Carlyle Group is seeking to raise $950 million for a private equity fund dedicated to South America, Bloomberg reports. The firm has already acquired about $730 million from institutional investors. State-controlled lender, Banco do Brasil, may commit about $220 million to the fund. The fund will target investments in Brazil. Carlyle, which started marketing its South America fund in 2009, had initially set a target of raising $500 million.

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