Former Time Inc. honcho Norm Pearlstine has reeled in his first big global prey for his buyout bosses at Carlyle Group – a $2.9 billion deal for Australia’s fourth-largest media company.

Carlyle teamed with Providence Equity Partners to help bankroll the private buyout of APN News & Media for colorful Irish media magnate Sir Tony O’Reilly of Independent News & Media, one of APN’s major shareholders.

After taking APN private, O’Reilly will own 41.6 percent, Providence 37.5 percent and Carlyle, 27.5 percent.

Pearlstine joined Carlyle to help find media acquisitions to expand its already large portfolio of 130 media properties.