Carlyle to gain full control of AlpInvest

Carlyle will finance the deal by issuing 2.8 million shares in addition to a €4m cash payment, the group stated in a regulatory filing. This would value the 40% stake at around $88m and the whole of AlpInvest at around $219m. The deal is expected to close on 1 July 2013.

Carlyle acquired a 60% stake in AlpInvest as part of a joint venture with AlpInvest's management team in January 2011. The management team will continue to exercise independent investment authority following the deal, Carlyle stated in the filing, adding that existing arrangements regarding the allocation of carried interest would not be affected by the transaction.

AlpInvest is one of the world's largest private equity investors, managing more than €33bn of investments in funds-of-funds, co-investments and secondaries.

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• Topics
• LPs
• Carlyle Group
• AlpInvest