AlpInvest secondaries program far exceeds target

The $49 billion private equity specialist firm AlpInvest Partners announced it has raised $9 billion for the AlpInvest Secondaries Program VII, and officials added they had closed on an additional $1.2 billion in committed co-investment vehicles. The dedicated secondaries investment program seeks to acquire positions in existing private equity funds in the secondaries market through both the acquisition of fund interests and GP-centered investments. The asset raise was from 170 new and existing investors that include pensions, sovereign wealth funds, family offices and foundations from across 45 countries. “The secondaries market continues to expand and evolve, both in terms of overall transaction volume and transaction structures,” said Chris Perriello, managing director and co-head of secondary investments at AlpInvest, which is the dedicated private equity fund, co-investment and secondary solutions platform of The Carlyle Group. “With over a decade of experience working together, our team continues to innovate and grow with the market. With the successful closing of ASP VII, we are well positioned to continue to execute on our strategy of investing in attractive opportunities globally.” The secondary market has been growing steadily, according to Coller Capital. Their market surveys indicate that activity in the coming years will likely continue on both the GP and LP side of the coin. As for AlpInvest, it has committed more than $19 billion to more than 150 secondary transactions over the past 18 years and currently has a dedicated 27-person secondaries team based in New York, Amsterdam, London and Hong Kong. Its sixth secondaries program raised $6.5 billion in 2017, exceeding its $6 billion target.

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