Kailai Group raises $1.5 billion for a new investment fund to continue expanding its credit business footprint

According to Bloomberg, Carlyle Group raised $1.5 billion in the first round of fundraising for its newly established asset-backed investment fund, as the private equity giant continues to expand its credit business.

Pension funds, sovereign wealth funds, and other institutional investors participated in the fund—Carlyle Asset-Backed Income Fund. Unlike most fixed-term credit funds, this fund will adopt a "perpetual" structure with no set expiration date. The individual requested anonymity due to the sensitive nature of the information.