US buyout firm The Carlyle Group has raised $3.6 billion for its first long-dated private equity fund, joining the ranks of buyout giants including CVC Capital Partners and Blackstone Group in raising a fund that can own companies for longer.

Carlyle announced on 19 October that it had closed its first long-dated private equity fund, Carlyle Global Partners, which will have a 15-year lifespan instead of a typical 10 years.