US investment giant Carlyle Group has cut the fundraising target for its latest pan-Asia buyout fund by at least 30% from its original USD8.5bn, Reuters reported, quoting sources familiar with the matter. The move comes as investors’ appetite waned due to a slowing global economy and geopolitical tensions. Carlyle did not disclose the reason for the cut, but the firm has raised less than USD3bn of the USD6bn in total that Carlyle is now targeting, the report added. The company is aiming for a final close of the fundraising in the third quarter next year. In Asia, Carlyle manages five Asia buyout funds, totaling USD15.55bn, and two China funds. In 2018, the firm raised USD6.6bn for its Asia private equity fund, its biggest at that time, exceeding a USD5bn target.