Carlyle Group, the US alternative asset powerhouse, is struggling to reach a self-imposed $300m (€231m) target for its Russian fund 15 months after launching it, according to an investor in the region.

The struggle highlights the potential for difficulties when buy-out firms diversify into new regions or disciplines. Carlyle's other buy-out funds have raised almost $10bn without trouble.

Nicholas Lockley

Carlyle Group

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Carlyle runs into Russian fund trouble

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