Investment Associate, Private Credit Secondaries and Structured Capital Solutions
Carlyle · New York, United States · 1mo ago
AlpInvest Partners Overview
Carlyle AlpInvest Partners is one of the largest private equity investors globally with over $112 billion of total capital committed as of March 31, 2026, and more than 120 investment professionals investment professionals operating in 5 offices. Carlyle AlpInvest is a core division of the Carlyle Group.
AlpInvest operates through three closely integrated investment teams: (i) Primary Investments commits capital to new private equity funds, (ii) Co-Investments invests directly in private equity companies alongside our relationship private equity managers through, and (iii) Secondary & Portfolio Finance provides various liquidity solutions through a broad range of transactions throughout the capital structure
Secondary & Portfolio Finance Investments Team Overview
The Secondary & Portfolio Finance Investments team focuses on acquiring pools of existing private equity assets and providing capital solutions across the private equity and credit ecosystem. AlpInvest is a market leader in complex opportunities requiring innovative solutions (secondary spin-outs, fund restructurings, secondary directs, etc.) and credit solutions (NAV loans, GP financing solutions, LP interest financings, and credit secondaries). The team has committed over $41Bn across 258 transactions since inception.
2-Year Associates are key members of the investment team working in a flat team environment directly with senior investment professionals. Associates work across both the Secondaries Program and the Portfolio Finance Program (ASPF) with a primary focus on ASPF transactions, and are responsible for due diligence, analysis and developing an initial and independent view of each investment.
Position Summary
As a 2-Year Associate within the Secondaries & Portfolio Finance Investments (ASPF) team at AlpInvest Partners, you will play a critical role in identifying and evaluating innovative capital solutions across the private equity and credit ecosystem. With a primary focus on Portfolio Finance transactions including NAV-based lending, GP financing, LP interest financings, and credit secondaries, Associates in this role engage in end-to-end deal execution, applying a thoughtful, collaborative, and analytical approach to complex investment opportunities.
AlpInvest, a wholly owned subsidiary of The Carlyle Group, is a global leader in private equity investing. Its robust platform enables Associates to gain meaningful exposure across sectors and structures while working closely with a globally integrated team. This role is well-suited for professionals who value intellectual rigor, a strong team orientation, and the opportunity to develop differentiated investment perspectives in a fast-evolving marketplace.
The role will leverage AI technologies to streamline operations, enhance decision-making, and drive execution of key responsibilities with greater efficiency and impact. While AI is a powerful enabler, it does not replace strategic thinking; human insight and judgment will remain essential.
This role is part of Carlyle’s formal 2-Year Associate program.
Primary Responsibilities
- Evaluate a diverse range of private equity and credit investment opportunities across secondary and portfolio finance transactions
- Perform advanced financial modeling including company-level, fund-level, and GP-level cash flow projections
- Lead and coordinate aspects of transaction due diligence including preparation of detailed due diligence request lists
- Prepare investment memoranda and presentation materials for internal investment committees
- Develop and present independent views on investment opportunities using market research and proprietary analysis
- Interface directly with general partners, intermediaries, and other stakeholders to develop insights into deal opportunities
- Monitor performance of existing investments including reviewing reports and attending advisory board and GP meetings
- Contribute to internal knowledge development and team training through research, sharing of lessons learned, and post-mortem review
Many of the responsibilities may be supported through the use of AI technologies, allowing greater focus on the following strategic areas:
- Developing comprehensive financial models and investment specific analysis
- Enhancing judgment around risk-adjusted returns across different market environments
- Identifying complex, high-conviction investment themes across different secondaries investment portfolios and structures
Requirements
Education & Certifications
- Bachelor’s degree from an accredited institution required; fields of study in finance, economics, or accounting preferred
Professional Experience
- Minimum of 2 years of experience in investment banking, private equity, or private credit
- Exposure to complex transaction structuring, due diligence processes, and financial modeling
- Demonstrated ability to analyze a variety of industry sectors and credit structures
- Strong written and verbal communication skills with the confidence to interact across seniority levels
- Experience with fund or asset-level valuation including NAV and cash flow-based assessments
- Familiarity with legal structuring, transaction execution, and risk assessment in private markets
Who We Are
When people, ideas, and capital come together, opportunity expands across private markets. At Carlyle, this belief has shaped how we invest for decades, fueling growth for companies and delivering performance for investors.
Visit our website to learn more about our firm and the ways our platform is shaping private markets.