Key Takeaways
- • Carlyle and SEI have launched the SEI Carlyle Private Markets Fund (ticker PRVTX), a closed-ended private markets interval fund aimed at wealth management clients.
- • The fund uses a single-ticker structure to provide exposure to private equity, secondaries, private credit, real estate and collateralised loan obligations (CLOs) in one vehicle.
- • SEI, which manages, advises or administers around $2tn in assets, serves as investment adviser and will oversee portfolio construction, asset allocation, liquidity management and ongoing portfolio management.
- • Carlyle, with $479bn (£355.6bn) in assets under management, manages, sponsors or advises the underlying private markets products held by the fund.
Summary
Carlyle has partnered with SEI to launch the SEI Carlyle Private Markets Fund (PRVTX), a closed-ended private markets interval fund designed for wealth management clients. According to the firms, the vehicle gives investors access to private equity, secondaries, private credit, real estate and collateralised loan obligations through a single ticker, consolidating exposures that have historically been difficult to incorporate into wealth portfolios.
Carlyle, which has $479bn (£355.6bn) of assets under management, manages, sponsors or advises the underlying private markets products in which the fund invests. SEI, which manages, advises or administers around $2tn in assets, will act as the fund's investment adviser. Its responsibilities include portfolio construction, asset allocation, liquidity management and ongoing portfolio management, as well as providing CLO exposure within the portfolio.
Shane Clifford, head of global wealth at Carlyle, said the continued evolution of private markets is creating a broader set of opportunities for investors, and described PRVTX as an important milestone in the firms' strategic relationship. Robert Hum, head of investment product and commercialisation at SEI, said the combination of Carlyle's private markets expertise with SEI's investment, portfolio construction and implementation capabilities provides a more seamless path to private markets exposure through a single, professionally managed solution. Hum added that the launch is part of SEI's strategy to broaden access to institutional investment capabilities at scale.
The launch reflects a broader industry push to bring private markets strategies into the wealth channel, as private credit and other alternatives are increasingly distributed to individual investors seeking to expand their allocations.
Carlyle, which has $479bn (£355.6bn) of assets under management, manages, sponsors or advises the underlying private markets products in which the fund invests. SEI, which manages, advises or administers around $2tn in assets, will act as the fund's investment adviser. Its responsibilities include portfolio construction, asset allocation, liquidity management and ongoing portfolio management, as well as providing CLO exposure within the portfolio.
Shane Clifford, head of global wealth at Carlyle, said the continued evolution of private markets is creating a broader set of opportunities for investors, and described PRVTX as an important milestone in the firms' strategic relationship. Robert Hum, head of investment product and commercialisation at SEI, said the combination of Carlyle's private markets expertise with SEI's investment, portfolio construction and implementation capabilities provides a more seamless path to private markets exposure through a single, professionally managed solution. Hum added that the launch is part of SEI's strategy to broaden access to institutional investment capabilities at scale.
The launch reflects a broader industry push to bring private markets strategies into the wealth channel, as private credit and other alternatives are increasingly distributed to individual investors seeking to expand their allocations.
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