Ardian to raise more than $20bn for the third consecutive year demonstrating resilient fundraising through market cycles as well as global investor interest in Europe.
• Three flagship funds close with increased hard caps, showcasing Ardian’s focus on innovation and European market leadership.
• The private wealth sector plays a pivotal role, with Ardian Access expanding offerings to individual investors and family offices globally.

New York, NY– October 7, 2025 – Carlyle AlpInvest, a leading global private equity investor, and the California State Teachers’ Retirement System (“CalSTRS”), today announced a partnership to broaden access to climate-related co-investment opportunities that demonstrate positive contributions to a more sustainable global economy. This partnership is designed to expand CalSTRS’ ability to invest alongside private equity managers in climate solution opportunities beyond CalSTRS’ direct investment program.

The collaboration brings together Carlyle AlpInvest’s co-investment platform with CalSTRS’ Sustainable Investment and Stewardship Strategies team to invest in opportunities that support both long-term value creation and further CalSTRS’ sustainable investment objectives.

“We are excited to work with CalSTRS’ Sustainable Investment and Stewardship Strategies team to expand access to co-investment solutions with a focus on climate,” said Todd Ruggini, Partner and Managing Director on the Co-Investments Team at Carlyle AlpInvest. “This effort builds on our long-term relationship with CalSTRS as well as our experience sourcing, underwriting, and executing transactions that meet the evolving needs of large investors.”

“Partnering with Carlyle AlpInvest will help add the scale and execution expertise needed to advance our investment objectives,” said Nick Abel, Portfolio Manager of CalSTRS Sustainable Investment and Stewardship Strategies. “This collaboration aligns with our long-term outlook and mission to provide a secure retirement for California’s public educators and their beneficiaries. The collaboration enhances the way we access opportunities to further position CalSTRS as a global partner of choice and supports our commitment to delivering financial results alongside positive sustainability outcomes.”

The initiative will seek to identify climate-related opportunities that demonstrate positive sustainability outcomes across a range of themes. The approach is rooted in a flexible, intent-based framework designed to reflect a wide spectrum of global opportunities.

“Carlyle AlpInvest is focused on building partnerships with investors that deliver long-term value and supporting their sustainable investment objectives,” said Maaike van der Schoot, Head of Responsible Investment at Carlyle AlpInvest. “This effort reflects that focus and builds on our long-standing commitment to responsible investment and helping partners pursue investment strategies that drive positive, strategic outcomes.”

About Carlyle AlpInvest
Carlyle AlpInvest is a leading global private equity investor with $97 billion of assets under management and more than 630 investors as of June 30, 2025. It has invested with over 385 private equity managers and committed over $113 billion across primary commitments to private equity funds, secondary transactions, portfolio financings, and co-investments. Carlyle AlpInvest employs more than 265 people in New York, Amsterdam, Hong Kong, London, and Singapore. For more information, please visit www.carlylealpinvest.com.

About CalSTRS 
CalSTRS provides a secure retirement to more than 1 million members and beneficiaries whose CalSTRS-covered service is not eligible for Social Security participation. On average, members who retired in the 2023–24 fiscal year had 25.2 years of service and a monthly benefit of $5,659. Established in 1913, CalSTRS is the largest educator-only pension fund in the world with $374.3 billion in assets under management as of August 31, 2025. For more information, visit CalSTRS.com.

Media Contacts

For Carlyle AlpInvest: 

Brittany Bensaull

+1 (212) 813-4839

Brittany.Bensaull@carlyle.com

OR

Isabelle Jeffrey

+1 (212) 332-6394

Isabelle.Jeffrey@carlyle.com

For CalSTRS: 

Newsroom@CalSTRS.com

Amsterdam, New York and Zurich — June 26, 2025

Global investment firm Carlyle (NASDAQ: CG) and UBS’s Unified Global Alternatives (UGA) business, today announced their collaboration on an open-ended private equity secondaries initiative for wealth management clients.

The initiative aims to provide institutional-quality secondaries exposure with enhanced liquidity, diversification, and long-term value.

“This collaboration underscores our commitment to expanding access to world-class private market solutions while maintaining the rigor and discipline of our institutional platform,” said Shane Clifford, Global Head of Wealth at Carlyle. “By combining Carlyle AlpInvest’s global secondaries expertise with that of UBS’s Unified Global Alternatives business, our goal is to deliver a compelling solution to investors.”

