AlpInvest Co-Investment Fund VIII closes on $3.5bn

Alessia Argentieri
22 April 2021

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AlpInvest Partners has held a $3.5bn final close for its eighth co-investment vehicle, AlpInvest Co-Investment Fund VIII (ACF VIII), exceeding its $3bn target.

"This latest fundraise underlines AlpInvest's strong performance, and the appetite for our differentiated co-sponsored approach – acting as a partner in active deal settings – which is built on long-standing relationships with buyout fund managers," said Rob de Jong, managing director and co-head of co-investments at AlpInvest. "We believe that we are well-positioned to provide investors with the type of high-quality co-sponsor opportunities and diversification that they are seeking."

AlpInvest is a subsidiary of Carlyle Group, and has more than $55bn in assets under management.

The firm has committed around $12bn to 280 equity co-investments over the past 20 years and currently has a dedicated 27-person co-investment team based in New York, Amsterdam, Hong Kong, and San Francisco.

At the end of last year, the firm closed its latest secondaries fund, AlpInvest Secondaries Program VII, surpassing its $8bn target and reaching its hard-cap of $9bn. AlpInvest also raised an additional $1.2bn in committed co-investment vehicles.

Investors
The fund's LP base includes more than 120 new and existing investors, primarily public pension funds, corporate pension funds, financial institutions, asset managers, foundations and family offices. They originate from more than 35 countries spanning North America, Latin America, Europe, the Middle East, Africa and the Asia-Pacific region.

Investments
AlpInvest Secondaries Program VII acquires positions in existing private equity funds in the secondaries market through both the acquisition of fund interests and GP-centered investments.

ACF VIII will seek to invest alongside established GPs in private equity buyouts and growth capital transactions across a variety of sectors, globally.