Carlyle Unit AlpInvest Closes On $750M For Secondaries Fund

Law360, New York (October 16, 2013, 2:08 PM EDT) -- AlpInvest Partners, the private equity fund of funds arm of The Carlyle Group LP, has closed its latest secondaries fund with $750 million in assets after the fund reached its hard cap, AlpInvest announced Wednesday.

The fund initially targeted $500 million but received strong support from sovereign wealth funds, public and corporate pension funds, insurers, asset managers and foundations. The fund will acquire positions in existing private equity funds and privately held companies.

Though the fund is called AlpInvest Secondaries Fund V, it has a different...
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