AlpInvest Is On The Block

AMSTERDAM (Reuters) – Dutch asset managers APG and PGGM want to sell AlpInvest, one of the world’s largest private equity investors with up to 46 billion euros at its disposal, newspaper Het Financieele Dagblad reported on Friday, citing sources. The asset managers want to free up their capital to invest elsewhere, the paper said, citing its sources. Spokespeople for the two firms were not immediately available to comment.

APG and PGGM each own 50 percent of AlpInvest, which has recently floated or made plans to float media company Nielsen Holdings, fund manager Jupiter JUP.L and chip maker NXP [NXP.UL], among others.

In its annual review, AlpInvest said it had 1.7 billion euros ($2.14 billion) in total investments in 2009 and 1 billion euros in realisations. It calls itself the largest European private equity investor.

It employed 121 people as of the end of last year at offices in Amsterdam, New York, Hong Kong and London.

APG is the asset manager for ABP, the world’s third-largest sovereign pension fund. Last year APG committed 5.3 billion euros for a new 2009/2010 mandate for AlpInvest.

PGGM is the asset manager for PFZW, the pension fund for the Dutch care and welfare sector. (Reporting by Ben Berkowitz; Editing by Mike Nesbit) ($1=.7939 euros)

peHUB Note: Private Equity Insider was first to report the news last week.