Pensioenfonds Horeca appoints AlpInvest as PE manager

Ellie Pullen
24 November 2014

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Pensioenfonds Horeca & Catering, the Dutch hospitality and catering industry pension fund, has appointed AlpInvest Partners as its private equity programme manager.

Horeca expects around €500m to be committed to the programme between 2014-2018.

Horeca is one of the Netherlands' 10 largest pension funds in terms of participants and employers. The firm has 1 million participants of around 36,000 employers and had €6bn in assets under management as of September 2014.

AlpInvest was acquired by Carlyle in January 2011, with the firm taking a 60% stake as part of a joint venture alongside AlpInvest's management. In June last year, Carlyle agreed to acquire the remaining 40% of the firm to gain full ownership. The deal valued AlpInvest at $219m.

AlpInvest has more than €37bn in assets under management. In October last year, the firm raised $4.2bn for its secondaries programme. Of this amount, $750m went towards the firm's AlpInvest Secondaries Fund V vehicle, meaning the fund closed well above its target of $500m.