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Report: Carlyle Ireland team spinning out to launch private equity fund

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Report: Carlyle Ireland team spinning out to launch private equity fund

Carlyle Group LP's Irish team intends to leave the private equity giant at the end of 2019 to launch an investment and buyout fund focused on medium-sized businesses in Ireland, The Irish Times reported, citing market sources.

Managing Directors Peter Garvey and Jonathan Cosgrave established a new company called Melior Equity Partners in July. The pair hired London-based Asante Capital Group LLP to advise on the new firm's plans in advance of a fund launch in early 2020, sources told the newspaper.

Carlyle's Irish team has been running a €290 million private equity fund with Dublin-based Cardinal Capital Group since 2014.

Three other members of the 10-member Carlyle Cardinal Ireland investment team will join the firm as Carlyle Cardinal Ireland Fund LP's investment term comes to an end later this year, according to the publication.