Washington, DC – Monday, August 4, 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced the final close of its tenth U.S. opportunistic real estate fund, Carlyle Realty Partners X (CRP X), with $9 billion of total commitments. The fund follows Carlyle Realty Partners IX (CRP IX), for which the firm raised $8 billion in 2021. This result reflects continued support for Carlyle’s longstanding U.S. Real Estate strategy and experienced investment team.
CRP X continues to focus on sectors underpinned by secular demographic and technological tailwinds and attractive supply-demand dynamics, including residential, self-storage, and industrial. CRP X is expected to have no exposure to office, hotel, or retail, sectors which the team has strategically avoided in prior recent vintages.
“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 since 1998. “This capital raise reflects both the strength of our team and the proven performance of our strategy, particularly through complex market cycles. Our ability to avoid structurally challenged areas and invest with discipline in a turbulent environment reinforces the value of our distinctive approach to fund construction and has led to meaningful recommitment from existing investors as well as strong support from new relationships. This is a compelling moment to invest, as we see improving fundamentals across our target sectors coupled with an environment of relatively constrained liquidity.”
Carlyle U.S. Real Estate is comprised of over 140 professionals, including a senior team with an average tenure of 20 years. CRP X is poised to benefit from the continuity of senior leadership, depth and experience of its investment professionals, and the team’s presence in key target markets.
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on LinkedIn and X @OneCarlyle.
Media Contact:
Brittany Bensaull
(212) 813-4839
brittany.bensaull@carlyle.com
