02:39 PM EDT, 06/26/2025 (MT Newswires) -- Carlyle (CG) and UBS's (UBS) Unified Global Alternatives business said Thursday they are collaborating on an open-ended private equity secondaries initiative for wealth management clients.

New Carlyle funds, including Carlyle AlpInvest Private Markets Secondaries Fund, aim to give investors the option to collectively redeem as much as 5% each quarter and target to raise new money each month, Bloomberg reported on the same day, citing a draft prospectus.

Shares of Carlyle rose 2.4%, while UBS added 2.6% in recent trading.

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