AlpInvest makes key organisational changes

AlpInvest Partners has made changes to the structure and personnel of its secondaries team.

Managing directors Neal Costello and Michael Hacker, based in Amsterdam and New York respectively, have been made partners of the Carlyle Group, according to two sources familiar with the matter. The promotions were made in January.

Costello is understood to be moving to London from Amsterdam to help manage and expand AlpInvest’s secondaries team there. In January, the firm hired London-based principal Louis Choy and vice-president Marianne Parker from Canada Pension Plan Investment Board.

Vjerana Burleigh, who rejoined the firm in 2019 from 17Capital, makes up the remainder of the team, according to AlpInvest’s website.

Secondaries Investor understands that Amsterdam-based principal Wiebe Visser has departed the firm after more than 10 years. His next steps are not clear.

AlpInvest’s secondaries team is co-led by New York-based Chris Perriello, who was made a partner in 2018, and Amsterdam-based Wouter Moerel, who became partner in 2016. AlpInvest partners keep their existing titles for external purposes, Secondaries Investor understands.

The changes 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 18 months, including transactions with Audax Private Equity, Kinderhook Industries and 3i.

AlpInvest declined to comment on the changes.