The Carlyle Group‘s AlpInvest, raised $6.5 billion for its sixth private equity secondaries fund, beating its $6 billion target.
Included in the fundraising is $3.2 billion raised in separately managed accounts.
AlpInvest Secondaries Program VI will focus on buying secondary stakes in current private equity and energy funds. The pool’s limited partners include sovereign wealth funds, public pension funds, corporate pension funds, financial institutions, asset managers, foundations and family offices from North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.
According to AlpInvest, the firm has committed over $11 billion to over 110 secondary deals the past 14 years. As of December 31, 2016, the firm is managing $41 billion in assets.
Buckets full of American money on a white background. Photo courtesy of ZargonDesign/iStock/Getty Images