Global alternative asset manager The Carlyle Group has reached a final close on its Carlyle Sub-Saharan Africa Fund (CSSAF) with US$698 million in capital commitments, surpassing its initial target of US$500 million. CSSAF will focus on investment opportunities linked to the growth of the emerging middle class across Sub-Saharan Africa, in sectors that include consumer, logistics, financial services and telecommunications. To date, the fund has invested in Tanzania-based supply chain manager Export Trading Group and in Mozambique-based logistics business J&J Africa.