The Carlyle Group (NASDAQ: CG) has raised its second middle-market buyout fund, Carlyle Equity Opportunity Fund II (CEOF II). The fund is valued at $2.4 billion, which is more than twice as much as Carlyle’s first middle-market fund that was launched in 2012 for $1.1 billion.

“The strong opportunities we see should enable us to build on Carlyle’s heritage in the middle-market space, as demonstrated by the 20 investments we have made since 2011,” says Carlyle managing director Rodney Cohen. CEOF II will invest between $20 million to $200 million per deal.

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