Carlyle raises $1.4bn for energy credit

The Carlyle Group has garnered $1.38 billion for its Carlyle Energy Mezzanine Opportunities Fund, which will invest in projects and companies in the energy sector. Target investments will be in the range of $20million to $150 million. The final amount was almost double the initial $750 million target for the fund. Law firm Simpson Thacher & Bartlett advised on the fundraising. Carlyle managing director David Albert said: “[The fund] provides growth capital which is less dilutive and more flexible than traditional private equity. We enable owners to maintain control of their companies’ governance and to retain the bulk of the equity upside.”