AlpInvest hires ex-CPPIB pair including top-ranked Young Gun

The London-based appointments come as the Carlyle Group unit deploys its $10.2bn ASP VII secondaries programme.

AlpInvest Partners has hired two investment professionals from Canada Pension Plan Investment Board‘s secondaries investment team, including a Secondaries Investor Young Gun.

Louis Choy and Marianne Parker will join the Carlyle Group unit on 1 February, according to two sources familiar with the matter. They will be London-based and will work with managing director Neal Costello.

“We are delighted to welcome Louis and Marianne to the Secondary Investments team at AlpInvest,” Costello said in a statement to Secondaries Investor. “As we develop and grow the firm, their appointments will give us further deal sourcing and execution capability as we continue to invest in attractive opportunities globally.”

The appointments come as AlpInvest deploys its $10.2 billion ASP VII secondaries programme, which closed in December and includes $1.2 billion for co-investments. The firm has backed some notable GP-led processes in the past year including transactions with Audax Private Equity, Kinderhook Industries and 3i.

Choy, who joins as a principal, was the top-ranked person in the Young Guns of Secondaries Class of 2017, which renamed Next Gen Leaders last year. He was noted for his creativity and street-smarts. He spent seven-and-a-half years at CPPIB.

Parker, who joins as a vice-president, was a senior associate at CPPIB and had joined in 2016 from RBC Capital Markets, according to her LinkedIn profile.

In December, Secondaries Investor reported that Choy had left the Canadian pension giant, following the departure of Nik Morandi to Blackstone Strategic Partners and global secondaries head Michael Woolhouse to TPG last year.