Carlyle Group raised $20 billion to buy second-hand private equity stakes from investors offloading assets after a downturn in public listings and acquisition deals. AlpInvest unit raised $15 billion for its latest fund, with $3.2 billion in co-investment commitments. $2 billion was raised for private wealth vehicles to invest alongside the main fund.

A slowdown in deals led to 29,000 companies valued at $3.6 trillion in private equity firms’ portfolios by 2024. The secondary market offers a way to sell assets, usually at a discount to previous valuations. The value of secondary market assets grew to $601 billion in 2024 from $273 billion in 2019, now representing 5% of all private equity assets globally.

Read more at Yahoo Finance: Carlyle raises $20 billion to buy second-hand private equity stakes