David Rubenstein

Carlyle Group, the private-equity firm run by David Rubenstein, agreed to acquire Booz Allen Hamilton Inc.'s U.S. government-consulting business for $2.54 billion, its biggest buyout since the credit markets collapsed in July.

Carlyle Group, the world's second- biggest private-equity firm, plans to raise as much as $4 billion to invest in Asian companies as the credit freeze stalls U.S. and European leveraged buyouts, according to two people with knowledge of the matter.

The Carlyle Group has raised more than $130 million for an investment fund focused south of the U.S. border.

The D.C.-based private equity firm says its new fund, Carlyle Mexico Partners, has raised $134 million to commit to companies primarily in Carlyle's seven areas of expertise, such as the aerospace, defense, energy, health care, technology, telecommunications and media.

Carlyle Mexico Partners currently has five investment professionals based in Mexico City.