Carlyle Group is pursuing a massive $60 billion fundraising campaign for its AlpInvest business as part of a broader $200 billion-plus capital raising initiative through 2028. The alternative asset manager aims to capitalize on surging demand in the secondaries market, where transaction volumes are doubling every four to five years.

Jeff Nedelman, Carlyle's co-president, outlined the ambitious targets at the firm's 2026 shareholder update, revealing plans to raise over $50 billion for global private equity and more than $90 billion for credit strategies within three years. The $60 billion goal for AlpInvest represents 50 percent growth from the $40 billion-plus raised in the previous three-year period, with half of that coming from the firm's $20 billion AlpInvest Secondaries Program VIII.

The fundraising surge reflects strong market dynamics, with 75 percent of general partners now planning to use secondary markets over the next two years, up from 25 percent five years ago. Carlyle's deep GP relationships and proprietary data accumulated over 25 years position it to capture this growth, particularly as the firm expands into credit secondaries, insurance, and portfolio finance.