Volkert Doeksen, chairman of the board and managing director of Amsterdam-based AlpInvest Partners, will hand over the leadership at AlpInvest to Jacques Chappuis, head of Carlyle Solutions, next month.
Doeksen, who has led AlpInvest since 2000, will remain co-founder of AlpInvest, a member of the investment committee and vice chairman of Carlyle Solutions, the firm said in its annual review.
AlpInvest, which was originally set up to look after the private equity investments of Dutch pension funds APG and PPG, now sits within Carlyle’s Solutions Group, which also includes hedge fund manager Diversified Global Asset Management Corporation (DGAM), Metropolitan Real Estate Equity Management, a global real estate multi-manager, and offers smaller investors tailored accounts that allow them to access different strategies.
Carlyle’s solutions segment had $57.3 billion of assets under management as of September 30, 2013, including $4.2 billion raised for AlpInvest’s secondaries strategy. Investors in the strategy came through a combination of separately managed accounts and a comingled fund. The comingled fund closed ahead of its $500 million target on its $750 million hard-cap.
In his new role Doeksen will spend more time on large accounts of The Carlyle Group, as well as on new product and business development, he said. “As I had already started handing over operational responsibilities to Paul de Klerk and other managing directors over the past two years, I am very confident that I leave the firm in capable hands.”
Additionally, all the managing partner titles at AlpInvest have been changed to managing director titles to ensure alignment with Carlyle. AlpInvest also appointed three business line coordinators; Maarten Vervoort, Wouter Moerel and Sander van Maanen to head up fund investments, secondary investments and co-investments respectively.
News of the management reshuffle comes after AlpInvest became fully owned by Carlyle last year, when the firm acquired the remaining 40 percent interest after having bought a 60 percent stake in 2011.
AlpInvest committed almost €3.8 billion to investment opportunities in 2013. The firm delivered a year-to-date net return of close to 20 percent, it said in its annual review.