AlpInvest Partners

AlpInvest Partners, a prominent global private equity investor headquartered in Amsterdam, the Netherlands, operates as a significant component within Carlyle's Global Credit segment. Established in 1999, AlpInvest specializes in three core areas: making primary commitments to private equity funds, executing secondary market transactions, and engaging in co-investments alongside general partners. This multi-faceted approach allows them to deploy capital across various stages and strategies within the private equity landscape, serving a diverse base of institutional investors.

With a substantial footprint in the global private equity market, AlpInvest Partners manages over $80 billion in assets under management as of December 31, 2023. Since its inception, the firm has committed more than $100 billion to private equity funds and co-investments, underscoring its significant capital deployment capabilities. Their extensive track record includes investments in over 700 primary funds, the completion of more than 100 secondary transactions, and participation in over 200 co-investments, demonstrating their broad reach and deep expertise across various private equity strategies.

For AlpInvest Partners, the concept of a "first cheque" differs from that of a typical venture capital firm directly funding startups. Instead, their investment sizes reflect their role as an institutional investor in the private equity ecosystem. Their typical "first cheque" represents a commitment to a new private equity fund, a significant acquisition in the secondary market, or a substantial co-investment alongside a private equity firm into a portfolio company. These commitments are substantial, reflecting the scale of the private equity market and AlpInvest's position within it.

Consequently, the typical investment range for AlpInvest Partners is considerable, reflecting the large-scale nature of their transactions. While specific figures can vary widely based on market conditions and opportunity, their typical initial commitments or transaction sizes generally range from a minimum of $50,000,000 for a smaller fund commitment or co-investment slice, extending up to $1,000,000,000 or more for major fund commitments or large-scale secondary portfolio acquisitions. This range positions AlpInvest as a key capital provider for established private equity firms and large-scale private market transactions globally.