The Carlyle Group has raised the second-largest private equity fund for Peru by an international manager. The South American country has been identified as one of the top four high-growth markets for the buyout industry.

The US private equity fund said yesterday it has raised $308m for the Carlyle Peru Fund. Marco Peschiera, principal and head of Carlyle's Peru team, told Financial News: "We have a multi-sector investment strategy that is linked to local consumption which is the engine of growth in Peru."