AlpInvest registers Co-investment Fund IX

Harriet Matthews
24 October 2022

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Private equity manager Alpinvest has made a legal filing for Alpinvest Co-investment Fund IX (ACF IX), a year and a half after the final close of the predecessor vehicle in the strategy.

The vehicle was listed with the Luxembourg registry earlier in October 2022.

AlpInvest declined to comment.

The GP held a final close for AlpInvest Co-Investment Fund VIII (ACF VIII) in April 2021 on USD 3.5bn, surpassing its USD 3bn target. The vehicle was backed by a range of investors, including public pension funds, corporate pension funds, financial institutions, asset managers, foundations and family offices spanning 35 countries, according to Unquote Data.

In May 2021, AlpInvest announced that it had secured an ESG-linked credit facility for ACF VIII, as reported.

The co-investment strategy sees AlpInvest participate in buyout and growth equity deals with established GPs. According to its website, the GP transacts on just 10% of the dealflow that it sources and 80% of its deals are co-sponsored.

The GP also manages strategies including primary fund investments and secondaries. Its latest vehicle in the series, Alpinvest Secondaries Fund VII, held a final close in December 2020 on USD 9bn, surpassing its USD 8bn target. Its secondaries division led a USD 708m continuation fund raised by Deutsche Private Equity for IT businesses Eraneos and Valantic earlier this month, as reported.

AlpInvest is headquartered in Amsterdam and was acquired by the Carlyle Group in 2011, having previously invested solely on behalf of Dutch pension funds APG and PGGM.

According to its website, the firm has amassed relationships with more than 325 GPs and more than 450 investors aince its formation. It has a team of more than 200 across five offices. The GP has committed more than USD 85bn since its inception and has AUM of more than USD 65bn.