Carlyle Seeks to Raise $22 Billion for Flagship Buyout Fund

Carlyle Group Inc. plans to raise $22 billion for its eighth flagship private equity fund, according to people familiar with the matter.

The fund will pursue several strategies including $2 billion earmarked for growth and technology-focused companies, said the people, who asked not to be identified because the information isn’t public.

Buyout firms have been capitalizing on robust demand for private assets and investors have taken notice. Shares of Carlyle, Blackstone Group Inc. and KKR & Co. have gained more than 30% this year.

A representative for Washington-based Carlyle declined to comment.

Earlier this month, Carlyle said that Brian Bernasek, who ran the firm’s industrial and transportation group, would join Sandra Horbach as co-head of U.S. private equity and growth investments in June. Pete Clare, who formerly headed the group with Horbach, will remain chief investment officer.

The new buyout fund will include strategies in retail, health care and aerospace and defense.

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