Basic information

Job Name:

2-Year Associate, AlpInvest Co-Investments (Immediate Hire)

Location:

New York/OVA

Line of Business:

Carlyle AlpInvest

Job Function:

Investment Professionals

Date:

Wednesday, June 18, 2025

Position Summary

AlpInvest Partners, a division of The Carlyle Group, is seeking a highly motivated Associate to join its Co-Investments team in New York. As a key member of the team, you will engage directly in evaluating and executing private equity co-investments across a wide range of industries, geographies, and strategies. The role offers exposure to high-quality transactions alongside leading private equity sponsors, while building critical investment skills and deepening your understanding of the global private markets landscape.

This opportunity is ideal for candidates who thrive in a rigorous, collaborative environment and are intellectually curious about company-level investing. The Associate will work closely with senior investment professionals across the full investment lifecycle from sourcing and diligence through execution and portfolio monitoring. You will join a culture that values humility, precision, and inclusivity, and you will be supported by a global platform known for delivering customized investment solutions to a sophisticated institutional client base.

This 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.

AlpInvest Partners Overview

AlpInvest Partners is one of the largest and well-established private equity investors globally, with over $100 billion committed to investments since inception and over $90 billion in AUM as of June 30, 2024. AlpInvest is wholly owned by The Carlyle Group and serves as the private equity multi-manager adviser within the Carlyle Investment Solutions business segment. AlpInvest professionals have full access to Carlyle's resources and network providing a key differentiator in the private equity market, associate experience and post-associate opportunities, including business school.

AlpInvest's activities cover a broad range of private equity, including Primary Fund commitments, Secondary Investments and Co-Investments. The firm's investments span the full spectrum of private equity: buyouts, venture, growth capital, energy, mezzanine, and distressed. AlpInvest offers customized private equity solutions to clients through separately managed accounts and commingled funds. AlpInvest has a large and diverse base of more than 550 investors globally, including sovereign wealth funds, public and private pension funds, insurance companies, family offices and other financial institutions.

AlpInvest has offices in New York, Amsterdam, London, and Hong Kong with a team of more than 90 investment professionals and over 240 employees across the globe.

www.AlpInvest.com

AlpInvest Co-Investments Overview

AlpInvest's Co-Investment team invests directly in companies, partnering with lead financial sponsors across the globe to provide equity financing in private equity transactions and leveraged buyouts. Investments are made globally across all industries, market segments and buyout categories by a team consisting of 33 investment professionals located in New York, Amsterdam and Hong Kong.

The Co-Investment Program is designed to work alongside private equity GPs throughout the lifecycle of a deal. AlpInvest Partners engages early in the deal process and actively supports the lead financial sponsor underwriting a bid for a company in addition to acting as a supportive partner to help finance leveraged buyouts. The team has invested $17+ billion in over 400 transactions with 150+ private equity firms including Permira, Apollo, TA Associates, Advent, KKR, Symphony Technology Group, CVC Capital, TSG Consumer, Hellman & Friedman, Thoma Bravo, GTCR, Francisco Partners, Silver Lake and Littlejohn.

Responsibilities

• Evaluate co-investment opportunities across sectors and geographies by reviewing investment memoranda, financial statements, and sponsor materials.
• Build detailed financial models to assess target company performance, including operating metrics, debt structures, and exit scenarios.
• Prepare internal investment memoranda and presentations for Investment Committee consideration.
• Participate in management presentations, site visits, and diligence calls with portfolio company leadership and private equity sponsors.
• Perform in-depth valuation analysis using DCF, precedent transaction, and trading comps methodologies.
• Analyze sponsor track records and investment strategies through structured diligence and historical performance reviews.
• Collaborate with legal, compliance, operations, and portfolio monitoring teams throughout deal execution and post-investment stages.
• Conduct thematic and sector-specific research to identify market trends and investment opportunities.
• Maintain accurate records of investment pipeline activity and transaction documentation in the firm's CRM and data management platforms.
• Support investor reporting, client deliverables, and fundraising activities, including portfolio analysis, case studies, and responses to due diligence requests.

Many of the responsibilities may be supported through the use of AI technologies, allowing greater focus on the following strategic areas:

• Engaging in advanced investment thesis development and proprietary insights
• Deepening sponsor relationships and expanding sourcing partnerships
• Shaping sector outlooks and firm-level co-investment strategy
• Contributing to ESG and impact-related investment assessments
• Participating in cross-functional innovation and knowledge-sharing initiatives

Qualifications

Education & Certificates

• Bachelor's degree required from a top-tier academic institution
• Coursework in finance, economics, accounting, or business preferred

Professional Experience

• 2-4 years of relevant experience in private equity, investment banking, management consulting, or another analytical finance role
• Strong interest in co-investments and direct company-level investing
• Demonstrated proficiency in financial modeling, valuation, and due diligence
• Ability to work under pressure, manage multiple workstreams, and collaborate across functions
• Strong written and verbal communication skills, including comfort presenting ideas and interacting with external partners
• Experience working with cross-border teams or global transactions a plus
• Aptitude for applying AI technologies to enhance diligence workflows, including document review, data extraction, and scenario modeling
• Familiarity with legal-tech tools or workflow automation platforms used to streamline transaction processes or manage investment documentation

Benefits/Compensation

The compensation range for this role is specific to New York City and takes into account a wide range of factors including but not limited to the skill sets required/preferred; prior experience and training; licenses and/or certifications.

The anticipated base salary range for this role is $150,000.

In addition to the base salary, the hired professional will enjoy a comprehensive benefits package spanning retirement benefits, health insurance, life insurance and disability, paid time off, paid holidays, family planning benefits and various wellness programs. Additionally, the hired professional may also be eligible to participate in an annual discretionary incentive program, the award of which will be dependent on various factors, including, without limitation, individual and organizational performance.

Company Information

The Carlyle Group (NASDAQ: CG) is a global investment firm with $453 billion of assets under management and more than half of the AUM managed by women, across 641 investment vehicles as of March 31, 2025. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world's largest and most successful investment firms, with more than 2,300 professionals operating in 29 offices in North America, Europe, the Middle East, Asia and Australia. Carlyle places an emphasis on development, retention and inclusion as supported by our internal processes and seven Employee Resource Groups (ERGs). Carlyle's purpose is to invest wisely and create value on behalf of its investors, which range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions and corporations. Carlyle invests across three segments - Global Private Equity, Global Credit and Carlyle AlpInvest - and has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation.

At Carlyle, we believe that a wide spectrum of experiences and viewpoints drives performance and success. Our CEO, Harvey Schwartz, has stated that, "To build better businesses and create value for all of our stakeholders, we are focused on assembling leadership teams with the strongest insights from a range of perspectives." We strive to foster an environment where ideas are openly shared and valued. By bringing together teams with varied expertise and approaches, we enjoy a competitive advantage and create a stronger foundation for long-term success.