The Carlyle Group Inc.
12/11/2024 | Press release | Distributed by Public on 12/11/2024 06:30
AlpInvest and Mubadala Establish New Portfolio Senior Fund Financing Partnership
The strategic partnership will exclusively focus on Portfolio Senior Fund Financing to private equity funds, supporting growing demand for liquidity and capital solutions within private markets
New York, NY/Abu Dhabi, UAE - December 11, 2024 - AlpInvest Partners, a leading global private equity investor and subsidiary of Carlyle (NASDAQ: CG), and Mubadala Investment Company ("Mubadala"), a global sovereign investor, today announced the establishment of a new credit co-investment partnership to provide portfolio senior fund financing on a global basis.
The strategic partnership, which builds on Mubadala and Carlyle's long-standing relationship, represents a key advancement in AlpInvest's portfolio finance strategy, which launched in 2018. Since then, AlpInvest has spearheaded approximately $4 billion in portfolio fund financing transactions, establishing itself as an early leader in the sector. The new partnership will expand AlpInvest's ability to deliver efficient support to private equity managers, seeking to drive value in their funds. For Mubadala, expanding its credit investment strategy into senior loans against the value of fund portfolios is an extension into a fast-growing private debt segment that complements its existing co-investment partnerships in direct lending, credit secondaries, real estate debt, infrastructure and technology financing.
Fabrizio Bocciardi, Head of Credit Investments at Mubadala said: "We are pleased to expand our longstanding relationship with Carlyle through this new strategic partnership which will invest into portfolio senior fund financing, building on AlpInvest's sector expertise to address this growing market."
The partnership has already completed its first investment.
"This new partnership with Mubadala aligns with AlpInvest's vision of creating transformative financing support for private equity funds as they continue to drive value for their limited partners," added Michael Hacker, Global Head of Portfolio Finance at AlpInvest. "This is a key milestone for our Secondaries and Portfolio Finance platform and an exciting step forward in expanding our reach and capacity to meet the evolving needs of our partners within the private equity community."
AlpInvest and Mubadala are strongly committed to pursuing carefully constructed portfolio senior fund financings that support long-term value optimization for the funds to which they are lenders and have fully endorsed recent guidelines published by the Institutional Limited Partners Association (ILPA).
About AlpInvest Partners
AlpInvest, a subsidiary of Carlyle (NASDAQ: CG), is a leading global private equity investor with $80+ billion of assets under management and more than 500 investors as of June 30, 2024. It has invested with over 360 private equity managers and committed approximately $100 billion across primary commitments to private equity funds, secondary transactions, portfolio financings and co-investments. AlpInvest employs more than 230 people in New York, Amsterdam, Hong Kong, London, and Singapore. For more information, please visit www.alpinvest.com.
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala's $302 billion portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
For more information about Mubadala Investment Company, please visit: www.mubadala.com
Media Contacts:
For AlpInvest:
Brittany Berliner
+1 (212) 813-4839
OR
Isabelle Jeffrey
+1 (212) 332-6394
For Mubadala Investment Company:
Salam Kitmitto
+971 50 276 9286
[email protected]