Investment firm the Carlyle Group (Nasdaq: CG) has closed a 656 million (U.S. $716 million) fund that focuses on technology-enabled businesses.
The new fund, Carlyle Europe Technology Partners II, began fundraising in May 2014. The fund's investors are mainly based in Europe and the U.S.
Carlyle Europe Technology will invest in European telecommunications, media and technology companies. The new fund has already made two investments Expereo, a networks operator based in the Netherlands, and Telvent Global Services, an information technology infrastructure management company based in Spain.
Carlyle's first European technology fund invested in the Foundry, a visual effects business, human resources software Personal & Informatik, and UC4, a provider of data center automation services.
Washington, D.C.-based Carlyle's other moves recently include closing a $610 million collateralized loan obligation fund, earlier in May, and investing in a Brazilian hospital operator in April. The firm is led by co-CEOs David Rubenstein (pictured) and William Conway.
Private equity firms have been interested in technology investments for a while. In April, Thoma Bravo closed a $1.065 billion fund so that it could compete for technology investments at the upper end of the software market. For more on PE interest in software and technology, see Thoma Bravo & Others Bet Big on the Cloud.