Private Equity Firm Financial Services

Carlyle AlpInvest

New York, New York, United States

Global private equity investor with an integrated approach to private markets through primary, secondary, portfolio finance, and co-investment opportunities as part of The Carlyle Group.

Focus Areas
Private equity, Secondaries, Primaries

Tracked deals

11

11 tracked deals across 2020-2026.

Recent pace

4

4 tracked deals announced in the last 12 months.

Deal mix

Recapitalization

6 recapitalization · 2 divestiture · 2 growth capital

Carlyle AlpInvest Acquisition Volume by Year

Last 6 years

Acquisition volume by year Annual acquisition counts for the last 6 years for Carlyle AlpInvest. 1 2020 1 2022 1 2023 1 2024 3 2025 ~5 est. 4 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Littlejohn & Co. (Littlejohn), Carlyle AlpInvest
    Target
    Valcourt Group (Valcourt)

    Littlejohn & Co. closed a continuation vehicle anchored by Valcourt Group, providing liquidity to existing fund investors while enabling Littlejohn to keep supporting Valcourt’s next phase of growth. Carlyle AlpInvest led the transaction, with participation from additional blue-chip institutional investors; financial terms were not disclosed.

  • Buyer
    Charlesbank Capital Partners, Carlyle AlpInvest
    Target
    Bridgepointe Technologies
    Industry
    IT Services

    Bridgepointe Technologies, a technology advisory and enablement services platform, announced a strategic growth investment led by Charlesbank Capital Partners with Carlyle AlpInvest investing alongside. The transaction values Bridgepointe at over $1 billion and provides capital to accelerate growth, pursue strategic acquisitions, and invest in technology, data capabilities, and its go-to-market organization.

  • Buyer
    TowerBrook Capital Partners, Carlyle AlpInvest, Hamilton Lane
    Target
    Eisner Advisory Group LLC (EisnerAmper)

    TowerBrook Capital Partners completed a continuation vehicle transaction for Eisner Advisory Group (EisnerAmper), allowing TowerBrook to retain ownership while providing liquidity to existing investors and partners. Carlyle AlpInvest led the transaction, with Hamilton Lane as co-lead, and additional syndicate investors participating.

  • Buyer
    Lovell Minnick Partners, Carlyle AlpInvest
    Target
    SRS Acquiom

    Lovell Minnick Partners closed a single-asset continuation vehicle for SRS Acquiom in a transaction led by Carlyle AlpInvest, providing fresh capital and a refreshed ownership structure while keeping existing and new investors and management as shareholders. The recapitalization is intended to support SRS Acquiom's next phase of growth — including international expansion across the U.K. and Europe, a push on strategic acquisitions, and further investment in tech-enabled solutions.

  • Buyer
    ECI Partners continuation fund (ECI-managed continuation vehicle), Carlyle AlpInvest, HarbourVest Partners, Pantheon
    Target
    CSL Group
    Seller
    ECI Partners
    Location
    United Kingdom

    ECI Partners has exited CSL, the UK-based critical IoT connectivity specialist, into an ECI-managed continuation fund led by existing ECI investors Carlyle AlpInvest, HarbourVest Partners and Pantheon, generating a 3.5x return on ECI’s investment. CSL grew c.20% organically during ECI’s ownership, has launched products such as rSIM, and will continue its expansion strategy (including M&A) under the continuation vehicle.

  • Buyer
    Norvestor SPV III SCSp, Norvestor IX SCSp, Carlyle AlpInvest, Ardian, HarbourVest Partners, Lexington Partners
    Target
    PHM Group Oy, Sperre Air Power AS
    Seller
    Norvestor VIII SCSp, Norvestor SPV II SCSp
    Industry
    Real Estate
    Location
    Uusimaa, Finland

    Norvestor created a continuation vehicle (Norvestor SPV III), supported by commitments from Norvestor IX and a syndicate of institutional investors, to acquire PHM Group Oy and Sperre Air Power AS from earlier Norvestor funds (Norvestor VIII and Norvestor SPV II). The transaction provides liquidity/options to existing investors while preserving follow-on capital and strategic support for the two companies’ growth and M&A agendas.

  • Buyer
    Hidden Harbor Capital Partners, Carlyle AlpInvest
    Target
    Dayco, SuperHero Fire Protection, Air Conditioning Specialist, Inc., Inspire Aesthetics
    Seller
    Existing limited partners (LPs)
    Location
    United States

    Hidden Harbor Capital Partners and Carlyle AlpInvest closed a continuation fund with more than $850 million of commitments to acquire interests in four Hidden Harbor portfolio companies: Dayco, SuperHero Fire Protection, Air Conditioning Specialist (ACS) and Inspire Aesthetics. The transaction provides liquidity to existing limited partners while supplying new capital to support growth initiatives across the portfolio.

  • Buyer
    TJC LP Continuation Fund (Resolute Continuation Fund), AlpInvest (a subsidiary of Carlyle)
    Target
    Five portfolio companies (assets from Resolute III and a portfolio company jointly owned with Resolute IV) [unnamed]
    Seller
    The Resolute Fund III, L.P. (Resolute III), The Resolute Fund IV, L.P. (Resolute IV)
    Location
    United States

    TJC LP closed a $2.1 billion continuation fund that purchased five portfolio companies, including assets from The Resolute Fund III and one asset jointly owned with Resolute IV. The transaction was led by AlpInvest (a Carlyle subsidiary) and gives TJC and its portfolio companies additional capital and time to pursue growth while offering liquidity options to Resolute III and Resolute IV limited partners.

  • Buyer
    GHO Capital Partners LLP, Partners Group, AlpInvest Partners (funds managed by AlpInvest), Pantheon
    Target
    Sterling Pharma Solutions
    Industry
    Pharmaceuticals
    Location
    United Kingdom

    GHO Capital (majority owner) and Partners Group have completed an investment into GHO portfolio company Sterling Pharma Solutions, with Partners Group acquiring a significant minority stake. The transaction is supported by a consortium led by funds managed by AlpInvest Partners and Pantheon and will fund Sterling's expansion of production capacity, capability build-out and further strategic acquisitions across the UK, Europe and the US.

  • Buyer
    Astorg (IQ-EQ Continuation Fund), AlpInvest, Goldman Sachs Asset Management (Vintage Funds), IQ-EQ leadership team (management co-investors)
    Target
    IQ-EQ
    Seller
    Astorg V (Fund V) / existing Fund V limited partners
    Location
    Luxembourg

    Astorg formed a €1.3bn continuation fund, backed by AlpInvest, Goldman Sachs Asset Management (Vintage Funds) and other limited partners, to acquire IQ-EQ—the last remaining asset in Astorg V. The continuation fund includes significant equity contributions from the IQ-EQ leadership team and will provide capital to support IQ-EQ's organic growth initiatives and future acquisitions.

  • Buyer
    Symphony Technology Group (STG), Ontario Teachers' Pension Plan Board (Ontario Teachers'), AlpInvest Partners (AlpInvest)
    Target
    RSA
    Seller
    Dell Technologies
    Industry
    Cybersecurity
    Type
    Buyout

    A consortium led by Symphony Technology Group (STG) with Ontario Teachers' Pension Plan and AlpInvest Partners has acquired RSA from Dell Technologies in an all-cash transaction valued at about $2.075 billion. The deal transfers RSA — a provider of integrated risk management, identity and access management, threat detection, and fraud prevention solutions — to the investors so it can operate as an independent company and accelerate product and SaaS-focused growth.

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