diff --git a/include/jemalloc/internal/jemalloc_internal_externs.h b/include/jemalloc/internal/jemalloc_internal_externs.h
index 166c91d0..8054ad9c 100644
--- a/include/jemalloc/internal/jemalloc_internal_externs.h
+++ b/include/jemalloc/internal/jemalloc_internal_externs.h
@@ -30,6 +30,7 @@ extern bool opt_xmalloc;
 extern bool opt_zero;
 extern unsigned opt_narenas;
 extern zero_realloc_action_t opt_zero_realloc_action;
+extern malloc_init_t malloc_init_state;
 extern const char *zero_realloc_mode_names[];
 extern atomic_zu_t zero_realloc_count;
 
@@ -64,7 +65,7 @@ size_t batch_alloc(void **ptrs, size_t num, size_t size, int flags);
 void jemalloc_prefork(void);
 void jemalloc_postfork_parent(void);
 void jemalloc_postfork_child(void);
-bool malloc_initialized(void);
 void je_sdallocx_noflags(void *ptr, size_t size);
+void *malloc_default(size_t size);
 
 #endif /* JEMALLOC_INTERNAL_EXTERNS_H */
diff --git a/include/jemalloc/internal/jemalloc_internal_inlines_c.h b/include/jemalloc/internal/jemalloc_internal_inlines_c.h
index 0a5ffba5..b0868b7d 100644
--- a/include/jemalloc/internal/jemalloc_internal_inlines_c.h
+++ b/include/jemalloc/internal/jemalloc_internal_inlines_c.h
@@ -3,7 +3,9 @@
 
 #include "jemalloc/internal/hook.h"
 #include "jemalloc/internal/jemalloc_internal_types.h"
+#include "jemalloc/internal/log.h"
 #include "jemalloc/internal/sz.h"
+#include "jemalloc/internal/thread_event.h"
 #include "jemalloc/internal/witness.h"
 
 /*
@@ -219,4 +221,120 @@ ixalloc(tsdn_t *tsdn, void *ptr, size_t oldsize, size_t size, size_t extra,
 	    newsize);
 }
 
+JEMALLOC_ALWAYS_INLINE void
+fastpath_success_finish(tsd_t *tsd, uint64_t allocated_after,
+    cache_bin_t *bin, void *ret) {
+	thread_allocated_set(tsd, allocated_after);
+	if (config_stats) {
+		bin->tstats.nrequests++;
+	}
+
+	LOG("core.malloc.exit", "result: %p", ret);
+}
+
+JEMALLOC_ALWAYS_INLINE bool
+malloc_initialized(void) {
+	return (malloc_init_state == malloc_init_initialized);
+}
+
+/*
+ * malloc() fastpath.  Included here so that we can inline it into operator new;
+ * function call overhead there is non-negligible as a fraction of total CPU in
+ * allocation-heavy C++ programs.  We take the fallback alloc to allow malloc
+ * (which can return NULL) to differ in its behavior from operator new (which
+ * can't).  It matches the signature of malloc / operator new so that we can
+ * tail-call the fallback allocator, allowing us to avoid setting up the call
+ * frame in the common case.
+ *
+ * Fastpath assumes size <= SC_LOOKUP_MAXCLASS, and that we hit
+ * tcache.  If either of these is false, we tail-call to the slowpath,
+ * malloc_default().  Tail-calling is used to avoid any caller-saved
+ * registers.
+ *
+ * fastpath supports ticker and profiling, both of which will also
+ * tail-call to the slowpath if they fire.
+ */
+JEMALLOC_ALWAYS_INLINE void *
+imalloc_fastpath(size_t size, void *(fallback_alloc)(size_t)) {
+	LOG("core.malloc.entry", "size: %zu", size);
+	if (tsd_get_allocates() && unlikely(!malloc_initialized())) {
+		return fallback_alloc(size);
+	}
+
+	tsd_t *tsd = tsd_get(false);
+	if (unlikely((size > SC_LOOKUP_MAXCLASS) || tsd == NULL)) {
+		return fallback_alloc(size);
+	}
+	/*
+	 * The code below till the branch checking the next_event threshold may
+	 * execute before malloc_init(), in which case the threshold is 0 to
+	 * trigger slow path and initialization.
+	 *
+	 * Note that when uninitialized, only the fast-path variants of the sz /
+	 * tsd facilities may be called.
+	 */
+	szind_t ind;
+	/*
+	 * The thread_allocated counter in tsd serves as a general purpose
+	 * accumulator for bytes of allocation to trigger different types of
+	 * events.  usize is always needed to advance thread_allocated, though
+	 * it's not always needed in the core allocation logic.
+	 */
+	size_t usize;
+	sz_size2index_usize_fastpath(size, &ind, &usize);
+	/* Fast path relies on size being a bin. */
+	assert(ind < SC_NBINS);
+	assert((SC_LOOKUP_MAXCLASS < SC_SMALL_MAXCLASS) &&
+	    (size <= SC_SMALL_MAXCLASS));
+
+	uint64_t allocated, threshold;
+	te_malloc_fastpath_ctx(tsd, &allocated, &threshold);
+	uint64_t allocated_after = allocated + usize;
+	/*
+	 * The ind and usize might be uninitialized (or partially) before
+	 * malloc_init().  The assertions check for: 1) full correctness (usize
+	 * & ind) when initialized; and 2) guaranteed slow-path (threshold == 0)
+	 * when !initialized.
+	 */
+	if (!malloc_initialized()) {
+		assert(threshold == 0);
+	} else {
+		assert(ind == sz_size2index(size));
+		assert(usize > 0 && usize == sz_index2size(ind));
+	}
+	/*
+	 * Check for events and tsd non-nominal (fast_threshold will be set to
+	 * 0) in a single branch.
+	 */
+	if (unlikely(allocated_after >= threshold)) {
+		return fallback_alloc(size);
+	}
+	assert(tsd_fast(tsd));
+
+	tcache_t *tcache = tsd_tcachep_get(tsd);
+	assert(tcache == tcache_get(tsd));
+	cache_bin_t *bin = &tcache->bins[ind];
+	bool tcache_success;
+	void *ret;
+
+	/*
+	 * We split up the code this way so that redundant low-water
+	 * computation doesn't happen on the (more common) case in which we
+	 * don't touch the low water mark.  The compiler won't do this
+	 * duplication on its own.
+	 */
+	ret = cache_bin_alloc_easy(bin, &tcache_success);
+	if (tcache_success) {
+		fastpath_success_finish(tsd, allocated_after, bin, ret);
+		return ret;
+	}
+	ret = cache_bin_alloc(bin, &tcache_success);
+	if (tcache_success) {
+		fastpath_success_finish(tsd, allocated_after, bin, ret);
+		return ret;
+	}
+
+	return fallback_alloc(size);
+}
+
 #endif /* JEMALLOC_INTERNAL_INLINES_C_H */
diff --git a/include/jemalloc/internal/jemalloc_internal_types.h b/include/jemalloc/internal/jemalloc_internal_types.h
index 1ce0f3aa..61c1f31a 100644
--- a/include/jemalloc/internal/jemalloc_internal_types.h
+++ b/include/jemalloc/internal/jemalloc_internal_types.h
@@ -20,6 +20,14 @@ typedef enum zero_realloc_action_e zero_realloc_action_t;
 /* Signature of write callback. */
 typedef void (write_cb_t)(void *, const char *);
 
