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.
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The company expects to make investments that do not fit within the mandate of its sixth main buyout fund, which raised $13 billion last year, Bloomberg said, citing people familiar with the matter. (http://bloom.bg/1xSTSwd)
The 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.