Manager, Fund Accounting Policy

1P284 THE CARLYLE GROUP EMPLOYEE CO., LLC; Washington (District of Columbia); On-site; USD 130,000 - 150,000; Full time

Benefits offered by this job

Base salary $130,000–$150,000

Comprehensive benefits package

Annual discretionary incentive program

Job summary

The Carlyle AlpInvest is seeking a Manager of AlpInvest Accounting Policy to lead the technical accounting function across three platforms and align fund-level accounting practices with Carlyle’s enterprise framework. You will partner with Fund Controllership, Fund Management, and Deal Teams to address consolidation, ASC 810, ASC 606, and related accounting matters.

The role emphasizes policy standardization, SOX 404 compliance, and collaboration with internal and external auditors, with a base

Qualifications

• Bachelor's in Accounting or Finance; CPA designation preferred.

Responsibilities

• Serve as GAAP accounting liaison across Accounting Policy and AlpInvest business.
• Standardize and maintain AlpInvest’s accounting policies; draft policy papers and roll out updates.
• Develop knowledge of fund structures to inform policy positions and ensure accuracy in analyses.
• Advise on fund-level investment accounting policy, including recognition, measurement and presentation of portfolio activity.
• Prepare consolidation analyses (ASC 810) and assess VIEs, primary beneficiary determinations, and non-controlling interests.
• Support other technical areas including ASC 820, ASC 323, ASC 860, ASC 606 and related parties.

Skills

US GAAP knowledge

Technical accounting research

Documentation

SOX 404

Education

Bachelor's in Accounting or Finance

Job description

Position Summary

Carlyle AlpInvest is one of the largest private markets investors globally, with over $102 billion in AUM, more than 120 investment professionals, and offices across New York, London, Amsterdam, Hong Kong, Singapore, and Tokyo, operating three integrated platforms: Primary Fund Investments, Co-Investments, and Secondary & Portfolio Finance. The Manager of AlpInvest Accounting Policy will work under the direction of the Vice President of Accounting Policy to lead the technical accounting function supporting all three platforms, supporting the continued integration of AlpInvest’s accounting processes, controls, and reporting into Carlyle’s broader corporate accounting infrastructure. The Manager will also help facilitate the timely identification, evaluation, and resolution of complex Firm-level accounting matters arising from AlpInvest’s ongoing business operations and significant strategic transactions, with key areas of focus including consolidation under ASC 810 and revenue recognition under ASC 606. The Manager will serve as the primary accounting policy liaison to the AlpInvest business, partnering with AlpInvest Fund Controllership, Fund Management, and Deal Teams to assess and harmonize fund-level accounting practices—covering fund structuring, waterfall and carry mechanics, capital call and distribution accounting, and fee/expense allocation—and collaborating across Global Corporate Accounting, Partnership Accounting, Legal and Entity Compliance, Tax, Internal Audit, and External Auditors to ensure AlpInvest’s systems and controls are fully integrated with Carlyle’s enterprise-wide processes. The role also supports the SEC reporting team on disclosure requirements and the Corporate Accounting team on accurate recording of transactions to the general ledger.

Primary Responsibilities

Technical Accounting Policy, Governance & Advisory (~80%) Serve as the GAAP accounting liaison between the Accounting Policy function and the AlpInvest business, as well as across broader Carlyle functions and teams, including but not limited to: Global Corporate Accounting, Fund Accounting, Tax, Legal, Entity Compliance, Fund Management, Deal Teams, Treasury, and Internal Audit. Standardize and maintain AlpInvest’s accounting policies, including performing gap assessments against existing AlpInvest practices, drafting updated policy papers, and rolling out revised guidance to AlpInvest Fund Accounting team; build scalable accounting policies and frameworks in advance of new products, strategies, and fund structures as the AlpInvest business continues to grow. Conduct technical accounting research, prepare accounting analyses, draft accounting position memos, and collaborate with external auditors in addressing technical accounting matters that arise during AlpInvest and broader Carlyle business operations and strategic transactions. Develop working knowledge of AlpInvest’s range of fund legal structures—including master-feeder arrangements, parallel funds, blocker corporations, alternative investment vehicles (AIVs), and multi-jurisdictional—to inform accounting policy positions and ensure structural considerations are appropriately reflected in technical analyses. Advise on fund-level investment accounting policy, including recognition, measurement, and presentation of portfolio activity, realized and unrealized gains/losses, capital commitments, and transfers. Advise on technical accounting for portfolio finance and secondary transactions, including sale-versus-financing assessments, guarantee accounting under ASC 460/ASC 470, and accounting for LP secondary stake acquisitions and GP-led continuation fund transactions. Prepare consolidation (ASC 810) analyses for new AlpInvest fund structures, documenting judgments related to variable interest entities (VIEs), primary beneficiary assessments, and non-controlling interests. Support other technical accounting areas including: fair value measurement (ASC 820), equity method investments (ASC 323), transfer and derecognition (ASC 860), revenue recognition (ASC 606), related parties, non-controlling interests, and non-GAAP / segment reporting. Monitor, assess, and coordinate the adoption of new accounting and SEC pronouncements as well as industry trends in accounting and financial reporting, including the implementation of relevant internal controls. Advise on fund-level financial statement presentation for AlpInvest vehicles (balance sheet, statement of operations, statement of changes in net assets, and cash flows under ASC 946), and assess how AlpInvest-specific accounting positions and transactions flow through to Carlyle’s Firm-level financial reporting, including 10-K/10-Q disclosures and consolidated financial statement impacts. Support internal control compliance (SOX 404) within the accounting policy function.

Innovation, Technology & Process Transformation

(~20%) Support continued integration of AlpInvest accounting operations into Carlyle’s enterprise business processes and systems, partnering with Technology teams and Fund Management. Collaborate on the identification and implementation of scalable technology and other solutions to improve efficiency and effectiveness within the accounting policy function and across Carlyle.

Requirements

Education & Certificates Bachelors in Accounting or Finance, required Concentration in accounting, finance or related field, preferred CPA designation, preferred Professional Experience Minimum of 5 years of progressive experience in public accounting or technical accounting policy, required. In-depth knowledge of US GAAP, with demonstrated proficiency in technical accounting research, analysis, and documentation. Experience applying US GAAP to alternative asset management fund legal structures and economics, including investment accounting, fund-level financial reporting (ASC 946), consolidation (ASC 810), revenue recognition (ASC 606), and fair value measurement (ASC 820). Experience with internal control compliance (SOX 404), preferred but not required.

Benefits/Compensation

• The compensation range for this role is specific to Washington D.C. 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 $130,000 to $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.

Due to the high volume of candidates, please be advised that only candidates selected to interview will be contacted by The Carlyle Group.

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.

About Us

The Carlyle Group (NASDAQ: CG) is a global investment firm with $485 billion of assets under management, across 678 investment vehicles as of June 30, 2026. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world's largest and most successful investment firms, with more than 2,500 professionals operating in 28 offices in North America, Europe, the Middle East, Asia and Australia. Carlyle’s purpose is to connect people, ideas, and capital to fuel growth for companies and performance for 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 deep expertise across industries, markets, and geographies. 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.\" Reflecting this view, emphasis is placed on development, retention and inclusion through our internal processes and seven Employee Resource Groups (ERGs). We cultivate a culture where ideas are openly shared and challenged, connecting diverse expertise and perspectives to drive enduring value.