AlpInvest Raises $4 Billion for Portfolio Finance
Funding | Apr 07, 2025 | The Carlyle Group
AlpInvest Partners, a global private equity investor and subsidiary of The Carlyle Group, has raised $3.2 billion for its AlpInvest Strategic Portfolio Finance Fund II (ASPF II). This figure, which includes parallel SMAs and co-investments, exceeded its initial target and more than tripled the size of the prior program, ASPF I. With simultaneous closings of multiple Senior Portfolio Lending mandates and co-investments, the total new capital raised for AlpInvest's Portfolio Finance platform exceeds $4 billion. ASPF II focuses on providing financing solutions to private equity funds, GPs, and LPs. It follows a private credit approach that emphasizes downside risk mitigation while providing cash yield and optimized duration through diversified and overcollateralized investments. Backed by a spectrum of institutional investors, ASPF II benefits from AlpInvest's leadership in the global secondaries market, with support from its integrated Platform. The fund has already executed ten transactions and received strong investor demand, highlighting the perceived value of AlpInvest's solutions. The platform's capacity has been commended by leading figures in AlpInvest, citing the strategic integration of portfolio finance within the broader secondaries market.
Sectors
- Private Equity
- Financial Services
Geography
- United States – AlpInvest Partners is heavily based in the U.S., with its main office in New York, contributing to the Americas' involvement in the fundraising.
- United Kingdom – The article mentions London, alluding to the significant European presence and participation in AlpInvest's operations.
- Global – The article refers to global investors and transactions executed by AlpInvest, aligning with their global outreach.
Industry
- Private Equity – The article discusses activities related to AlpInvest Partners, a leading global private equity investor, highlighting its fund-raising efforts.
- Financial Services – The article details the financial strategies and solutions offered by AlpInvest Partners through their Portfolio Finance platform.
Financials
- $3.2 billion – Amount raised for AlpInvest Strategic Portfolio Finance Fund II (ASPF II), exceeding initial targets and prior program sizes.
- $4 billion – Total capital raised for AlpInvest's overall Portfolio Finance platform.
- $85+ billion – Assets under management by AlpInvest as of December 31, 2024.
- $100 billion – Amount committed by AlpInvest across various private equity-related transactions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AlpInvest Partners | Target | Company | A global private equity investor and subsidiary of The Carlyle Group, specializing in secondaries and co-investments. |
| The Carlyle Group | Parent Company | Company | A global investment firm providing financial backing and support to AlpInvest Partners. |
| Institutional Investors | Investors | Companies/Entities | Includes insurance companies, sovereign wealth funds, pensions, corporations, and family offices backing the fund. |
| Michael Hacker | Spokesperson | Person | Global Head of Portfolio Finance at AlpInvest. |
| Ruulke Bagijn | Spokesperson | Person | Head of Carlyle AlpInvest. |
| Chris Perriello | Spokesperson | Person | Global Head of Secondaries at AlpInvest. |
| Norwest Mezzanine Partners | Subject of Transaction | Company | Involved in a Credit Secondaries spinout transaction executed by ASPF II. |