Carlyle AlpInvest, a subsidiary of Carlyle, has provided $600m in preferred equity financing for Horizon II, a private equity programme run by Federated Hermes Private Equity.
Horizon II is the second in a series of three, $1bn private equity mandates awarded to Federated Hermes by the BT Pension Scheme (BTPS), managed by Brightwell. The programme began investing in 2019 and holds a diversified global portfolio of primary funds and co-investments focused on the lower and mid-market buyout space.
“This financing showcases how AlpInvest is utilizing its Portfolio Finance capabilities to deliver targeted, innovative solutions for institutional investors. LP-interest financings are not only complementing traditional secondaries – they are expanding the toolkit available to sophisticated counterparties seeking efficient and strategic liquidity,” says Michael Hacker, Partner and Global Head of Portfolio Finance at AlpInvest.
AlpInvest recently raised over $4bn for its Portfolio Finance platform, which delivers tailored financing solutions to private equity funds, general partners, and limited partners.
Of this total, $3.2bn was raised for AlpInvest Strategic Portfolio Finance Fund II (ASPF II), inclusive of parallel SMAs and co-investments.
