Carlyle weighing US real estate expansion, says co-founder

New York

CARLYLE Group LP, the world's second-biggest manager of alternatives to stocks and bonds, may add a real estate offering targeting about 10 per cent returns, co-founder David Rubenstein said.

Carlyle is evaluating whether clients would be receptive to a so-called core-plus strategy in real estate, Mr Rubenstein said at Morgan Stanley's financials conference on Tuesday in New York.

"We are looking seriously at the core-plus business," said Mr Rubenstein, Carlyle's co-chief executive officer. "Core-plus is likely to be a very great growth business in real estate, critically in the United States. Nine to…