The Carlyle Group, has raised $1.38 billion for the Carlyle Energy Mezzanine Opportunities Fund, which will invest $20 million to $150 million into each transaction in renewable energy and power generation, as well as upstream, midstream and downstream oil and gas projects, the firm said. Carlyle launched the fund in 2010 and already has committed about 20 percent of it in six investments.
Carlyle’s Managing Director, David Albert, said that there is a gap in the market for energy projects that are too small to access the capital markets, but that also have trouble obtaining loans as banks face increased regulation and the need to hold more capital.