Global investment firm Carlyle has announced the final close of its tenth U.S. opportunistic real estate fund, Carlyle Realty Partners X (CRP X), with total commitments of $9 billion. This new fund surpasses its predecessor, which raised $8 billion in 2021.
CRP X will focus on sectors with strong tailwinds, such as residential, self-storage, and industrial properties. The fund will have no exposure to the office, hotel, or retail sectors, which the firm has strategically avoided in recent years.
The fund is backed by a U.S. Real Estate team of over 140 professionals, with senior leaders averaging 20 years of tenure at the firm.
KEY QUOTE:
“Amid one of the most difficult fundraising environments for real estate in recent memory, we’re grateful for the trust our limited partners have placed in us. This capital raise reflects both the strength of our team and the proven performance of our strategy, particularly through complex market cycles. Our ability to avoid structurally challenged areas and invest with discipline in a turbulent environment reinforces the value of our distinctive approach to fund construction and has led to meaningful recommitment from existing investors as well as strong support from new relationships. This is a compelling moment to invest, as we see improving fundamentals across our target sectors coupled with an environment of relatively constrained liquidity.”
Rob Stuckey, Head of Carlyle’s U.S. Real Estate team since 1998
