AlpInvest appoints infra secondaries exec

Justine Gordon has joined the firm as a managing director focused on secondaries and co-investments in the energy and infrastructure sectors.

AlpInvest Partners, the fund of funds arm of The Carlyle Group, has appointed Justine Gordon as a managing director, according to a statement.

Justine Gordon
Justine Gordon

Gordon will focus on secondaries and co-investments in the energy and infrastructure sectors from AlpInvest’s New York office.

Previously Gordon was a managing director and head of acquisitions at Guggenheim Infrastructure. She has also worked at RREEF Infrastructure, the infrastructure business at Deutsche Asset Management and Chartwell Investments.

“Her extensive experience and knowledge in the energy and infrastructure sectors will help us identify new opportunities and develop creative investment solutions for our investors,” Jacques Chappuis, chairman of AlpInvest and head of Carlyle Solutions said in the statement.

AlpInvest is investing its fifth secondaries fund, which closed on roughly $4.2 billion last year. The firm had deployed roughly $1.74 billion as of the end of July.

AlpInvest is part of Carlyle’s Solutions group, which also includes Metropolitan Real Estate Equity Management and Diversified Global Asset Management (the group’s hedge fund platform). The group had $19.3 billion of dry powder during the second quarter.

Infrastructure secondaries is growing and is fueled by the disposal of pre-credit crunch private equity fund stakes and assets that have disappointed investors. Advantageous pricing is also drawing investors to the infrastructure secondaries market because the primary market is crowded, particularly in core infrastructure. Still, the activity isn’t expected to come close to that of the private equity secondaries market and the infrastructure market remains significantly younger.