Single-asset continuation vehicles (CVs) are increasingly integrated into limited partners’ (LPs) portfolio construction as investors grow comfortable with the strategy, says Julian Rampelmann of Carlyle Alp Invest. The firm’s second single-asset fund has now closed, marking a milestone in its strategy to focus on dedicated continuation vehicles.

Ranked as the seventh‑largest secondaries investor in the SI 50, Carlyle Alp Invest exceeded expectations by raising $1.7bn for its latest vehicle, a substantial lift over the $1bn target set for the fund and the $1bn raised by its predecessor.

The Alp Invest Atom Fund II closed on $1.7bn against a $1bn target, as stated in a press release shared with Secondaries Investor. The fund’s success underscores the growing appetite for single‑asset strategies among institutional investors seeking liquidity, diversification, and value creation.

With the second fund now fully subscribed, the firm is well positioned to continue its expansion into single‑asset continuation vehicles, positioning itself as a leader in the space and potentially attracting larger capital commitments from LPs seeking specialized secondary solutions.