Form D · Private Equity Fund
CAF (Offshore) Upper Fund, L.P.
Washington, DC · CIK 0002044849
Offering snapshot reported Dec 5, 2025 · SEC filing
- Reported sold
- $165M Indefinite offering
- Investors reported
- 2 Form D · investor count
- Minimum accepted
- $0 Reported outside-investor minimum
- First sale
- Nov 22, 2024 As reported in this filing
What changed?
Latest filing versus its linked predecessor, where available.
- Reported investors0 → 2
Filing history
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| Filed | Filing type | Reported sold | Change vs linked filing | Investors | Source |
|---|---|---|---|---|---|
| Dec 5, 2025 | Amendment | $165,000,000 | No comparison | 2 | SEC filing |
| Nov 22, 2024 | Initial | Yet to sell | No comparison | 0 | SEC filing |
Offering details
- Securities
- Pooled investment fund, Other
- Exemptions
- 06b, 3C, 3C.7
- Duration over one year
- Yes
- Business combination
- No
- Sales commissions
- $0 (estimated)
- Finders' fees
- $0 (estimated)
- Form D file number
- 021-530288
Aggregate capital commitments to the CAF complex, including the CAF onshore upper fund, Carlyle Asset Finance and general partner commitments are equal to $257,230,000 as of November 25, 2025.
Limited Partnership Interests
Certain employees of an affiliate of the GP ("Carlyle") receive compensation in part based on the capital raised; such compensation is borne by Carlyle, not the Fund's investors.
Sales compensation recipients
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| Recipient | CRD | Associated broker-dealer |
|---|---|---|
| Not Applicable | None | TCG CAPITAL MARKETS L.L.C. · CRD 000291767 |
Source: Form D, filed Dec 5, 2025. Minimum accepted may differ from a standard advertised minimum.
Fund connections
No confirmed ADV fund connection is available for this issuer.
People & organizations
Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.
| Name | Reported role |
|---|---|
| Caf General Partner, L.P. | Promoter |
| Caf L.L.C. | Promoter |
| Caf Lux General Partner, S.A R.L. | Promoter |
| Gael Castex | Executive |
| Timothy Fetter | Executive |
| Isabelle Li | Executive |
| Gwendoline Licata | Executive |
| David Lobe | Executive |
| Kristen Newville | Executive |
| Christina Von Poelnitz | Executive |
Issuer details
Industry: Pooled Investment Fund (See others in industry)
Address:
The Carlyle Group 1001 Pennsylvania Ave., N.W., Ste. 220 S
Washington, DC, 20004
Washington, DC, 20004