May 31, 2025
Investments

Carlyle Raised More Than $3.4B for CRE Investments


“In terms of our latest real estate fund, we closed on an amount materially higher than what we disclosed in our earnings release, and we are progressing quickly to a final close,” CFO John Redett added. “In a challenging real estate market, it’s worth noting the exceptional performance of our franchise, which remains a key area of growth.” He expected to see “continued strength” in the area. The company is expecting “flattish” fee growth, although it showed “some real strength” on the real estate side.

According to PERE, Carlyle is working on its tenth opportunity fund, called Carlyle Realty Partners X, with an $8 billion target and a $10 billon hard cap. If Carlyle makes its target, this real estate fund would be the largest of the year, “beating out Blue Owl’s $5.16 billion Blue Owl Real Estate Capital Fund VI by a considerable margin.”

A recently announced sale of U.S. independent power producer Cogentrix brings in about another $3 billion in the third quarter. The buyer is Quantum Capital Group and affiliates. Cogentrix includes 5.3 gigawatts of natural gas-fired power plants located throughout the located throughout PJM, ERCOT, and ISO-NE regions.

In prepared remarks, Pooja Goyal, chief investment officer of global infrastructure at Carlyle, said that the company will continue investment activities in the energy and infrastructure area, “including partnering with our management teams on growth opportunities and deploying capital in new investments.”



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