Carlyle AlpInvest Private Markets Secondaries (CAPS Sicav)

Carlyle AlpInvest Private Markets Secondaries (CAPS Sicav) is an open-ended SICAV launched by Carlyle in 2025 and domiciled in Luxembourg, where it sits among 347 vehicles on this platform. It is structured as a Non-ELTIF product authorised under the UCI Part II regime, with N/A applicable on the ELTIF framework, and it is distributed to both professional and eligible retail investors across Europe. The portfolio is managed in USD against a private equity mandate with a buyout focus implemented largely through secondary purchases of existing fund interests, one of 163 private equity strategies and 117 private equity funds domiciled in Luxembourg covered in a universe of 494 vehicles as of 31 Aug 2026.

Access mechanics follow the evergreen model: subscriptions are accepted on a monthly basis from a minimum ticket of 25,000 USD, net asset value is struck monthly, and liquidity is offered quarterly subject to a notice period of 30 and to the redemption limits set out in the fund documents. Because repayment depends on the manager's ability to generate liquidity from underlying secondary positions, the dealing calendar should be read as a gating framework rather than a guarantee of exit. The fund is classified Article 6 under SFDR and carries a summary risk indicator of 6.

Economics comprise a management fee of and a performance fee of , both of which can be compared with the equivalent terms of the other 117 private equity funds domiciled in Luxembourg. The manager states a return objective of , and reported assets stand at as of 31 Aug 2026, a figure to be read against the scale of the broader 163-fund private equity cohort when assessing portfolio diversification and the capacity of the vehicle to absorb redemption flow.