AlpInvest raises $4.2bn for secondaries

AlpIvest Secondaries Fund V (ASF V) closed well above its original target of $500m.

The successful close comes after Carlyle took full control of the Amsterdam-based fund-of-funds, following its purchase of the remaining 40% stake in June this year. Carlyle originally acquired a 60% stake in the firm as part of a joint venture with AlpInvest's management team in January 2011.

Investors
AlpInvest's secondaries programme received commitments from its cornerstone investors, Dutch pension funds APG and PGGM. AlpInvest's most recently closed fund, ASF V, also feeds into the programme.

ASF V secured commitments from 18 new investors, including sovereign wealth funds, public pensions, corporate pensions, insurance companies, asset managers and foundations. The investors hailed from the US, Latin America, Europe, Africa, the Middle East and the Asia-Pacific region.

Investments
The fund will seek to buy secondary stakes in private equity funds globally, and will consider a range of fund types.

People
Jacques Chappuis is head of Carlyle Solutions. Volkert Doeksen is chairman of AlpInvest.

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• Topics
• Secondaries
• Carlyle Group
• AlpInvest
• Netherlands