AlpInvest Partners, the private equity fund of funds arm of The Carlyle Group, has held a final close of AlpInvest Secondaries Fund V (ASF V) at its hard cap of $750 million and above its original $500 million target.
With the closing, AlpInvest Secondaries Program (ASP) now has $4.2 billion of capital dedicated to the secondaries market. The ASP is a dedicated secondaries program that has acquired positions in existing private equity funds and interests in privately held companies since 2012.
“The new commitments to the ASP allow us to invest further in attractive opportunities within the secondaries arena for our recently magnified investor base. This is a testament to the quality of our people, our investment strategy and robust track-record,” said Volkert Doeksen, Chairman of AlpInvest.
A total of 18 new investors committed capital to ASF V, including sovereign wealth funds, public pensions, corporate pensions, insurance companies, asset managers, and foundations located in North America, Latin America, Europe, Africa, the Middle East and Asia-Pacific.
“The addition of 18 new investors and $750 million in commitments to the overall ASP is a great example of our success in providing investment and liquidity solutions to clients. The closing of ASF V is an important step in expanding the investor base for AlpInvest, and we are excited to have the opportunity to deliver for new and existing investors,” said Jacques Chappuis, Managing Director and Head of Carlyle Solutions.
AlpInvest has committed $9.1 billion through 84 transactions in secondaries in the past 11 years and currently has a dedicated 22-person team based in New York, Amsterdam and Hong Kong.
AlpInvest Partners is one of the largest private equity investors in the world, with approximately $48 billion of assets under management as of June 30, 2013. AlpInvest’s activities cover a range of private equity investing, including primary fund commitments, secondary purchases and co-Investments. The firm’s investments span the spectrum of private equity: buyouts, venture capital, growth capital, mezzanine, and distressed. The firm is based in Amsterdam with additional offices in New York, Hong Kong, and London (www.alpinvest.com).
The Carlyle Group invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. The Carlyle Group employs 1,400 people in 34 offices across six continents and is based in Washington, DC (www.carlyle.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-16-13