Carlyle is re-joining other private equity firms on the global opportunistic real estate fundraising trail,, PERE reported. The largest of these is Starwood Capital Group's Starwood Opportunity Fund XI Global, according to PERE data. The Greenwich, CT-based firm is targeting between $5 billion and $6 billion and held a first close in October at $2.7 billion.

Brookfield Asset Management is also likely to begin marketing its next opportunistic vehicle soon. The Toronto-based investment manager closed Brookfield Strategic Real Estate Partners (BSREP) II last April at $9 billion, PERE reported last spring.

As Q3 ended, BSREP II was already 67% invested, and CFO Brian Lawson said on an earnings call in November that Brookfield typically begins fundraising for its next fund once its predecessor is 70% to 75% invested. Brookfield is also raising capital for its open-ended real estate fund and a real estate finance vehicle.

In common with Brookfield, Carlyle is also raising funds for another real estate strategy, a core-plus fund, Carlyle Property Investors. This past August, PERE reported that the firm had raised about $500 million for the vehicle and expected to raise another $500 million before the end of the year.

WASHINGTON, DC—The Carlyle Group intends to raise $5 billion for Carlyle Realty Partners VIII, its eighth opportunistic fund and its largest yet in the real estate space, according to published reports. CRP VII closed at $4.2 billion in December 2014.

In turn, CRP VII was nearly double the size of CRP VI, Bloomberg reported. The sixth fund was generating a net IRR of 22% as of Sept. 30, according to the company's third-quarter report. CRP VII had $1.9 billion invested and a 1.2x investment multiple as of Sept. 30, PERE reported.

Based in Washington, DC, the alternative asset manager started pre-marketing on CRP VIII during Q3 of last year, chief executive David Rubenstein said on Carlyle's October analyst call. He added that “the reception to that [pre-marketing] has been pretty good” and the “fund is pretty likely to be bigger than the last one,” according to PERE.

The firm's opportunistic series focuses on acquisitions, value enhancements and dispositions of mispriced and undervalued real estate assets in the US, mainly single-asset transactions involving office, residential, senior living, hotel and retail properties. Carlyle invested more than $300 million in real estate during Q3, with an emphasis on healthcare properties.

Carlyle is re-joining other private equity firms on the global opportunistic real estate fundraising trail,, PERE reported. The largest of these is Starwood Capital Group's Starwood Opportunity Fund XI Global, according to PERE data. The Greenwich, CT-based firm is targeting between $5 billion and $6 billion and held a first close in October at $2.7 billion.

Brookfield Asset Management is also likely to begin marketing its next opportunistic vehicle soon. The Toronto-based investment manager closed Brookfield Strategic Real Estate Partners (BSREP) II last April at $9 billion, PERE reported last spring.

As Q3 ended, BSREP II was already 67% invested, and CFO Brian Lawson said on an earnings call in November that Brookfield typically begins fundraising for its next fund once its predecessor is 70% to 75% invested. Brookfield is also raising capital for its open-ended real estate fund and a real estate finance vehicle.

In common with Brookfield, Carlyle is also raising funds for another real estate strategy, a core-plus fund, Carlyle Property Investors. This past August, PERE reported that the firm had raised about $500 million for the vehicle and expected to raise another $500 million before the end of the year.