“The secondaries market has grown and matured over the past two decades, and today we’re seeing one of the most active environments in years—with high-quality portfolios coming to market and a range of sellers seeking flexible solutions,” said Chris Perriello, Global Head of Secondaries at Carlyle AlpInvest. “With a long history of sourcing and executing complex secondary transactions globally, this initiative is a natural way to bring that expertise to a broader set of investors.”

Jerry Pascucci, Co-Head of UGA at UBS, said: “We are proud to innovate with the world’s premier GPs, capitalizing on the scale, breadth, and resources of our leading private markets franchises to serve clients’ investment needs across the spectrum of alternative investment strategies.”

“We are delighted to collaborate with Carlyle AlpInvest, combining our deep experience to deliver private equity secondary market opportunities for clients. With this collaboration, we can also bring together Carlyle’s expertise with UGA’s global network and sourcing relationships to drive a robust deal funnel,” added Johannes Roth, Co-Head of UGA at UBS.

This communication does not constitute an offering of securities in the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act of 1933).  This communication is not, and under no circumstances is to be construed as, a prospectus or advertisement for the public offering of any securities in the United States.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About UBS Unified Global Alternatives (UGA)

UBS’s Unified Global Alternatives (UGA) business brings together our leading alternatives manager selection franchises from Asset Management and Global Wealth Management. With combined invested assets of approximately $295 billion, UGA is one of the leading global alternative LPs. To serve our clients’ alternative investment needs, UGA maintains, manages and curates one of the world’s premier open architecture platforms across hedge funds, private equity, private credit, real estate, infrastructure and multi-alternative investment products. We are also able to provide access to exclusive co-investments and secondary market opportunities for our more sophisticated clients.

Carlyle

Media:

Brittany Berliner
+1 (212) 813-4839
brittany.berliner@carlyle.com

London/Luxembourg, June 18, 2025 – AURELIUS, a global private equity investor with operations in Europe and North America, successfully closed AURELIUS Opportunities V (“Fund V”) following a significantly oversubscribed process that was completed after only five months of marketing. Given high demand, AURELIUS capped the size of Fund V to maintain investment discipline and preserve the exceptional performance record built over the last 20 years. AURELIUS now has a new capital pool of EUR 830m available. It follows in the footsteps of its top-decile EUR 540m 2021 co-investment structure of AURELIUS European Opportunities Fund IV (“Fund IV”) and AUR Portfolio III.

Focused on mid-market investments, Fund V will invest in corporate carve-outs, platform build-ups and complex buy-out situations for companies with annual revenues of at least EUR 100m. It will invest equity of up to EUR 150m to acquire enterprises with potential for operational improvement in Europe and North America.

As with its predecessor, Fund V portfolio companies will be advised by AURELIUS’ operations advisory team, recently named AURELIUS WaterRise, which will seek to create value by implementing the same proven strategy AURELIUS has been utilising for two decades: providing hands-on support and bespoke advice with its more than 180 global specialists.

Following the outstanding success of Fund IV – currently ranked in the top 5% across all industry benchmarks[1] – AURELIUS raised Fund V from more than 90% of its existing investor base and a number of new blue-chip LPs. The investor group includes a wide range of institutional investors, such as prestigious US and European university endowments, pension funds, insurance companies, family offices and charitable foundations.

Fabian Steger, Managing Director Fund IV and Fund V, says: “We are delighted to have seen such strong demand for our new Fund V, especially considering the challenging economic and geopolitical environment we find ourselves in. This is testament to the success of its predecessor fund, and we recognise our responsibility to do all we can to emulate it. We would like to thank our new investor group for the trust they are showing in us.”

Dirk Markus, AURELIUS’ co-founder, adds: “Being able to close Fund V just ahead of our 20-year anniversary celebrations is especially gratifying. Many conversations with potential investors have shown that they want GPs to go back to the basics of improving the operational performance of their portfolio companies, rather than relying on financial leverage or multiple expansion. AURELIUS has no need to ‘go back’ – we have been all about operational excellence since our inception in 2005.”

Aurelius Investment Advisory Limited is an Appointed Representative of Langham Hall Fund Management LLP, which is authorised and regulated by the Financial Conduct Authority of the UK.

