(Reuters) - Private equity firm Carlyle Group
If successful, the fund would be one of the largest new property funds any firm has raised since the financial crisis, the Journal said.
Rivals Blackstone Group LP
"We believed in the inherent value of the investments we were making despite the noise in the market," Robert Stuckey, head of Carlyle's U.S. real estate group, told the Journal. He declined to discuss the new fundraising.
In June, Crown Acquisitions and real estate investment firm Highgate agreed to buy from Carlyle a 27-story glass and steel office and retail tower at 650 Madison Avenue for about $1.3 billion.
Carlyle, which has about $176 billion in assets under management, could not immediately be reached for comment by Reuters outside of regular U.S. business hours.
(Reporting by Sakthi Prasad in Bangalore; editing by Patrick Graham)