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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.
"ASP VII is a dedicated secondaries investment program that will seek to acquire positions in existing private equity funds in the secondaries market through both the acquisition of fund interests and GP-centered investments," said a press release from the global private equity investor, with more than $49 billion of assets under management.
Wouter Moerel, Managing Director & Co-Head of Secondary Investments at AlpInvest, said: "It is a significant milestone for AlpInvest to have concluded another successful fundraising, largely executed remotely. We are delighted with the strong investor support, which we believe validates the caliber of our team and the breadth and depth of the AlpInvest and Carlyle platforms. We are grateful for the confidence and support of our limited par...................... To view our full article Click here
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