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The Carlyle Group in talks with Italian bank to raise E1bn fund07/02/2003. Source: AltAssets. 
 US-based private equity firm The Carlyle Group is understood to be in talks with Italian investment bank Mediobanco, over the possibility of raising a E1bn private equity fund.
The news follows an announcement by Mediobanco that it planned to expand its private equity interests significantly.
‘We intend to set up an independent fund, possibly in conjunction with a leading foreign fund manager, which will focus on MBOs of large to mid-size corporates,' Mediobanco said last year, according to the Financial Times.
Carlyle and Mediobanco have been in talks since last year, but the talks are believed to have stalled over regulatory problems: The Bank of Italy must approve Mediobanco's participation in the fundraising.
Should the deal go ahead, it will be the first time a private equity firm has raised such a fund from a single institution.
Carlyle has been particularly active in Europe of late. The firm participated in the buy-out of Dutch cable business Casema at the beginning of January 2003, and has strengthened both its venture and its leveraged finance teams in the region in recent weeks.
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