The Carlyle Group has raised $4.2bn (€3.7bn) for an opportunistic fund focused on the US.
The investment manager said its seventh US real estate fund, Carlyle Realty Partners VII, had reached its hard cap.
Robert Stuckey, managing director and head of Carlyle’s US real estate team, said: “We appreciate the strong support of our investors.
“The robust interest is acknowledgement of our successful focus on opportunistic investments in US real estate, and we look forward to continuing to create value in our portfolio.”
The company said its 85 investment professionals made opportunistic investments across all major real estate sectors and major metropolitan areas within the US.
Carlyle’s six prior funds have invested in residential and commercial real estate.
In residential, the group has invested in 62,000 housing units, including 42,000 multifamily apartment units and more than 20,000 senior living, student housing and for-sale residential units.
In commercial real estate, CRP has invested in around 41m sq ft of office, industrial, data centre and retail properties, including investments in the San Francisco Bay Area/Silicon Valley, New York City and Washington, DC markets.