Eldridge and Carlyle AlpInvest Partner to Launch the Eldridge Diversified Credit Platform and the Closing of its First Fund, EDCF I

Core Insights - Eldridge and Carlyle AlpInvest have successfully closed the Eldridge Diversified Credit Fund I, which is expected to provide up to approximately $1.5 billion in investable capital through equity commitments and debt financing [1][2][3] Group 1: Fund Overview - EDCF I was established through a credit secondary solution, anchored by the purchase of a diversified portfolio of loans and leases from Eldridge and its affiliates [2] - The Fund's capital base includes commitments from leading institutional investors globally, reflecting strong market interest [2] Group 2: Strategic Goals and Partnerships - The goal of the Fund is to meet the evolving needs of institutional borrowers while generating attractive returns through a differentiated, multi-strategy credit platform [3] - Eldridge's diversified credit platform combines corporate credit capabilities with asset-based equipment origination, providing a flexible toolkit for market navigation [3] Group 3: Financial and Legal Advisory - BNP Paribas arranged and led a senior credit facility to support EDCF I, indicating strong financial backing [3] - PJT Partners served as lead financial adviser, with Jefferies as co-lead, while Kirkland & Ellis LLP and Ropes & Gray LLP acted as legal counsel for Eldridge and Carlyle AlpInvest respectively [4] Group 4: Company Profiles - Eldridge is an asset management and insurance holding company with over $70 billion in assets under management, focusing on diversified credit, GP solutions, real estate credit, and sports & entertainment [5] - Carlyle AlpInvest is a leading global private equity investor with $102 billion in assets under management and over 700 investors, having committed over $111 billion across various investment strategies [6]