AlpInvest Partners, a leading global private equity investor and subsidiary of Carlyle, has partnered with Mubadala Investment Company to form a new credit co-investment partnership. This collaboration aims to provide global portfolio senior fund financing, marking a significant expansion of both firms’ investment strategies.
The partnership builds on the long-established relationship between Mubadala and Carlyle and represents a key advancement in AlpInvest’s portfolio finance strategy, which began in 2018. Since its launch, AlpInvest has completed approximately $4bn in portfolio fund financing deals, positioning itself as an early leader in the sector.
The new partnership will enhance AlpInvest’s ability to offer efficient financial support to private equity managers, helping them drive value within their funds. Mubadala’s involvement will extend its credit investment strategy into senior loans secured by fund portfolios, complementing its existing co-investment efforts in direct lending, credit secondaries, real estate debt, and other areas.
“We are pleased to expand our relationship with Carlyle through this strategic partnership, which will invest in portfolio senior fund financing,” said Fabrizio Bocciardi, head of Credit Investments at Mubadala. The partnership has already made its first investment, demonstrating early success and a commitment to meeting the evolving needs of private equity funds.
Michael Hacker, global head of Portfolio Finance at AlpInvest, highlighted the partnership’s strategic importance, stating that it aligns with AlpInvest’s vision of providing transformative financing for private equity funds. The partnership underscores the growing importance of portfolio financing in the private equity sector.
