Thursday, January 10, 2013

Carousel Capital closes $265 million fund

Charlotte private equity firm Carousel Capital announced Thursday that it has closed its fourth fund after raising $265.5 million.

It marks the firms largest fund. Carousel closed its third buyout fund, totaling $210 million, in 2007.

The money from the fourth fund will be used to continue the firm's strategy: purchasing companies headquartered across the Southeast, focusing on business services, consumer products and services and healthcare.

Managing Partner Bill Hobbs said in a statement that Carousel has already committed 20 percent of the fund in two investments. One of those, in the Express Oil Change & Service Center chain, was announced Wednesday.