Carlyle fund raises €290m

An Irish private equity fund aimed at investing in small and medium enterprises closed yesterday having raised €290m.

The Carlyle Cardinal Ireland Fund, run by asset managers, the Carlyle Group and Cardinal Capital, performed extremely well with investment levels at the “higher end” of the partners’ expectations, according to a Carlyle spokesperson.

The success of the fundraising process illustrates the favourable investment opportunities available in the Irish market at present, according to Carlyle managing director Robert Easton.