In one of the toughest times for private equity fundraising, some are still managing to raise cash.

Carlyle Group said it raised $13.7 billion for its fifth U.S. buyout fund. The original target was $15 billion.

“We’re very pleased with this fund size and we feel it indicates the confidence our investors have in our ability to do good deals, ” Carlyle spokesman Chris Ullman said.

Washington, D.C.-based Carlyle launched the U.S. buyout fund in the spring of 2007. Funds typically have several “closes” before a “final close” where it is no longer open to new investors.

A source told Reuters in November that it raised nearly $14 billion, but hadn’t at that point closed. The fund officially closed for new investors on Dec. 31.

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