The Carlyle GroupÂ (Nasdaq: CG)Â has raised $18.5 billion for its latest fund that invests in U.S. companies in defense and government services and aerospace industries.
The private equity firm said MondayÂ the amount of capital raised for the Carlyle Partners VII fund surpassed the $15 billion target, reflecting a 42 percent increase over the previous fund.
The $18.5 billion fund, which attracted over 320 investors across 57 countries, also makes strategic investments in health care; technology, media and telecommunications; industrial and transportation; and consumer and retail sectors.
Frank Finelli, aÂ 2015 Wash100 winner, serves as a managing director at Carlyle and oversees its investments across the defense, aerospace, security technology and services sectors.
Finelli is also a member of the 74-person U.S. buyout team that operates as part of the firm’s private equity business segment that manages approximately $81 billion in assets.