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.