+enum malloc_init_e {
+	malloc_init_uninitialized	= 3,
+	malloc_init_a0_initialized	= 2,
+	malloc_init_recursible		= 1,
+	malloc_init_initialized		= 0 /* Common case --> jnz. */
+};
+typedef enum malloc_init_e malloc_init_t;
+
 /*
  * Flags bits:
  *
diff --git a/src/jemalloc.c b/src/jemalloc.c
index c2c75fa5..dc3c98b6 100644
--- a/src/jemalloc.c
+++ b/src/jemalloc.c
@@ -169,13 +169,7 @@ static arena_t		*a0; /* arenas[0]. */
 unsigned		narenas_auto;
 unsigned		manual_arena_base;
 
-typedef enum {
-	malloc_init_uninitialized	= 3,
-	malloc_init_a0_initialized	= 2,
-	malloc_init_recursible		= 1,
-	malloc_init_initialized		= 0 /* Common case --> jnz. */
-} malloc_init_t;
-static malloc_init_t	malloc_init_state = malloc_init_uninitialized;
+malloc_init_t malloc_init_state = malloc_init_uninitialized;
 
 /* False should be the common case.  Set to true to trigger initialization. */
 bool			malloc_slow = true;
@@ -280,11 +274,6 @@ static bool	malloc_init_hard(void);
  * Begin miscellaneous support functions.
  */
 
-bool
-malloc_initialized(void) {
-	return (malloc_init_state == malloc_init_initialized);
-}
-
 JEMALLOC_ALWAYS_INLINE bool
 malloc_init_a0(void) {
 	if (unlikely(malloc_init_state == malloc_init_uninitialized)) {
@@ -2597,112 +2586,11 @@ malloc_default(size_t size) {
  * Begin malloc(3)-compatible functions.
  */
 
