AlpInvest Partners, the private equity fund of funds arm of The Carlyle Group's Solutions platform, has now raised USD4.2 billion through its Alpinvest Secondaries Program (ASP), following the closing of AlpInvest Secondaries Fund V (ASF V) at its hard cap of USD750 million.
ASP is a dedicated Secondaries program that has acquired positions in existing private equity funds and interests in privately held companies since 2012.
ASP consists of (i) commitments from AlpInvest's cornerstone investors APG and PGGM, (ii) managed accounts with dedicated allocations to secondaries and (iii) the ASF V, a commingled fund with commitments of USD750 million, which closed on October 14th, reaching its hard cap and exceeding its USD500 million target. A total of 18 new investors committed capital to the 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.
AlpInvest has committed USD9.1 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.
Jacques Chappuis, Head of Carlyle Solutions, says: "The addition of 18 new investors and USD750 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."
Volkert Doeksen, Chairman of AlpInvest, says: "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."
