Justine Gordon leaves Carlyle’s AlpInvest

The firm is also giving up its plans to raise a dedicated energy and infrastructure secondaries fund, instead rolling its efforts into its broader secondaries business.

Less than a year and a half after being hired by Carlyle’s AlpInvest Partners to focus on secondaries and co-investments in energy and infrastructure, Justin Gordon has left the firm, according to an AlpInvest spokesperson.

The fund of funds is also giving up its plans to raise a dedicated energy and infrastructure fund.

Justine Gordon
Justine Gordon

“As disclosed to investors in October, and with their support given market opportunities, we decided to roll our energy/infrastructure investment efforts into our broader secondaries business,” the spokesperson said in an email. “We wish Justine well.”

The firm sent a letter informing investors of the change in October, although that letter is not publicly available.

Rumours of difficulties raising the dedicated energy and infrastructure secondaries fund started in the spring, according to secondaries sources.

AlpInvest announced in September 2014 that it hired Gordon as a managing director to lead AlpInvest’s energy and infrastructure investment practice.

She previously worked at Guggenheim Partners, where she was head of acquisitions for Guggenheim infrastructure. She also served as co-head of acquisitions at Deutsche Asset Management’s RREEF Infrastructure and a principal at mid-market firm Chartwell Investments. It’s unclear what her next move will be as Gordon did not return a request for comment.

AlpInvest is part of Carlyle’s Investment Solutions group, which also includes Metropolitan Real Estate Equity Management and Diversified Global Asset Management, the group’s hedge fund platform.

In December, Jacques Chappuis, head of the group, left and was replaced by Lauren Dillard, the group’s chief operating officer and chief financial officer and a 14-year Carlyle veteran. Chappuis joined less than two years ago.

AlpInvest, which manages more than $40 billion in assets, is currently raising AlpInvest Secondaries Fund VI with a target of $2 billion, according to PEI’s Research and Analytics division.