2-Year Associate, AlpInvest Secondaries & Portfolio Finance

1P284 THE CARLYLE GROUP EMPLOYEE CO., LLC; Ova (KY); On-site; USD 127,500 - 172,500; Full time

Benefits offered by this job

Comprehensive benefits package

Paid time off

Discretionary annual incentive program

Job summary

AlpInvest Partners, part of The Carlyle Group, seeks an Associate for the Secondaries & Portfolio Finance Investments team to contribute to complex private equity opportunities. You will perform detailed financial analysis, build models, and lead due diligence in a collaborative environment with senior professionals.

Global exposure and access to Carlyle resources support growth. The role emphasizes structuring and risk mitigation across secondaries, with opportunities to shape investment theses

Qualifications

• Bachelor’s degree required; concentrations in Finance, Economics, Business, or quantitative field preferred.
• Minimum 2 years in investment banking, private equity, private credit, or similar.
• Experience with financial modeling, valuation, and transaction structuring.
• Experience in due diligence and presenting investment recommendations.
• Strong written and verbal communication; ability to manage multiple workstreams.

Responsibilities

• Conduct detailed company-level financial analysis across a broad range of industries.
• Build and maintain fund-level and credit-like cash flow models.
• Prepare comprehensive due diligence materials and investment committee proposals.
• Lead due diligence meetings and manage follow-up communication with internal and external stakeholders.
• Research and evaluate complex private equity investment structures such as fund restructurings, secondary directs, and spin-outs.
• Analyze and recommend solutions for NAV loans, GP financing structures, and LP interest financings.
• Monitor existing investments through regular engagement with General Partners, including participation in advisory board meetings.
• Develop investment theses and express an independent point of view on proposed transactions.
• Support innovation across transaction structuring and risk mitigation strategies in collaboration with senior deal team members.
• Develop comprehensive financial models and investment specific analysis.
• Enhance judgment around risk-adjusted returns across different market environments.
• Identify complex, high-conviction investment themes across different secondaries investment portfolios and structures.

Skills

Financial modeling

Due diligence

Valuation

Transaction structuring

Analytical abilities

Verbal and written communication

Education

Bachelor's degree in Finance/Economics/Business or quantitative discipline

Tools

Excel

Financial modeling software

Job description

AlpInvest Partners Overview

The Associate will join the Secondaries & Portfolio Finance Investments team within AlpInvest Partners, a leading private equity investor wholly owned by The Carlyle Group. This role offers the opportunity to contribute meaningfully to a high-performing team that specializes in innovative secondary transactions and capital solutions across the private equity landscape. You will operate in a collaborative, flat team environment alongside experienced professionals, engaging directly with complex investment opportunities. The Associate role is well-suited for individuals with strong analytical abilities, a proactive mindset, and an interest in shaping outcomes across a range of private equity transactions. With global exposure and full access to Carlyle’s resources, this role offers professional development and growth within a platform designed to support long-term career ambitions. 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.

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. 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.

Responsibilities

• Conduct detailed company‑level financial analysis across a broad range of industries.
• Build and maintain fund‑level and credit‑like cash flow models.
• Prepare comprehensive due diligence materials and investment committee proposals.
• Lead due diligence meetings and manage follow‑up communication with internal and external stakeholders.
• Research and evaluate complex private equity investment structures such as fund restructurings, secondary directs, and spin‑outs.
• Analyze and recommend solutions for NAV loans, GP financing structures, and LP interest financings.
• Monitor existing investments through regular engagement with General Partners, including participation in advisory board meetings.
• Develop investment theses and express an independent point of view on proposed transactions.
• Support innovation across transaction structuring and risk mitigation strategies in collaboration with senior deal team members.
• Develop comprehensive financial models and investment specific analysis.
• Enhance judgment around risk‑adjusted returns across different market environments.
• Identify complex, high‑conviction investment themes across different secondaries investment portfolios and structures.

Education & Certifications

• Bachelor’s degree from an accredited institution is required.
• Concentrations in Finance, Economics, Business, or a quantitative discipline are preferred.

Professional Experience

• Minimum of 2 years of relevant experience in investment banking, private equity, private credit, or a similar transaction‑focused environment.
• Demonstrated expertise in financial modeling, valuation, and transaction structuring.
• Exposure to complex investment scenarios such as leveraged buyouts, restructurings, or structured financings.
• Familiarity with conducting comprehensive due diligence and presenting investment recommendations.
• Excellent verbal and written communication skills; ability to distill and articulate complex ideas clearly and succinctly.
• Experience managing projects across multiple workstreams under tight timelines.
• Interest in understanding the business fundamentals of diverse industries.

Benefits / Compensation

The compensation range for this role is specific to New York 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 for this role is $150,000.

• Comprehensive benefits package spanning retirement benefits, health insurance, life insurance and disability.
• Paid time off, paid holidays, family planning benefits and various wellness programs.
• Eligibility 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.