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

In The News
June 5, 2025

Ropes & Gray advised Carlyle AlpInvest, a leading global private equity investor, on the closing of AlpInvest Co-Investment Fund IX (“ACF IX”) at $4.1 billion, together with strategic mandates achieving its initial fundraising target and exceeding the size of its predecessor fund. The fund close was announced in a press release on June 3.

ACF IX is a dedicated co-investment fund that will seek to invest alongside high-quality GPs in private equity buyouts and growth capital transactions across industry sectors globally. More than 185 new and existing investors committed capital to ACF IX, including public pension funds, corporate pension funds, financial institutions, asset managers, foundations and family offices, spanning North America, Latin America, Europe, the Middle East, and Asia.

The Ropes & Gray team includes 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.