AlpInvest Secondaries Program VII’s $9 Billion Fundraising


Ropes & Gray advised AlpInvest Partners on the deal.

AlpInvest Partners, The Carlyle Group’s dedicated private equity primary fund, co-investment, and secondary solutions platform, has raised $9 billion for AlpInvest Secondaries Program VII (“ASP VII”) in closed and reserved commitments, and has closed on an additional $1.2 billion in committed co-investment vehicles. ASP VII exceeds its $8 billion target and reached its hard cap.

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. More than 170 new and existing investors committed capital to ASP VII, including sovereign wealth funds, public pension funds, corporate pension funds, financial institutions, asset managers, foundations, and family offices that originate from over 45 countries spanning North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.

AlpInvest 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.

The Ropes & Gray team advising AlpInvest on ASP VII was led by asset management partners Lindsey Goldstein (Picture) and Marc Biamonte. The team also included tax partner Adam Greenwood, ERISA partner Josh Lichtenstein, asset management counsel Nicole Krea, asset management associates Carlos Hanco Jr., Lindsay Rutishauser, Chidi Oteh, Casey White, Shudan Shen, Stephanie Ragland, April Herleikson, Michael Santopietro, Amanda Eller, Adam Morollo, Tim Parrington, Jay Yi, and tax associates Brandon Dunn and Hudson Todd.

Involved fees earner: Marc Biamonte – Ropes & Gray; Catherine White – Ropes & Gray; Brandon Dunn – Ropes & Gray; Amanda Eller – Ropes & Gray; Lindsey Goldstein – Ropes & Gray; Adam Greenwood – Ropes & Gray; Carlos Hanco – Ropes & Gray; April Herleikson – Ropes & Gray; Nicole Krea – Ropes & Gray; Joshua Lichtenstein – Ropes & Gray; Adam Morollo – Ropes & Gray; Chidi Oteh – Ropes & Gray; Timothy Parrington – Ropes & Gray; Stephanie Ragland – Ropes & Gray; Lindsay Rutishauser – Ropes & Gray; Michael Santopietro – Ropes & Gray; Shudan Shen – Ropes & Gray; Hudson Todd – Ropes & Gray; Jay Yi – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: AlpInvest Partners;

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Author: Ambrogio Visconti