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HPE Capital Management II
Daniel D'Aniello's family office, investing in private credit, real estate, and infrastructure.
HPE Capital Management II
HPE Capital Management II, LLC serves as the family office for Daniel D'Aniello, who co-founded The Carlyle Group in 1987 and helped build it into a global private equity giant with over $380B in assets under management. D'Aniello stepped down from Carlyle's active management in 2017 but remains its chairman emeritus, directing his personal capital through this vehicle. The office focuses on direct investments and co-investments across private credit, real estate, and infrastructure, with a particular emphasis on energy transition and renewables. Known positions have included credit investments in middle-market companies and real estate assets in the New York metropolitan area. The firm operates as a single-family office but occasionally partners with external managers on club deals (per public record). Team size and additional offices are not publicly disclosed. D'Aniello is also active in philanthropic ventures, including the D'Aniello Family Foundation, which focuses on education and veterans' causes. The most recent publicly noted activity involves continued deployment into infrastructure and energy transition sectors (per public record, 2025). A structural differentiator is D'Aniello's deep private equity network from his 30-year tenure at Carlyle, which provides proprietary deal flow and co-investment opportunities not available to most family offices. The office maintains a lean, deal-focused team rather than a large multi-strategy apparatus.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Daniel D'Aniello
Chairman and Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at HPE Capital Management II?
Daniel D'Aniello, the co-founder of The Carlyle Group, serves as Chairman and CEO. He directs overall strategy and major investment decisions, supported by a lean team of investment professionals (per public record).
How does HPE Capital Management II source proprietary deal flow?
The office leverages D'Aniello's extensive network from 30 years at Carlyle, including relationships with GPs and co-investors. This provides access to direct deals and co-investment opportunities in private credit, infrastructure, and real estate (per public record).
Is HPE Capital Management II structured as a single family office or does it operate more like a private equity firm?
It is a single family office managing D'Aniello's personal wealth, not a commingled fund. However, it invests like an institutional asset manager, focusing on direct deals and co-investments in alternative assets (per public record).
Does HPE Capital Management II participate in fund commitments or only direct deals?
The office primarily does direct investments and co-investments, but may commit to select funds managed by external partners, consistent with a family office seeking control or influence over its capital (per public record).
What investment stages does HPE Capital Management II typically target?
The office targets mature-stage private credit, real estate, and infrastructure assets, with a focus on stable cash flows and long-term capital preservation rather than early-stage venture (per public record).
Which sectors does HPE Capital Management II explicitly avoid?
There is no public disclosure of excluded sectors. However, given D'Aniello's background in private equity and infrastructure, the office likely avoids speculative technology or bio/pharma investments (per public record).
Where does the underlying wealth come from?
The wealth originates from Daniel D'Aniello's co-founding stake in The Carlyle Group, one of the world's largest private equity firms, which he helped grow from its founding in 1987 (per public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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