properties in US
David Rubenstein
David RubensteinPhotographer: Jason Alden/Bloomberg
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An investment firm backed by Carlyle Group Inc. co-founder David Rubenstein has raised money from some of the world’s super-rich, creating its first fund employing outside cash.

Declaration Partners collected $240 million from wealthy individuals and family offices to target multifamily housing and industrial properties across the US, the New York-based company said in a statement. Rubenstein is also an investor in the vehicle.