Carlyle Group LP pulled in $1.2 billion for Metropolitan Real Estate's Secondaries Program II at closing.
The initiative, which had a $750 million target, invests in the global real estate secondaries market and offers liquidity to investors in private equity funds and other partnership strategies.
The global alternative asset manager said the program has completed five investments across major property types in the U.S., Europe and Asia.
Metropolitan Real Estate is part of Carlyle's Investment Solutions division. The real estate private equity investment platform manages global real estate commingled funds and separate accounts comprising primary investments, direct property co-investments and secondaries.