Carlyle Group‘s AlpInvest Partners has hired Jeff Gruccio as a principal on its primary investments team. Previously, Gruccio worked at Prudential Financial where he was an investment vice president.
AlpInvest Partners, a global private equity investor in primary funds, secondaries and co-investments, today announced that Jeff Gruccio has joined the firm as a Principal on its Primary Investments team. Mr. Gruccio, who started his new role this week, will focus on leading and overseeing U.S. primary investments and will report to Eric Hanno, Co-Head of Primary Investments at AlpInvest.
Mr. Gruccio was previously an Investment Vice President with Prudential Financial, one of the largest U.S. life insurance companies., which he joined in 2014 as part of the in-sourcing of the company’s private equity investment activities. At Prudential, Mr. Gruccio helped manage Prudential’s $5 billion portfolio, was responsible for sourcing and leading new fund commitments and direct co-investments on behalf of the insurance company in both the U.S. and Europe, and was a member of the Alternative Assets Group Investment Committee. Prior to joining Prudential, Mr. Gruccio spent nine years with Portfolio Advisors, LLC, a private equity advisor and manager, headquartered in Darien, Connecticut. At Portfolio Advisors, he served in many roles across the firm’s global platform, spending his first three years helping to establish the Firm’s European investment and business development activities, based in Zurich, Switzerland, and concluding as a senior member of the North American Primary Investment Team. Mr. Gruccio received a B.S. in Finance from the Pennsylvania State University.
AlpInvest is a global private equity investor, with approximately €39 billion of assets under management as of June 30, 2017, and offices in New York, Amsterdam, Hong Kong and Indianapolis. AlpInvest’s activities cover a range of private equity investing, including primary fund commitments, co-investments, and secondary purchases. The firm’s investments span the range of private equity, with commitments to more than 635 buyout, venture capital, growth capital, and distressed funds managed by more than 300 sponsors as of December 31, 2016. AlpInvest offers customized private equity investment solutions to investors through separately managed accounts and commingled products. For more information, please visit www.alpinvest.com
AlpInvest is part of the Investment Solutions segment of global alternative asset manager The Carlyle Group. Investment Solutions helps clients meet their objectives through tailored portfolio construction and implementation. The Investment Solutions platform gives investors access to the large and complex universe of alternative investment strategies— private equity and real estate—on a global basis.