Global investment firm Carlyle has announced the final close of its tenth U.S. opportunistic real estate fund, Carlyle Realty Partners X (CRP X), securing $9 billion in total commitments despite a challenging fundraising environment.
The fund surpasses its predecessor, Carlyle Realty Partners IX, which closed at $8 billion in 2021, and continues the firm’s strategic focus on high-growth sectors driven by long-term demographic and technological trends.
CRP X will target investments in residential, self-storage, and industrial assets—areas underpinned by favorable supply-demand dynamics—while deliberately avoiding exposure to office, hotel, and retail properties.
“Amid one of the most difficult fundraising environments for real estate in recent memory, we’re grateful for the trust our limited partners have placed in us,” said Rob Stuckey, Head of Carlyle’s U.S. Real Estate team. “This capital raise reflects both the strength of our team and the proven performance of our strategy, particularly through complex market cycles.”
Stuckey emphasized the firm’s ability to navigate volatility by steering clear of structurally challenged sectors and investing with discipline, leading to strong recommitments from existing investors and significant participation from new ones.
