AlpInvest holds $750m final close on Secondaries Fund V

The co-mingled fund was launched last year and has 18 new investors, including sovereign wealth funds, public pensions, corporate pensions, insurance companies, asset managers, and foundations from around the world.

AlpInvest's secondaries program acquires positions in existing private equity funds and interests in privately held companies. It has committed $9.1 billion through 84 transactions in secondaries in the past 11 years.

In July 2012 the firm opened a Hong Kong office with a dedicated secondary investments team, headed by Neal Costello. Less than a year later Costello left his role at AlpInvest.

Recently, Hamilton Lane closed its Secondary Fund III at $900 million, surpassing the original target of $650 million. HarbourVest Partners reached a final close of $3.6 billion on its latest global secondaries fund, exceeding the $3 billion target, on the back of strong investor demand.

Carlyle acquired AlpInvest in 2011 from APG and PGGM - two of the largest pension funds in the Netherlands. In an effort to avoid a conflict of interest, the companies affirmed that AlpInvest will be barred from investing in Carlyle's funds and maintain an information firewall that prohibits the firm from sharing information gathered from its investees.

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• Topics
• Secondaries
• Europe
• Fundraising
• Secondaries
• The Carlyle Group
• AlpInvest Partners N.V.
• Fundraising