Carlyle raises €2,2 billion for new fund

Lagt online 04.06.08

The Carlyle Group Raises €2.2 Billion for Third European Real Estate Fund; With Up to €9.9 billion of Funds Available, CEREP III is Europe’s Largest Private Equity Fund Dedicated to Real Estate Investment. In Copenhagen the huge development project Christiansberg south of the center of Copenhagen and the former domicile of the largest telecompany TDC in Central Copenhagen is included in the fund.

Carlyle’s strategy is to identify real estate assets which need repositioning, often sourced through public or corporate disposals, where there is strong underlying potential for value creation. Carlyle develops new buildings or transforms existing assets into higher specification properties, which often set benchmarks for quality and sustainability.

The identification and development of assets is undertaken by Carlyle’s use of two in-house advisory teams, focused on investment and asset management. The teams, based in Paris, London, Frankfurt, Madrid, Milan, Luxembourg and Stockholm, have deep knowledge of their local markets and excellent relationship networks. 

- To have raised a fund of this scale, which exceeded our original target by a significant margin, underlines the continued confidence of investors in both the potential of real estate markets across Europe and Carlyle’s ability to deliver superior returns. Our network of local country investment and asset management teams is an attractive proposition for investors, whose preference is to invest in vehicles where they can achieve focused asset class and pan-European geographic diversity through a single fund, rather than on a country-by-country basis,  says Eric Sasson, head of Carlyle’s real estate operations in Europe. 

Read more www.carlyle.com

Illustration: German Bolles+Wilsons is to draw the masterplan for the development of the new city Christiansberg in cooperation with Danish Juul Frost.

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