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Alternative Market Briefing

Alpine Investors raises the largest fund yet at $1bn

Friday, November 15, 2019

Laxman Pai, Opalesque Asia:

San Francisco-based technology-focused midmarket firm Alpine Investors has raised $1 billion for its newest fund, the largest amassed by the firm to date.

The final tally for Alpine Investors VII LP was nearly double the $532 million the San Francisco-based firm raised for its prior fund in 2017, thanks partly to commitments received from investors in Europe and Asia.

Fund VII surpassed a $750 million target and hitting its hard cap, bringing the firm's total AUM to $2.7 billion.

In addition to receiving commitments from new investors in Europe, Asia, and North America, Alpine secured returning investors to Fund VII including fund-of-funds, pension funds, endowments, and family offices.

Alpine closed its previous fund, Alpine Investors VI, in 2017 with $532 million of total committed capital.

With Fund VII, Alpine will continue to specialize in control buyouts, majority recapitalizations, and corporate carve-outs of recurring revenue software and services businesses, targeting deals with a total enterprise value of up to $400 million for platforms and as low as $5 million for add-ons.

The upsizing of Fund VII allows Alpine to continue putting capital into its high-performing investments to pursue strategic add-on opportunities.

The closing of Fund VII follows an active and successful year for Alpine, during which the firm completed 37 investments in platforms and add-on acquisitions, including several investments through ......................

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