Asante Capital Group acted as exclusive global placement agent.

For further inquiries, please contact:

Harald Kinzler
Head of Communications
harald.kinzler@aurelius-group.com
+44 7510 385 551

[1] Benchmark figures sourced from Cambridge Associates ex-US Q2 2024 Private Equity Benchmarks. AURELIUS Midmarket performance data as at Q3 2024. No fees were paid in connection with this benchmarking.

ABOUT AURELIUS

AURELIUS is a globally active alternative investor, distinguished and widely recognised for its operational approach. It focuses on Private Equity, Private Debt and Real Estate. Its key investment platforms include AURELIUS European Opportunities IV, AUR Portfolio III and AURELIUS Growth Investments (Wachstumskapital). AURELIUS has been growing significantly in recent years, particularly expanding its global footprint, and today employs more than 400 professionals in 9 offices spanning Europe and North America.

AURELIUS is a renowned specialist for complex investments with operational improvement potential such as carve-outs, platform build-ups or succession solutions as well as bespoke financing solutions. To date, AURELIUS has completed more than 300 transactions, building a strong track record of delivering attractive returns to its investors. Its approach is characterised by its uncompromising focus on operational excellence and an unrivalled ability to efficiently execute highly complex transactions.

More info: www.aurelius-group.com

Since 2015, Scalable Capital has provided retail investors with access to simple and cost-effective investment options.

Today, clients in Europe can invest in ETFs, stocks, funds, bonds, cryptocurrencies, derivatives, and Private Equity. Broker clients receive attractive interest rates on their cash from our partner banks and have instant access to low-cost securities-backed loans against their portfolio.

This is the company’s largest funding round to date, taking the total raised to more than €470 million. The round was led by Sofina and Noteus Partners, with support from existing investors including Balderton. Balderton’s first investment was in 2023.

At the end of last year, Scalable Capital launched the European Investor Exchange. This exchange is specifically tailored to the needs of retail investors in Europe. Recently, the Scalable Broker has also begun offering private equity investments: through ELTIFs (European Long-Term Investment Fund), eligible clients can invest in this attractive asset class on equal footing with institutional investors such as insurance companies or pension funds.

Starting this summer, Scalable will also be available for the next generation: with kids’ accounts, parents can use the Scalable Broker to invest in their children’s financial future.

Brings Total Assets Raised Across Hybrid and Opportunistic Credit Business to $40 Billion

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced it has closed on $8.5 billion in total commitments for the Accord+ strategy, inclusive of $4.8 billion for Accord+ Fund II (“the Fund”) as well as separately managed accounts and related structures. The successful close of the second vintage exceeds internal targets and brings total assets for Apollo’s hybrid credit business to approximately $40 billion.

Accord+ II employs an opportunistic strategy focusing on high-conviction investments across the credit spectrum. The Fund is expected to tactically allocate to high quality, top of the capital structure investments across both private corporate credit and asset-backed finance as well as secondary opportunities as informed by prevailing market conditions.

“As rates stay higher-for-longer and volatility impacts capital flows, we see an attractive market for opportunistic credit investments, alongside our highest-conviction themes,” said Chris Lahoud, Partner and Head of Opportunistic Credit at Apollo. “We believe our scaled, integrated Credit platform positions us well to execute with speed and certainty in all market environments, including periods of dislocation.”

John Zito, Co-President of Apollo Asset Management and Head of Credit, added, “We are pleased to see strong investor demand for the latest vintage of our Accord+ series, which we view as a result of our investment acumen, alignment and the market opportunity at hand. Accord+ is also a great illustration of our focus on product innovation, building upon the original Accord dislocation strategy to respond to investor needs and deploy capital to many of our best ideas throughout market cycles.”

The Accord+ II close reflects broad support from a global and diverse group of investors including pension funds, sovereign wealth funds, financial institutions and family offices. Apollo intends to continue building its Accord strategy family within its hybrid business, including future funds and bespoke credit solutions tailored to institutional and wealth clients.

Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo in connection with the closing of the Accord+ II Fund.

