News & Analysis

AlpInvest progresses with Fund V

The Carlyle-owned fund of funds has invested 25 percent of its $750m secondaries commingled Fund V, according to sources.

-

AlpInvest has invested around 25 percent ($187.5 million) of its $750 million Fund V so far, according to sources with knowledge of its fund.

Secondaries Investor understands Fund V has 25 investors, 18 of which are new to the fund, with two cornerstone investors: Dutch pensions APG and PGGM.

AlpInvest declined to comment.

Fund V reached its $750 million hard-cap in October of last year as part of a wider fundraising for the AlpInvest Secondaries Program, which reached $4.2 billion.

A statement from AlpInvest at that time said its 18 new investors in Fund V included sovereign wealth funds, public pensions, corporate pensions, insurance companies and asset managers, as well as foundations located in North America, Latin America, Europe, Africa, the Middle East and Asia-Pacific.

In June 2013, Carlyle completed the acquisition of AlpInvest Partners for 2.8 million shares and €4 million cash for the remaining 40 percent of the company it did not already own, according to PEI data.

AlpInvest says it has committed $9.1 billion through 84 transactions in secondaries in the past 11 years, with a 22-person team based in New York, Amsterdam and Hong Kong.