#United States #New York #AEA Investors #Private Debt #Carlyle AlpInvest

AEA Private Debt and Carlyle AlpInvest's Strategic Partnership to Propel Growth

In a significant advancement for private credit, AEA Private Debt, part of AEA Investors, and Carlyle AlpInvest, a prominent global private equity firm, have successfully completed the closing of a $550 million credit continuation vehicle. This strategic alliance is poised to enhance AEA's offerings in the crowded private debt market and provide fresh capital to grow existing investments.

The newly established vehicle aims to acquire a diversified portfolio of first-lien senior secured loans from AEA's 2016 vintage direct lending fund, the AEA Middle Market Debt Fund III. This fund primarily focuses on supporting U.S. middle market companies, which are often seen as vital components of the economic ecosystem. This partnership is not only a testament to the robust relationship between AEA and Carlyle but also highlights the alignment in their interests and investment philosophies.

Alexandra Jung, Partner and Head of AEA Private Debt, emphasized the transaction's significance, stating, "This initiative reflects our dedication to delivering strong outcomes and innovative liquidity solutions for our investors. Our collaboration with Carlyle AlpInvest is indicative of our cycle-tested approach and underscores the strategic expansion of AEA's private debt operations. With the creation of this continuation fund, we enhance our capacity to support leading middle market companies and sponsors."

On the other side, Mike Hacker, Partner and Global Head of Portfolio Finance at Carlyle AlpInvest, noted that this transaction not only underscores AEA's impressive portfolio but also emphasizes their partnerships with top-tier private equity sponsors. Korean investors will be drawn to this synergy as both firms have a history of aligning investment strategies that promote sustainable growth.

This partnership signifies more than just a financial transaction; it reflects a commitment to providing innovative and LP-friendly solutions that enhance investor confidence. The continued growth of Carlyle AlpInvest's Secondaries Portfolio Finance platform will further cement its position as a leader in supporting diverse credit managers, demonstrating a clear pathway toward innovation in the private debt arena.

Crafting a Strong Partnership

PJT Partners LP served as the financial advisor for this strategic transaction, while Simpson Thacher & Bartlett LLP acted as legal counsel for AEA Private Debt, and Ropes & Gray LLP represented Carlyle AlpInvest. Moreover, Wells Fargo was instrumental in providing the necessary financial backing to facilitate this transaction.

About AEA Investors and Carlyle AlpInvest

AEA Investors, established in 1968 by influential family interests, operates with a global reach and boasts a substantial network that includes leading industrial families and business executives. The firm's extensive expertise spans over $18 billion in invested and committed capital, with a commitment to leveraging middle market and small business investments.

Meanwhile, Carlyle AlpInvest manages assets totaling $97 billion as of mid-2025, serving more than 600 investors. With a history of collaboration with over 380 private equity managers, Carlyle continues to cement its reputation as a leader in innovative and LP-focused investment solutions across both private equity and private credit sectors.

With this collaboration, AEA Private Debt and Carlyle AlpInvest are set to redefine standards in private credit, potentially unlocking new growth avenues for middle-market companies across various industries. As they continue to build on their respective strengths, the implications for investors and the broader market are yet to unfold, but the foundations laid down by this partnership promise a bright future in private debt financing.