Carlyle Private Equity Partners Fund, L.P.

Summary of Key Risk Factors

CPEP is offered pursuant to private placement. This website is neither an offer to sell nor a solicitation of an offer to buy any security and none should be inferred.

Complete information on the risks associated with CPEP are set out in CPEP’s registration statement on Form 10, annual report for the most recent fiscal year, and any such updated factors included in CPEP’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov.

The investment professionals identified above are not solely dedicated to CPEP or any particular Carlyle business and will perform work for other Carlyle business units. There can be no assurance that such professionals will be associated with a fund throughout the life of a fund.

Certain information contained on or available from this website has been obtained from sources outside Carlyle, which in certain cases have not been updated through the date hereof. While such information is believed to be reliable for purposes used herein, no representations are made as to the accuracy or completeness thereof and none of Carlyle, its funds, nor any of their affiliates takes any responsibility for, and has not independently verified, any such information.

Certain information on this website may constitute “forward-looking statements,” or statements of opinion or intention which can often be identified by the use of forward-looking terminology such as “may,” “can,” “will,” “would,” “should,” “seek,” “expect,” “anticipate,” “forecast,” “project,” “estimate,” “potential,” “intend,” “continue,” “target,” “plan,” or “believe,” or the negatives thereof, or other variations thereon or comparable terminology. These reflect Carlyle’s current views with respect to, among other things, the operations and performance of CPEP’s business. Due to changes in circumstances or various risks and uncertainties, you should not rely on such forward-looking statements, and no representation or warranty is made as to future events or results or such forward-looking statements. These statements are subject to risks, uncertainties and assumptions, including those described under the section entitled “Risk Factors” in CPEP’s registration statement on Form 10 and annual report for the most recent fiscal year and any such updated factors included in its periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this website (and in CPEP’s filings with the SEC). Carlyle undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

This material is provided for general and educational purposes only, is not intended to provide legal or tax advice, and is not for use to avoid any penalties that may be imposed under U.S. federal tax laws. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.

Carlyle Investment Management L.L.C. (the “Investment Advisor”) is registered as an investment adviser with the SEC under the Investment Advisers Act of 1940. TCG Capital Markets L.L.C. (“TCG Capital Markets”) is a registered broker-dealer with the SEC and a FINRA member and is the distributor of CPEP. The Investment Advisor and TCG Capital Markets are affiliates and are part of The Carlyle Group (Nasdaq:CG).