– Carlyle AlpInvest closed its second Collateralized Fund Obligation (CFO) offering, totaling $1.25 billion
– Largest publicly rated GP-led CFO to date and third securitization transaction for Carlyle AlpInvest
– Builds on October 2024’s $1 billion CFO, bringing total aggregate issuance to $2.25 billion
– Designed to provide structured access to diversified private equity exposure across strategies, geographies, and vintages
– Underlying portfolio includes secondaries, portfolio finance, and co-investment strategies
– Broad investor participation from insurance companies, asset managers, banks, and family offices
– Michael Hacker, Partner and Global Head of Portfolio Finance, Carlyle AlpInvest: “This CFO transaction is another milestone for Carlyle AlpInvest that showcases the convergence of our core capabilities: our ability to originate compelling private market portfolios through our secondaries and portfolio finance platform, and our expertise in providing structured solutions that can also meet growing demand for capital-efficient exposure to private markets.”
– Matthew Romanczuk, Managing Director, Carlyle AlpInvest: “The reception to the CFO validates our thesis that certain institutional investors increasingly value structured exposure to diversified private equity portfolios with high-quality underwriting, operational transparency, and attractive risk-adjusted return potential.”
– Carlyle AlpInvest recently raised $4+ billion for its Portfolio Finance platform, including $3.2 billion for ASPF II (with SMAs and co-investments)
– Deal advisors: Evercore (lead bookrunner, lead structuring agent, joint placement agent), TCG Securities and Wells Fargo Securities (co-structuring agents, joint placement agents, co-managers), Ropes & Gray LLP (legal advisor)
