The $1 Billion CFO exceeded its initial target of $800M due to strong investor demand, making it the largest publicly rated GP-Led CFO in the market to date
The offering follows AlpInvest’s inaugural securitization offering in 2023
New York, NY, October 29, 2024 – AlpInvest, an integrated market-leading private equity platform and subsidiary of Carlyle (NASDAQ: CG), today announced the closing of a Collateralized Fund Obligation (“AlpInvest CFO” or “CFO”), its second securitization. The $1 billion CFO represents the largest publicly rated GP-Led CFO in the market to date, and will comprise exposure to four AlpInvest-managed funds across its flagship Private Equity Secondaries, Portfolio Finance, and Co-Investment strategies, along with two private equity secondary transactions recently completed by AlpInvest involving diversified portfolios of LP interests.
For over 20 years, AlpInvest has been building private equity portfolios on a global scale by leveraging decades of experience and Carlyle’s vast network. The platform now has $80+ billion in assets under management and serves over 500 LPs.
The underlying portfolio for the AlpInvest CFO was specifically designed to offer investors highly diversified exposure to private equity and credit assets across geographic regions, vintage year, and AlpInvest fund strategies.
“We are pleased to have closed our collateralized fund obligation offering and proud of the strong backing we received from both new and existing investors across the Carlyle and AlpInvest platforms, including insurance companies, other larger institutional investors, and family offices.” said Michael Hacker, Managing Director and Global Head of Portfolio Finance at AlpInvest. “This securitization presents a differentiated opportunity for investors given the diversification characteristics of the underlying portfolio, and innovative structure, which reflect the structing expertise we have built across our Secondaries and Portfolio Finance platforms. We are excited to continue our heritage of delivering customized products to our investors, which are tailored made to meet their objectives.”
Evercore served as the Sole Structuring Advisor and Bookrunner of the offering and Ropes & Gray LLP served as legal advisor to AlpInvest.
About AlpInvest
AlpInvest, a subsidiary of Carlyle (NASDAQ: CG), is a leading global private equity investor with $80+ billion of assets under management and more than 500 investors as of June 30, 2024. It has invested with over 360 private equity managers and committed approximately $100 billion across primary commitments to private equity funds, secondary and portfolio finance transactions and co-investments. AlpInvest employs more than 230 people in New York, Amsterdam, Hong Kong, London, and Singapore. For more information, please visit www.carlyle.com.
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