Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has raised $308 million for Carlyle Peru Fund, L.P. and its parallel vehicles, extending the South America investment presence the firm established five years ago.
The Fund will be invested by Carlyle in consultation with Credicorp, Peru’s largest bank, across industries including healthcare, retail and consumer, services to mining, construction and infrastructure businesses, and education. Carlyle opened its Lima office last year and now has four full-time investment advisory professionals based there.
Juan Carlos Felix, Carlyle Managing Director and Co-head of the South America Buyout team, said, “We see many long-term investment opportunities for our new Peru Fund in this vibrant market. South America is undergoing a transformational change toward more developed economies, with a new middle class being created, and we believe Peru is at the leading edge of that trend. We have the right team in place on the ground in Lima to partner with entrepreneurs and family business owners to create lasting value.”
Marco Peschiera, Principal and Head of Carlyle’s Peru team, said, “We believe the Peruvian private equity market remains underdeveloped, with a large percentage of medium-size family controlled businesses providing ample room for growth. Our team is well positioned to assess risks and rewards in Peru and we have a great local partner in Credicorp with its unmatched Peruvian platform. We will also benefit from Carlyle’s strong global presence and network in helping our local partners and founders take their companies to the next level of regional and global success.”
The $308 million Peru fund joins the nearly $1 billion raised by Carlyle for two investment funds dedicated to buyouts in South America and Brazil, which have invested in six companies under the direction of a team based in Sao Paulo, Brazil.