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Funding for 2 Carlyle real estate funds hits close to $5B

Washington, D.C.-based alternative investment firm Carlyle Group drew close to $5 billion in commitments for its latest real estate funds, PERE News reported.

The firm collected nearly $4 billion for Carlyle Realty Partners VIII, or CRP VIII, and almost $1 billion for Carlyle Property Investors, according to the report.

Investors in the CRP VIII fund include the Teachers' Retirement System of the State of Illinois and the Pennsylvania Public School Employees' Retirement System, which committed $200 million each, PERE noted, citing its own data.

The Florida State Board of Administration earmarked $100 million each to both funds. Other investors in the Carlyle Property Investors fund include the New Hampshire Retirement System, which allocated $15 million.

CRP VIII is Carlyle's eighth opportunistic fund focused on North America with a target of at least $5 billion. Carlyle Property Investors is the firm's open-ended core-plus fund focused on the U.S. that debuted in 2016.