Manager, Fund Accounting Policy

Position Summary

Carlyle Alp Invest 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 Alp Invest 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 Alp Invest’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 Alp Invest’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 Alp Invest business, partnering with Alp Invest 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 Alp Invest’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.

Technical Accounting Policy, Governance & Advisory (~80%) Serve as the GAAP accounting liaison between the Accounting Policy function and the Alp Invest 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 Alp Invest’s accounting policies, including performing gap assessments against existing Alp Invest practices, drafting updated policy papers, and rolling out revised guidance to Alp Invest Fund Accounting team; build scalable accounting policies and frameworks in advance of new products, strategies, and fund structures as the Alp Invest 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 Alp Invest and broader Carlyle business operations and strategic transactions. Develop working knowledge of Alp Invest’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 Alp Invest 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 /…