US private equity fund Carlyle Group is planning an aggressive push into the Middle East with a dedicated fund of up to $1 billion, accordin...

US private equity fund Carlyle Group is planning an aggressive push into the Middle East with a dedicated fund of up to $1 billion, according to a report in the Financial Times. The firm is also looking to recruit a senior fund manager to lead the expansion - the first of its kind in the region. According to the report, Carlyle will launch a hybrid private equity fund allowing it to put money into traded Middle Eastern securities. The fund is expected to focus on investments in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The fund is also thought to be poised to take advantage of the sharp correction of the region's equity markets in February, which saw valuations fall dramatically. Other private equity groups such as Blackstone, Kohlberg Kravis Roberts and Texas Pacific Group, are also thought to be considering expanding in the Middle East and will be studying Carlyle’s move with interest.