# Alpinvest US Holdings, LLC

> Alpinvest US Holdings, LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2023, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 16, 2026.

- CRD: 328458
- Filed as: ALPINVEST US HOLDINGS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: July 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/328458
- AdvisorCensus page: https://advisorcensus.com/firm/alpinvest-us-holdings-llc-new-york-ny-328458

## Quick answers

**How is Alpinvest US Holdings, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Alpinvest US Holdings, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**What does Alpinvest US Holdings, LLC's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.1% to 1.6% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Alpinvest US Holdings, LLC located?**
Alpinvest US Holdings, LLC's principal office is in New York, NY, according to its Form ADV; the August 2026 filing also lists 5 other offices (Schedule D, Section 1.F).

**Is Alpinvest US Holdings, LLC registered with the SEC or a state?**
Alpinvest US Holdings, LLC is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 328458.

**How much does Alpinvest US Holdings, LLC manage?**
Alpinvest US Holdings, LLC reports $57,655,913,506 in regulatory assets under management in its Form ADV filing dated July 16, 2026 (98% discretionary).

**How have Alpinvest US Holdings, LLC's assets and staff changed since 2024?**
In the Form ADV data for Alpinvest US Holdings, LLC: Regulatory assets under management: $38,556,845,002 in the October 2024 data and $57,655,913,506 in the October 2026 data, up 50%. Total employees: 216 in October 2024 and 289 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Alpinvest US Holdings, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (120); sovereign wealth funds and foreign official institutions (9); state or municipal government entities (including government pension plans) (2).

**Does Alpinvest US Holdings, LLC report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/328458

**What changed in Alpinvest US Holdings, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $47,069,132,425 to $57,655,913,506 (+22%). Employees performing advisory functions went from 106 to 127. Added an office in Washington Dc, DC.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Asset-based fee: 0.1% to 1.6% a year (a range, as the brochure states it)

> Management fees are generally calculated at an annual rate ranging from 0.1% to 1.6% of either available capital commitments or committed capital to investments for a period of one to five (or more) years

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $57,655,913,506
- Discretionary: $56,310,176,000
- Non-discretionary: $1,345,737,506

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Banking or thrift institutions | 1 | $37,052,809 |
| Pooled investment vehicles (other than investment companies and business development companies) | 120 | $53,725,930,964 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 1 | $27,595,889 |
| State or municipal government entities (including government pension plans) | 2 | $224,279,034 |
| Other investment advisers | 1 | $6,781,004 |
| Insurance companies | 2 | $684,884,549 |
| Sovereign wealth funds and foreign official institutions | 9 | $2,949,389,257 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2023 (2 years)
- Employees: 289 total, 127 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/328458

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Amsterdam
- Hong Kong
- London
- Singapore
- Washington Dc, DC

### Websites listed on Form ADV (Item 1.I)
- carlyle.com
- ir.carlyle.com
- open.spotify.com/show/0lSJsAuCuKk94tcR2p9yEu
- open.spotify.com/show/6gfrqUhrdRzXUQuV9V2dtS
- podcasts.apple.com/us/podcast/insights-and-indicators/id1607380340
- Facebook @onecarlyle
- LinkedIn @alpinvest-partners
- LinkedIn @the-carlyle-group
- X @onecarlyle
- YouTube @onecarlyle

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $38,556,845,002 | 216 | August 7, 2024 |
| October 2025 | $47,069,132,425 | 236 | July 24, 2025 |
| October 2026 | $57,655,913,506 | 289 | July 16, 2026 |

Regulatory assets under management: $38,556,845,002 in the October 2024 data and $57,655,913,506 in the October 2026 data, up 50%.
Total employees: 216 in October 2024 and 289 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $47,069,132,425 to $57,655,913,506 (+22%).
- Employees performing advisory functions went from 106 to 127.
- Added an office in Washington Dc, DC.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Alpinvest US Holdings, LLC (CRD 328458): Form ADV filing data as of October 2026.