2-Year Associate, AlpInvest Secondaries & Portfolio Finance

Alp Invest Partners Overview

The Associate will join the Secondaries & Portfolio Finance Investments team within Alp Invest 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.

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. Alp Invest 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.

• 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.

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

• 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…