Carlyle Group, the global alternative asset manager, announced on Monday the final close of Carlyle Asia Partners IV at $3.9 billion, more than 50 percent larger than its predecessor fund CAP III.

Carlyle's Asia buyout funds buy control or significant minority investments in companies across Asia ex-Japan.

"We believe that the regional economy (in Asia) will continue to grow much faster than the rest of the world. Rising middle class and their demand for better products and services are key drivers of these investment opportunities," said XD Yang, managing director of Carlyle Asia and co-head of the Carlyle Asia buyout team.

"With a focus on opportunities in the consumer and retail, financial services, TMT and healthcare sectors," said Yang.

David Rubenstein, co-CEO of Carlyle Group, said: "We are excited about the great opportunities we see throughout Asia and are committed to investing resources, expertise and capital in this critical region of the global economy."

Carlyle Asia Partners IV made its first investment in May in ADT Korea, a prominent security services company. In August, the fund invested in Ganji.com, a top operator of online and mobile-based classifieds in China.

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