Marine Cole
The clawback, related to Carlyle Asia Partners II, nearly doubles the amount Carlyle has paid in total such obligations since 1987.
The mid-market firm closed its predecessor fund, Wellspring Capital Partners V, on $1.2 billion in 2010.
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The firm’s shares opened and closed above the $16 per unit price set on Tuesday.
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The asset class’s performance improved in 2016 from the previous year, when it posted a 10% net return.
It reached new records in terms of funds raised and money invested that were not seen since the dot-com era.
The mid-market financial services specialist has raised nearly $900m.
The OCIO firm also hired a new director in its portfolio management group to head the new office.
The IPO market could see a revival in 2017.
The new vehicle is nearly double the size of its predecessor fund.
The fund is already more than half deployed and includes minority investments in such firms as Vista Equity Partners and KPS Capital Partners.