AlpInvest's Royce leaves after six years

Royce has been with the company since 2007. He joined following a stint at Allianz Private Equity Partners, where he led US investment activities.

"For me, it was a natural time to focus more on investing than on managing and marketing," Royce told unquote". "My focus is to remain within private equity. I am looking to help either a family office build out their programme or a new European entrant who wants to build scale in the US market.

"It's more about finding a place where I can add value, rather than maximizing comp or title."

Prior to Allianz, Royce has worked at GE Equity, advisory firm McKinsey, Dillon Read and Credit Suisse First Boston. Overall, he has spent approximately 20 years working in the private equity industry.

Royce's resignation comes a few months after Carlyle Group took full control of AlpInvest. The firm initially obtained a 60% stake in the fund-of-funds manager in January 2011 as part of a joint venture that saw AlpInvest wholly acquired. In June, Carlyle gained full ownership of AlpInvest after acquiring the remaining 40% shareholding it did not already own. The 40% stake was valued at approximately $88m, while AlpInvest as a whole was valued at $219m.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• People
• AlpInvest Partners N.V.
• Carlyle Group