-JEMALLOC_ALWAYS_INLINE void
-fastpath_success_finish(tsd_t *tsd, uint64_t allocated_after,
-    cache_bin_t *bin, void *ret) {
-	thread_allocated_set(tsd, allocated_after);
-	if (config_stats) {
-		bin->tstats.nrequests++;
-	}
-
-	LOG("core.malloc.exit", "result: %p", ret);
-}
-
-/*
- * malloc() fastpath.
- *
- * Fastpath assumes size <= SC_LOOKUP_MAXCLASS, and that we hit
- * tcache.  If either of these is false, we tail-call to the slowpath,
- * malloc_default().  Tail-calling is used to avoid any caller-saved
- * registers.
- *
- * fastpath supports ticker and profiling, both of which will also
- * tail-call to the slowpath if they fire.
- */
 JEMALLOC_EXPORT JEMALLOC_ALLOCATOR JEMALLOC_RESTRICT_RETURN
 void JEMALLOC_NOTHROW *
 JEMALLOC_ATTR(malloc) JEMALLOC_ALLOC_SIZE(1)
 je_malloc(size_t size) {
-	LOG("core.malloc.entry", "size: %zu", size);
-
-	if (tsd_get_allocates() && unlikely(!malloc_initialized())) {
-		return malloc_default(size);
-	}
-
-	tsd_t *tsd = tsd_get(false);
-	if (unlikely((size > SC_LOOKUP_MAXCLASS) || tsd == NULL)) {
-		return malloc_default(size);
-	}
-	/*
-	 * The code below till the branch checking the next_event threshold may
-	 * execute before malloc_init(), in which case the threshold is 0 to
-	 * trigger slow path and initialization.
-	 *
-	 * Note that when uninitialized, only the fast-path variants of the sz /
-	 * tsd facilities may be called.
-	 */
-	szind_t ind;
-	/*
-	 * The thread_allocated counter in tsd serves as a general purpose
-	 * accumulator for bytes of allocation to trigger different types of
-	 * events.  usize is always needed to advance thread_allocated, though
-	 * it's not always needed in the core allocation logic.
-	 */
-	size_t usize;
-	sz_size2index_usize_fastpath(size, &ind, &usize);
-	/* Fast path relies on size being a bin. */
-	assert(ind < SC_NBINS);
-	assert((SC_LOOKUP_MAXCLASS < SC_SMALL_MAXCLASS) &&
-	    (size <= SC_SMALL_MAXCLASS));
-
-	uint64_t allocated, threshold;
-	te_malloc_fastpath_ctx(tsd, &allocated, &threshold);
-	uint64_t allocated_after = allocated + usize;
-	/*
-	 * The ind and usize might be uninitialized (or partially) before
-	 * malloc_init().  The assertions check for: 1) full correctness (usize
-	 * & ind) when initialized; and 2) guaranteed slow-path (threshold == 0)
-	 * when !initialized.
-	 */
-	if (!malloc_initialized()) {
-		assert(threshold == 0);
-	} else {
-		assert(ind == sz_size2index(size));
-		assert(usize > 0 && usize == sz_index2size(ind));
-	}
-	/*
-	 * Check for events and tsd non-nominal (fast_threshold will be set to
-	 * 0) in a single branch.
-	 */
-	if (unlikely(allocated_after >= threshold)) {
-		return malloc_default(size);
-	}
-	assert(tsd_fast(tsd));
-
-	tcache_t *tcache = tcache_get_from_ind(tsd, TCACHE_IND_AUTOMATIC,
-	    /* slow */ false, /* is_alloc */ true);
-	cache_bin_t *bin = &tcache->bins[ind];
-	bool tcache_success;
-	void *ret;
-
-	/*
-	 * We split up the code this way so that redundant low-water
-	 * computation doesn't happen on the (more common) case in which we
-	 * don't touch the low water mark.  The compiler won't do this
-	 * duplication on its own.
-	 */
-	ret = cache_bin_alloc_easy(bin, &tcache_success);
-	if (tcache_success) {
-		fastpath_success_finish(tsd, allocated_after, bin, ret);
-		return ret;
-	}
-	ret = cache_bin_alloc(bin, &tcache_success);
-	if (tcache_success) {
-		fastpath_success_finish(tsd, allocated_after, bin, ret);
-		return ret;
-	}
-
-	return malloc_default(size);
+	return imalloc_fastpath(size, &malloc_default);
 }
 
 JEMALLOC_EXPORT int JEMALLOC_NOTHROW
diff --git a/src/jemalloc_cpp.cpp b/src/jemalloc_cpp.cpp
index 6959b27f..47ba92a0 100644
--- a/src/jemalloc_cpp.cpp
+++ b/src/jemalloc_cpp.cpp
@@ -86,10 +86,10 @@ handleOOM(std::size_t size, bool nothrow) {
 }
 
 template <bool IsNoExcept>
-JEMALLOC_ALWAYS_INLINE
-void *
-newImpl(std::size_t size) noexcept(IsNoExcept) {
-	void *ptr = je_malloc(size);
+JEMALLOC_NOINLINE
+static void *
+fallback_impl(std::size_t size) noexcept(IsNoExcept) {
+	void *ptr = malloc_default(size);
 	if (likely(ptr != nullptr)) {
 		return ptr;
 	}
@@ -97,6 +97,13 @@ newImpl(std::size_t size) noexcept(IsNoExcept) {
 	return handleOOM(size, IsNoExcept);
 }
 
+template <bool IsNoExcept>
+JEMALLOC_ALWAYS_INLINE
+void *
+newImpl(std::size_t size) noexcept(IsNoExcept) {
+	return imalloc_fastpath(size, &fallback_impl<IsNoExcept>);
+}
+
 void *
 operator new(std::size_t size) {
 	return newImpl<false>(size);