Carlyle Fund

THE Carlyle Group, which is developing an office complex at Tanfield, Edinburgh, has closed its third European real estate fund, Carlyle Europe Real Estate Partners III (CEREP III) at €2.2 billion. The fund was raised against an initial target of €1.5 billion, underlining ongoing strong demand for pan-European real estate investment vehicles, and has already committed €715 million to 10 assets.