Exclusive: AlpInvest builds in-house energy and infrastructure team

AlpInvest Partners, the private equity fund of funds manager owned by The Carlyle Group, is in the process of building an in-house energy and infrastructure team, according to two people with knowledge of the situation.

The unit would apply AlpInvest’s three main techniques to the focus area, including fund commitments, co-investments and secondaries, a person with knowledge of AlpInvest told me.

AlpInvest declined to comment. It is not clear whether AlpInvest has formally named anyone to the new group, but the firm has been recruiting for someone to head the effort, according to a market source.

AlpInvest does have exposure to energy and infrastructure through its primary commitments business but wants to formalize that focus. It is not clear if there is a time frame for forming the group.

Carlyle acquired a 60 percent stake in AlpInvest in 2011 for an undisclosed price. The firm announced last year it would buy the remaining 40 percent. AlpInvest, which has 35 billion euros ($48 billion) under management, is housed within Carlyle’s Solutions Group, headed by Jacques Chappuis.

Carlyle has been active around energy and natural resources. Last year the firm acquired a six-person, London-based energy team led by Marcel van Poecke, former CEO of Swiss oil refiner Petroplus. In 2012, Carlyle acquired a stake in NGP Energy Capital Management, allowing it to expand its global natural resources platform.

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