Global private investment firm The Carlyle Group has reportedly reached a first close on its second Brazilian buyout fund with BRL375 million (approximately US$170 million) in capital commitments. Investors in the fund, which has a BRL1 billion (approximately US$452 million) target, include Banco do Brasil and Brazilian pension funds. Carlyle raised BRL360 million (approximately US$225 million) in 2011 for its first fund targeting local Brazilian institutional investors and secured an additional US$776 million for its parallel, USD-denominated South American Buyout Fund, aimed at international investors.