AlpInvest Partners is the private equity fund of funds arm of the Carlyle Group. It has $48 billion of assets under management as of June 30, 2013. AlpInvest's global investor base includes two large Dutch pension funds (ABP and PFZW), which were previous shareholders of the company, as well as institutional investorsfrom North America, Asia, Europe, South America and Africa.

AlpInvest operates three investment teams focused on private equity: Fund Investments, Secondary investments and Co-Investments. AlpInvest pursues investment opportunities across the entire spectrum of private equity including: large buyout, middle-market buyout, venture capital, growth capital, mezzanine,distressed and sustainable energy investments.