AEA Investors Closes $550M Credit Continuation Vehicle 

AEA Private Debt, a private credit platform, has raised about $550 million for its credit continuation vehicle, which was led by Carlyle AlpInvest, a subsidiary of the Carlyle Group 

In addition to the capital, Carlyle AlpInvest will be supporting new loans by AEA Private Debt. The fund adds to the existing relationship between Carlyle AlpInvest and AEA, as the platform seeks to boost its role in credit secondaries. 

Recently, the Carlyle Group raised $20 billion to purchase second-hand private equity stakes from investors. In September, Carlyle AlpInvest, raised $15 billion for its fund, dubbed AlpInvest Secondaries Program VIII, along with $3.2 billion in co-investment commitments, the firm said. 

The continuation vehicle was developed to offset the loans from AEA Private Debt direct lending fund, AEA Middle Market Debt Fund III, which launched in 2016 and consists of loans to sponsor-backed U.S. middle market companies.  

Additionally, the credit continuation vehicle will provide investors with a liquidity option to reinvest in a “high-quality pool of private credit assets,” AEA Investors said. 

“This transaction underscores our commitment to delivering strong outcomes and innovative liquidity solutions for our investors,” Alexandra Jung, partner and head of AEA Private Debt, said. “Our partnership with Carlyle AlpInvest is a testament to our cycle-tested approach and reflects the strategic growth of AEA’s private debt business. With this continuation fund, we are further bolstering our ability to support leading middle market companies and sponsors while expanding the reach of the AEA Private Debt platform for the long term.”