AlpInvest Partners

AlpInvest Partners is a leading global private equity investor managing approximately $80 billion in assets. Founded in 2000 and headquartered in Amsterdam, AlpInvest was originally established as the private equity investment arm of two of the Netherlands’ largest pension fund managers, APG and PGGM. The firm became part of The Carlyle Group in 2011.

Investment Strategy

AlpInvest operates across three core strategies: primary fund investments, secondary transactions, and co-investments. The firm’s primary investment program commits capital to private equity funds across buyout, growth equity, and venture capital strategies globally. AlpInvest evaluates hundreds of fund opportunities annually and maintains long-standing relationships with leading general partners across all major geographies.

The secondary investment team acquires existing limited partner positions in private equity funds, providing liquidity to sellers and constructing diversified portfolios with accelerated deployment profiles. AlpInvest’s secondary practice covers both LP-led portfolio sales and GP-led continuation transactions.

The co-investment program deploys capital directly alongside the firm’s GP partners in individual deals, providing investors with concentrated exposure to specific transactions at reduced fee levels. AlpInvest’s co-investment track record is among the most extensive in the industry, with the team having evaluated and executed hundreds of co-investment transactions since inception.

Private Markets Approach

AlpInvest’s institutional heritage shapes its investment philosophy and process. The firm’s roots as a pension fund investor instill a focus on disciplined portfolio construction, rigorous risk management, and long-term return orientation. AlpInvest’s investment approach emphasizes thorough due diligence, reference checking, and quantitative analysis of manager track records and portfolio company fundamentals.

The firm’s relationship with Carlyle provides operational support and global presence while maintaining investment independence. AlpInvest’s investment decisions are made by its own team and investment committee, separate from Carlyle’s direct investment activities.

AlpInvest serves a global client base of institutional investors including pension funds, sovereign wealth funds, insurance companies, endowments, and family offices. The firm’s investment programs are offered through commingled fund vehicles and customized separate accounts. AlpInvest operates from offices in Amsterdam, New York, Indianapolis, Hong Kong, and Singapore.