Ropes & Gray Advised Carlyle AlpInvest On $4.1 Billion Co-Investment Fund Closing

Ropes & Gray Advised Carlyle AlpInvest on $4.1 Billion Co-Investment Fund Closing

Ropes & Gray advised Carlyle AlpInvest, a leading global private equity investor, on the closing of AlpInvest Co-Investment Fund IX (ACF IX) with total capital commitments of $4.1 billion, including strategic mandates. The fund achieved its initial fundraising target and exceeded the size of its predecessor fund. The closing was announced via a press release on June 3, 2025.

ACF IX is a dedicated co-investment fund that will focus on investing alongside high-quality general partners in private equity buyouts and growth capital transactions across a wide range of global industry sectors. More than 185 institutional investors participated, including public and corporate pension funds, financial institutions, asset managers, foundations, and family offices across North America, Latin America, Europe, the Middle East, and Asia.

The Ropes & Gray team advising on the transaction included asset management partners Lindsey Goldstein, Marc Biamonte, Joel Wattenbarger, and Nicole Krea; tax partners Brandon Dunn, Adam Greenwood, and Dan Kolb; and finance partners Patricia Lynch and Patricia Teixeira.

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