AlpInvest Partners

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AlpInvest Partners

Type	Private Ownership (NV)
Founded	1999, formerly NIB Capital
Headquarters	Amsterdam, Netherlands New York, New York
Industry	Private Equity
Products	Financial Services, Fund of funds, Secondaries, Mezzanine
Total assets	€40 billion ($45 billion)
Employees	100+ (2007)
Website	www.AlpInvest.com

AlpInvest Partners, founded in 1999 is the exclusive manager of private equity investments for two of the world's two largest pension funds Stichting Pensioenfonds ABP and PGGM, both based in the Netherlands and is one of the largest private equity investment managers globally with over €40 billion (approximately $45 billion) under management at the end of 2007.

AlpInvest has offices in New York, Amsterdam, Hong Kong and London with over 60 investment professionals and 100 employees.

1 Investment Programs
2 Notable Equity and Mezzanine Co-investments
3 Investors and Beneficiaries
4 History
5 See also
6 References

[edit] Investment Programs

AlpInvest invests primarily in private equity limited partnerships and acts as a fund of funds, making commitments to private equity firms globally, including Kohlberg Kravis Roberts, Blackstone Group, Providence Equity Partners and TPG Capital ^[1].

AlpInvest will invest with these firms either by making commitments to new investment funds or by purchasing funds through the private equity secondary market. AlpInvest is one of the largest private equity fund of funds investors and is also among the largest investors in private equity secondaries.

AlpInvest also invests directly alongside some of the largest private equity investors through an active co-investment program and will make mezzanine debt investments into companies owned by financial sponsors.

Following this spinoff of its European middle market leveraged buyout platform, which was subsequently renamed Taros Capital, AlpInvest no longer makes control investments directly in privately held companies, but rather invests alongside other private equity firms

[edit] Notable Equity and Mezzanine Co-investments

Source: AlpInvest website^[5]

[edit] Investors and Beneficiaries

AlpInvest's primary beneficiaries are the 4.8 million participants in the pension plans managed by Stichting Pensioenfonds ABP (known as ABP) and PGGM, both based in the Netherlands.

ABP and PGGM collectively had assets of over $400 billion as of December 31, 2007 and were repsectively the largest and third largest pension funds in Europe at the end of 2007.

AlpInvest does not currently solicit capital from other investors or institutions.

[edit] History

1980s - Both ABP and PGGM begin separate in-house private equity investment programs
1999 - ABP and PGGM form NIB Capital, the predecessor of AlpInvest in order to increase position in the market. NIB Capital is formed from several separate teams from NIB Bank NV and Parnib Holding NV
2000 - Alpinvest N.V. was acquired and combined with NIB Capital Private Equity
2004 - NIB Capital Private Equity spun out to ABP and PGGM and renamed 'AlpInvest Partners' ^[6]
2005 - AlpInvest receives largest investment mandate €11 billion^[7]
2006 - AlpInvest spins off its European middle market buyout business, which is subsequently renamed Taros Capital^[8] in order to focus exclusively on investments in private equity funds and alongside relationship financial sponsors
2007 - AlpInvest receives €2 billion mandate to invest in mezzanine debt transactions ^[9]