About Apollo
Apollo is a global, high-growth alternative asset manager. In its asset management business, Apollo seeks to provide clients excess return at every point along the risk-reward spectrum from investment grade to private equity, with a focus on three core strategies: yield, hybrid, and equity. For more than three decades, Apollo’s investing expertise across its fully integrated platform has served the financial return needs of clients and provided businesses with innovative capital solutions for growth. Through Athene, Apollo’s retirement services business, it specializes in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Apollo’s patient, creative, and knowledgeable approach to investing aligns its clients, the businesses it invests in, its team members, and the communities it impacts to expand opportunity and drive positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

AlpInvest Strategic Portfolio Finance Fund II (“ASPF II”) exceeds its initial target and more than triples prior program size at $3.2 billion when including parallel SMAs and co-investments

Successful fundraise coincides with the closing of multiple Senior Portfolio Lending mandates and co-investments, bringing new capital raised for AlpInvest’s Portfolio Finance Platform to over $4 billion

New York and London, April 7, 2025 – AlpInvest Partners, a leading global private equity investor and subsidiary of Carlyle (NASDAQ: CG), has raised $3.2 billion for AlpInvest Strategic Portfolio Finance Fund II (“ASPF II”), inclusive of parallel SMAs and co-investments, exceeding its initial target and more than tripling the size of its prior program, ASPF I. Including the simultaneous closing of multiple Senior Portfolio Lending mandates and co-investments, which invest in investment grade Portfolio Financings, total new capital raised for AlpInvest’s Portfolio Finance platform exceeds $4 billion.

The fund, ASPF II, provides financing solutions to private equity funds, GPs, and LPs. It also pursues Credit Secondaries investments, which support an optimized portfolio construction. The fund takes a private credit approach, emphasizing downside mitigation through cross-collateralization, diversification, and significant equity overcollateralization, while offering cash yield and optimized duration. Leveraging AlpInvest’s leadership in the global secondaries market, ASPF II benefits from the firm’s integrated Secondaries and Portfolio Finance platform, which provides a full range of solutions from credit to equity as well as deep relationships with over 380 GPs worldwide.

“The strong investor demand for ASPF II and our broader Portfolio Finance strategy is a testament to the market’s recognition of our differentiated approach and the value our solutions bring to private equity sponsors and investors,” said Michael Hacker, Global Head of Portfolio Finance at AlpInvest. “With over $4 billion in total capital raised this cycle, we are now well-positioned to leverage our deep GP relationships, extensive structuring expertise, and the scale of the broader AlpInvest platform to deliver innovative and flexible financing solutions. This milestone represents the full realization of our vision for Portfolio Finance as a key pillar of the AlpInvest platform.”

ASPF II received backing from a broad mix of institutional investors globally, including insurance companies, sovereign wealth funds, pensions, corporations, and family offices, and received very strong support from existing investors in ASPF I.

“We are pleased to close ASPF II with such strong support from a range of investors, underscoring the caliber of our team, the capabilities of the AlpInvest platform, and the momentum and demand we are seeing across our offering of portfolio financing solutions,” said Ruulke Bagijn, Head of Carlyle AlpInvest. “This successful fundraise is a testament to our extensive track record of performance and our global GP relationships.”

Chris Perriello, Global Head of Secondaries at AlpInvest, added: “We were among the first global players to recognize that Portfolio Finance would be an essential strategic complement to our existing Secondaries platform. This approach allows us to offer flexible solutions to GPs and LPs while enhancing liquidity and optimizing portfolios.”

ASPF II has already executed 10 transactions, spanning financings for private equity and private credit funds, GP commitment financings, LP portfolio recapitalizations for sovereign wealth funds and asset managers, and Credit Secondaries such as the spinout of Norwest Mezzanine Partners.

About AlpInvest

AlpInvest, a subsidiary of Carlyle (NASDAQ: CG), is a leading global private equity investor with $85+ billion of assets under management and more than 500 investors as of December 31, 2024. It has invested with over 380 private equity managers and committed over $100 billion across primary commitments to private equity funds, secondary transactions, portfolio financings and co-investments. AlpInvest employs more than 250 people in New York, Amsterdam, Hong Kong, London, and Singapore. For more information, please visit www.carlylealpinvest.com.

Media Contacts

U.S.

Isabelle Jeffrey

+1 (212) 332-6394

isabelle.jeffrey@carlyle.com

EMEA

Nicholas Brown

nicholas.brown@carlyle.com

+44 7471 037 002