Item 3.02. Unregistered Sales of Equity Securities.
On November 3, 2025, Carlyle Private Equity Partners, L.P. (the “Fund”) sold unregistered limited partnership units (the
“Units”) to certain investors for aggregate consideration of approximately $5.6 million.
The following table provides details on the Units sold to investors by the Fund:
| | | | |
| | Number of Units Sold(1,2) | | Aggregate Consideration(2) |
| | | | |
| | | | |
__________
(1)The number of Units sold by the Fund was finalized on November 26, 2025, following the calculation of the Fund’s Transactional Net Asset Value
(“Transactional NAV”) as of October 31, 2025 per Class A-I, Class A-S and Class C Unit. The purchase price for each Unit sold by the Fund on
November 3, 2025, was equal to the Transactional NAV per Unit for the applicable class as of October 31, 2025. Since Class E-I Units had not yet been
issued as of such date, the Transactional NAV for Class E-I Units was equal to the Transactional NAV of Class A-I Units. Refer to Item 8.01 below for
information on the Fund’s Transactional NAV.
(2)Unit and dollar amounts are rounded to the nearest whole number.
(3)Represents Class C Units purchased by an affiliate of the Fund’s general partner, CPEP GP, LLC (the “General Partner”).
The offer and sale of the Units were made as part of the Fund’s continuous private offering and were exempt from the
registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D
promulgated thereunder. The Units were sold to investors, including through CPEP Feeder, L.P. (the “Feeder”), a Delaware
limited partnership for certain investors with particular tax characteristics, such as certain U.S. tax-exempt investors and certain
non-U.S. investors.
Item 8.01. Other Events.
Transactional Net Asset Value
The Fund calculates the Transactional NAV for purposes of establishing the price at which transactions in the respective Units
are made. A description of the Fund’s valuation process is included under “Calculation of Net Asset Value” within Item 9.
Market Price of and Dividends on the Registrant’s Common Equity and Related Limited Partner Matters of the Fund’s
2025 (the “Registration Statement”). Transactional NAV is based on the month-end values of the Fund’s investments and other
assets (including cash and cash equivalents) and the deduction of any respective liabilities, including certain fees and expenses
(such as the Incentive Allocation and Management Fee, as applicable to the respective class), in all cases as determined in
accordance with the valuation policy that has been approved by the Fund’s board of directors. During the first twelve months
following the Initial Closing on October 1, 2025, the Investment Advisor is limiting the Fund’s Specified Expenses to 0.60% of
net assets (annualized). To achieve this, the Investment Advisor may waive a portion of its management fees and/or absorb or
reimburse certain Fund expenses as needed. For the purposes of calculating Transactional NAV, the Expense Support paid by
the Investment Advisor will be reflected as a reduction to Transactional NAV in the month the Fund reimburses the Investment
Advisor for such costs, provided that any reimbursement during the 12-month support period does not cause Specified
Expenses to exceed the 0.60% limit; after that period, the limit no longer applies. Servicing Fees, as applicable, are recognized
as a reduction to Transactional NAV on a monthly basis as such fees are paid. Definitions of Specified Expenses and Expense
Support are included within Item 2. Financial Information of the Registration Statement. Certain contingent tax liabilities may
not be recognized as a reduction to Transactional NAV if the Fund’s general partner reasonably expects such liabilities will not
be recognized upon divestment of the underlying investment. Transactional NAV per Unit may differ from the Fund’s net asset
value as determined in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”).