C
arlyle has secured a record $9 billion for its latest US real estate fund, according to the investment group. This significant haul will be deployed into land and buildings as the sector shows tentative signs of recovery in certain areas. Despite challenging fundraising conditions, Carlyle's tenth fund of its kind has surpassed its predecessor's 2021 total of $8 billion.
The global private capital raised for real estate investments plummeted to $131 billion last year, its lowest since 2012, but is now rebounding driven by large-scale fundraising efforts. Carlyle's head of US real estate, Rob Stuckey, attributes the success to investors' confidence in the fund despite a difficult environment.
The new fund will focus on residential, self-storage, and industrial sectors, avoiding office, hotels, and traditional retail spaces deemed structurally challenged. Stuckey sees improving fundamentals in these target areas as a compelling reason to invest, with reduced market liquidity presenting an advantage for Carlyle's strategy.
