AlpInvest creates secondaries team in Hong Kong
AlpInvest Partners, the Netherlands-based fund-of-funds, has expanded its Hong Kong office with the addition of a secondary investments team. Neal Costello, who recently relocated from New York, will lead the firm's secondary activities in Asia.
Costello joined the AlpInvest in New York in 2003 from CIBC World Markets' mergers & acquisitions division.
Nicole Ying Su, who moved from the AlpInvest secondary investments team in Amsterdam, will be another memeber of the new team. As part of the reallocation, both will also join AlpInvest's existing primary fund and co-investment teams based in Hong Kong.
"Asia has always been an important market for AlpInvest," Volkert Doeksen, chairman and CEO of AlpInvest. "As an early private equity investor in the region, we expect our activities to continue to grow in Asia."
AlpInvest has completed over $7 billion in secondary transaction globally, including over ten investments in Asia. As of last December, the private equity player had more than $40 billion under management.
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