Travers Smith Advises on Carlyle's CAPS Fund Launch
Deal News | Jul 16, 2025 | Travers Smith LLP
Travers Smith LLP has advised Carlyle on the launch of Carlyle AlpInvest Private Markets Secondaries (CAPS). As the second fund under the Carlyle AlpInvest platform targeting private wealth clients, CAPS has been launched with the collaboration of UBS's Unified Global Alternatives business. The fund will primarily focus on secondary investments in leveraged buyout, growth capital, and special opportunity fund interests. The legal advisory team was headed by Will Normand, a Funds Partner at Travers Smith, with additional tax support from the firm's associates. The CAPS fund epitomizes a strategic effort in asset management to attract capital from private wealth channels, signifying important sectoral dynamics within private equity investments.
Sectors
- Private Equity
- Investment Management
- Legal Advisory
Geography
- United Kingdom – Travers Smith LLP, the article's primary subject as the advisory firm, is based in the UK, indicating the geographical context of the legal advisory service.
- United States – Carlyle, a major player in this article and a global investment firm, is headquartered in the US, indicating its involvement in the fund launch.
Industry
- Private Equity – The article discusses the launch of a private equity secondary fund, Carlyle AlpInvest Private Markets Secondaries, highlighting activities relevant to the private equity sector.
- Investment Management – The article involves a fund launch, a common activity in investment management, involving structuring and distribution strategies targeting private wealth.
- Legal Advisory – Travers Smith LLP is a legal advisory firm involved in advising on the fund launch, highlighting the intersection of legal services and financial investment activities.
Financials
- Not disclosed – The size or financial details of the CAPS fund were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Travers Smith LLP | Legal Advisor | Company | A British law firm that provided legal advisory services for the launch of the CAPS fund. |
| Carlyle Group | Fund Manager | Company | An American multinational private equity, alternative asset management, and financial services corporation involved in launching the CAPS fund. |
| UBS | Collaborator | Company | A Swiss multinational investment bank and financial services company, collaborating with Carlyle for the fund launch. |
| Will Normand | Funds Partner and Head of Asset Management | Person | Led the advisory team from Travers Smith assisting in the fund's launch. |