Within third-party AUM: the aggregate of new commitments of capital by clients, and calls of capital from funds that have previously had a step-down and are therefore reflected in third-party AUM on a net invested capital basis
Within third-party fee-earning AUM: the aggregate of new commitments of capital by clients that pay fees on committed capital, and deployment of capital that charges fees on invested capital (including calls of capital from funds that have previously had a step-down and therefore charge fees on a net invested capital basis)
Balance sheet investment portfolio
Balance sheet investments made alongside funds, or where the balance sheet is seeding investments for new strategies
AlpInvest racks up $9bn for new PE secondaries fund Thursday, December 17, 2020
Laxman Pai, Opalesque Asia:
AlpInvest Partners, a subsidiary of Washington-based Carlyle Group Inc., wrapped up fundraising for its AlpInvest Secondaries Program VII (ASP VII) with $9 billion, ahead of the $8 billion it originally targeted for the fund.
Separately, the firm also has access to another $1.2 billion in capital allocated by the fund s backers to invest directly in secondary deals.
ASP VII is larger than its predecessor AlpInvest Secondaries Program VI, which raised $6.5bn in 2017, exceeding its $6bn target.
AlpInvest Secondaries Program VII will invest in positions in existing private equity funds through buying fund interests and general partner-led transactions.