Carlyle AlpInvest Closes $1.25 Billion CFO, Largest Yet
Deal News | Aug 07, 2025 | The Carlyle Group
Carlyle AlpInvest, a prominent global private equity firm, has announced the completion of its second Collateralized Fund Obligation (CFO) offering, amassing $1.25 billion, the largest GP-led CFO so far. This marks Carlyle AlpInvest's third securitization transaction and reflects sustained demand among institutional investors for structured private equity exposure. With a cumulative $2.25 billion issuance over the year, Carlyle AlpInvest is scaling its capabilities in portfolio finance to cater to the burgeoning appetite for innovative financial solutions. This CFO continues to provide diversified investment access across Carlyle AlpInvest's strategies. Evercore, TCG Securities, Wells Fargo Securities, and Ropes & Gray acted as advisors and agents for this transaction. The firm, managing $97 billion in assets, signals its growth and robust portfolio financing potential.
Sectors
- Private Equity
- Financial Services
Geography
- United States – Carlyle AlpInvest and several key participants such as Evercore and Wells Fargo Securities are based in the U.S.
- Global – The firm has a global presence with offices in New York, Amsterdam, Hong Kong, London, and Singapore and serves a broad global investor base.
Industry
- Private Equity – The article involves Carlyle AlpInvest, a leading private equity firm, and their second CFO offering.
- Financial Services – The transaction relates to complex financial instruments (CFOs) and structured finance solutions targeted at institutional investors.
Financials
- $1.25 billion – The size of Carlyle AlpInvest's latest CFO offering.
- $4 billion – Funds recently raised by Carlyle AlpInvest for its Portfolio Finance platform.
- $3.2 billion – Amount raised specifically for AlpInvest Strategic Portfolio Finance Fund II (ASPF II).
- $97 billion – Carlyle AlpInvest’s assets under management.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Carlyle AlpInvest | Issuer of the CFO | Company | A leading global private equity investor with $97 billion under management. |
| Evercore | Lead Bookrunner, Lead Structuring Agent, Joint Placement Agent | Company | An investment banking advisory firm. |
| TCG Securities | Co-Structuring Agent, Joint Placement Agent and Co-Manager | Company | A financial services firm related to the Carlyle Group. |
| Wells Fargo Securities, LLC | Co-Structuring Agent, Joint Placement Agent and Co-Manager | Company | A major American financial services company. |
| Ropes & Gray LLP | Legal Advisor to Carlyle AlpInvest | Company | An international law firm. |
| Michael Hacker | Partner and Global Head of Portfolio Finance | Person | A partner at Carlyle AlpInvest focusing on portfolio finance. |
| Matthew Romanczuk | Managing Director | Person | A managing director at Carlyle AlpInvest involved in the CFO offering. |