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Monday, November 24, 2014

Carlyle seeking $5 billion for fund with longer life - Bloomberg, (NASDAQ: CG)

Private equity firm Carlyle Group LP is looking to raise about $5 billion for a fund that can hold stakes in companies for as long as 20 years, Bloomberg reported. The company expects to make investments that do not fit within the mandate of its sixth main takeover fund, which raised $13 billion last year, Bloomberg said, citing people familiar with the matter. ( fund would charge lower fees than its traditional buyout offering and the investments could include taking minority stakes in companies and backing family-owned businesses, Bloomberg said.Carlyle plans to charge a 1 percent management fee and take 15 percent of the profits on the longer-life fund, according to the people.Carlyle was not immediately available for comment.

Shares of CG traded higher by 2.05% or $0.6/share to $29.80. In the past year, the shares have traded as low as $26.34 and as high as $39.38. On average, 428866 shares of CG exchange hands on a given day and today's volume is recorded at 777769.