Global alternative investments powerhouse Carlyle Group has closed on its third European technology and media buyout fund, raising €656 million. It is the company’s largest such fund to date.
The fund, named Carlyle Europe Technology Partners III, shows the global appetite for tech and media companies in the region. It began raising money a year ago and has already made two investments – Dutch networking specialist Expereo and Spanish IT company Telvent, according to a Carlyle statement.
Half the capital in the new fund consists of commitments from investors in the company’s second European tech fund, which raised €522 million in 2008. The majority of the fund’s investors are based in Europe and the U.S.
As with the prior two funds, the new vehicle’s primary investment focus will be on emerging European telecommunications, media and technology companies and other companies that offer growth opportunities through innovative technologies and intellectual property.
“We have been investing in small-cap buy-outs in the European technology sector for 15 years through various industry cycles,” noted Michael Wand, the head of Carlyle Europe Technology Partners, in a press release. “During this time, we have been involved with some leading European technology companies and we look forward to supporting the next generation of entrepreneurs in their global growth ambitions.”
The Carlyle Group is a global alternative asset manager with $193 billion of assets under management across 130 funds and 156 fund of funds vehicles as of March 31, 2015. It is publicly traded on the NASDAQ under the symbol CG.