Global investment firm Carlyle and AssetMark, a wealth management platform for independent financial advisors, have announced a strategic partnership aimed at expanding access to private markets for advisors. This move is part of AssetMark’s broader initiative to include private market offerings alongside other asset managers such as Apollo, KKR, and StepStone.
The partnership will leverage Carlyle’s expertise in global private markets and AssetMark’s integrated wealth platform. The goal is to provide institutional-quality investment opportunities to a wider range of investors by making differentiated strategies more accessible through the advisor channel.
As an initial step in this collaboration, the Carlyle Tactical Private Credit Fund (CTAC) will be the first Carlyle strategy available on AssetMark’s platform. The fund is designed to offer diversified exposure to private credit investments. A portion of AssetMark’s discretionary assets and unified managed accounts will be allocated to private markets through this new program, giving advisors additional portfolio options for their clients.
“This collaboration highlights the growing role of private markets in the evolving global wealth landscape,” said Shane Clifford, Head of Global Wealth at Carlyle. “Advisors are seeking new ways to help clients build more resilient portfolios, and thoughtful partnerships like this make institutional-quality solutions more accessible and actionable. We look forward to working with AssetMark as they continue to create new opportunities for advisors and investors alike.”
“By partnering with Carlyle, AssetMark is removing traditional barriers to private markets – making access practical, scalable, and seamlessly integrated into our unified platform,” said David McNatt, AssetMark EVP and Chief Wealth Solutions Officer. “This empowers advisors to deliver differentiated, strategic advice that preserves and grows client wealth.”
Carlyle manages $474 billion in assets as of September 30, 2025, operating across three main segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. The firm employs over 2,400 people in 27 offices worldwide.
AssetMark serves more than 10,500 financial advisors and 318,000 investor households with over $148 billion in platform assets as of June 30, 2025. Founded in 1996 and registered with the U.S. Securities and Exchange Commission as an investment adviser, AssetMark provides planning tools and operational capabilities aimed at improving advisor productivity and client outcomes.
Investors are cautioned that investing in CTAC involves significant risks including limited liquidity; shares are not listed or traded on any stock exchange but can be repurchased quarterly under certain conditions.
The fund is distributed by Foreside Fund Services LLC.
