Carlyle and UBS’s Unified Global Alternatives (UGA) have teamed up to launch a new private equity secondaries initiative aimed at wealth management clients, broadening access to institutional-quality strategies in a growing segment of the market.

The open-ended secondaries solution will focus on providing enhanced liquidity, diversification, and long-term value for high-net-worth investors. The platform combines Carlyle AlpInvest’s extensive global secondaries expertise with UBS’s sourcing reach and capital scale across its alternative investment franchises.

“This collaboration underscores our commitment to expanding access to world-class private market solutions while maintaining the rigor and discipline of our institutional platform,” said Shane Clifford, Global Head of Wealth at Carlyle.

Chris Perriello, Global Head of Secondaries at Carlyle AlpInvest, added, “The secondaries market has grown and matured over the past two decades, and today we’re seeing one of the most active environments in years—with high-quality portfolios coming to market and a range of sellers seeking flexible solutions.”

Jerry Pascucci, Co-Head of UGA at UBS, commented, “We are proud to innovate with the world’s premier GPs, capitalizing on the scale, breadth, and resources of our leading private markets franchises to serve clients’ investment needs across the spectrum of alternative investment strategies.”

Johannes Roth, also Co-Head of UGA at UBS, said the partnership will bring together Carlyle’s deal execution and UGA’s sourcing network to build a strong pipeline for secondary market opportunities.

Carlyle manages $453bn in assets as of March 2025, with deep exposure to private equity, credit, and secondaries. UBS’s UGA platform oversees approximately $295bn across private equity, credit, hedge funds, real estate, and infrastructure.

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