JSM Financial: The Carlyle Group raises over $1 billion for its first financial services fund.

April 6, 2010 - PRLog -- JSM Financial sources report that The Carlyle Group has succeeded in raising $1.1 billion for its first financial services fund, Carlyle Global Financial Services Partners (CGFSP), a fund focused on buying into mid-market and regional companies such as banks and insurance firms, asset management companies and financial service providers needing additional capital.

The private equity firm recently announced that it had already made three investments which make up 30% of the fund, into the Bermuda based bank N.T. Butterfield & Son Limited, Florida bank BankUnited and the Boston based asset management firm Boston Private Financial Holdings Inc.

In a press release available to JSM Financial, Olivier Sarkozy, the managing director and head of the financial services team said that the fund has focused on investing where it can add the most value.

David Rubenstein, one of the firm’s co-founders meanwhile said, “Olivier and his team have made three promising investments already, which, for a first-time fund, demonstrated to investors along the way that we had assembled a talented group at the right time to capitalise on a range of opportunities in the financial services space.”

In another announcement, JSM Financial was told the Carlyle Group said it had appointed Eric Kump, previously of Dubai International Capital, as Managing Director of leveraged Buyouts at Carlyle Europe Partners.

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