AlpInvest Closes $1 Billion CFO in Landmark Deal
Deal News | Oct 31, 2024 | Ropes & Gray
AlpInvest, a leading private equity platform and subsidiary of Carlyle, completed the closing of a $1 billion Collateralized Fund Obligation (CFO), marking the largest publicly rated GP-led CFO to date. The transaction, announced on October 30, 2023, includes exposure to four funds managed by AlpInvest, focusing on its key strategies namely Private Equity Secondaries, Portfolio Finance, and Co-Investments. The CFO also integrates two secondary transactions recently executed by AlpInvest with diversified portfolios of LP interests. Legal advisory for the complex transaction was provided by Ropes & Gray, with a team comprised of finance, asset management, and tax partners, ensuring comprehensive support throughout the process.
Sectors
- Private Equity
- Financial Services
Geography
- United States – Ropes & Gray, the advisory firm, is headquartered in the United States, and the announcement was made there.
Industry
- Private Equity – The article discusses a significant transaction involving AlpInvest, which is a prominent entity in the private equity sector.
- Financial Services – The transaction involves a Collateralized Fund Obligation, a complex financial structure, and financial advisory services provided by Ropes & Gray.
Financials
- $1 billion – The total value of the Collateralized Fund Obligation closed by AlpInvest.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AlpInvest | Target | Company | A market-leading private equity platform and subsidiary of Carlyle. |
| Ropes & Gray | Legal Advisor | Company | Provided legal advisory services for AlpInvest's CFO transaction. |
| Carlyle | Parent Company | Company | The parent company of AlpInvest. |
| Dan Coyne | Finance Partner | Person | Finance partner at Ropes & Gray involved in the transaction. |
| Patricia Lynch | Finance Partner | Person | Finance partner at Ropes & Gray involved in the transaction. |
| Lindsey Goldstein | Asset Management Partner | Person | Asset management partner at Ropes & Gray. |
| Marc Biamonte | Asset Management Partner | Person | Asset management partner at Ropes & Gray. |
| Nicole Krea | Asset Management Partner | Person | Asset management partner at Ropes & Gray. |
| Adam Greenwood | Tax Partner | Person | Tax partner at Ropes & Gray. |