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Report: Carlyle fund expected to close at $18.5B

Carlyle Group LP is expected to close its Carlyle Partners VII fund in the first quarter of 2018 at its $18.5 billion cap, Bloomberg News reported, citing "people with knowledge of the situation."

The fund will target deals in North America and was initially targeting $15 billion. It will include about $1 billion from Carlyle and its executives, according to the report.