handing out money (1)

Lee Equity offers LPs chance to sell Fund I stakes at premium

Lee Equity Partners is restructuring its first and only fund, giving limited partners the option to sell their interests at a premium to net asset value or to roll into a new vehicle that will house the remaining portfolio companies, according to three people with knowledge of the process.


Costello rejoins AlpInvest Partners

Neal Costello has rejoined AlpInvest Partners as a Managing Director on its Secondary Investments team. Costello is now a member of AlpInvest’s Investment Committee. Costello previously worked for AlpInvest from 2003 to 2013. He was most recently a Senior Principal at the Canada Pension Plan Investment Board. AlpInvest is backed by the Carlyle Group.


Noah Keys joins AlpInvest as a principal

AlpInvest Partners, The Carlyle Group‘s private equity fund of funds, recently named Noah Keys as a principal, according to a spokesperson at Carlyle. In his new position, Keys will be responsible for secondaries and co-investments in the energy, infrastructure and natural resources industries.
Previously, Keys served as an executive director in UBS Investment Bank’s global energy group.


Linden Fund III raises $750 mln

Linden Capital Partners has closed its third fund at its $750 million hard cap, said Tony Davis, the Chicago-based firm’s president and managing partner.

CVC, Singapore’s GIC to cut stake in HKBN listing-Reuters

HKBN Ltd, the second-largest broadband Internet provider in Hong Kong, filed late on Friday for an initial public offering, with shareholders including private equity firm CVC Capital Partners Ltd set to cut their stakes as part of the deal, Reuters reported.


AlpInvest’s INext Fund makes final commitment to Clarus Lifesciences

INext Fund, a $58 million venture capital fund of funds focusing on life sciences that is managed by AlpInvest Partners, has made its fifth and final commitment to Clarus Lifesciences III. INext was raised in 2009 and has investors including Eli Lilly and Company, the Indiana Public Retirement System, Indiana University Foundation, University of Notre Dame and Purdue University. AlpInvest, part of Carlyle Group’s Solutions business, manages INext from its Indiana office.


Doeksen steps back at Carlyle’s AlpInvest

Volkert Doeksen, the chairman and managing director of The Carlyle Group’s private equity fund of funds, AlpInvest Partners, has been transferring day to day management responsibilities to other executives at the group over the past two years.

AlpInvest makes promotions

AlpInvest Partners has promoted Michael Hacker to managing director and Michael Camacho to principal. Both joined AlpInvest’s secondary investment team in New York in 2007.

Carlyle and AlpInvest in Indiana life sciences funds deal

The Carlyle Group and AlpInvest Partners have assumed management of two funds of funds with a focus on Indiana life sciences companies: the Indiana Future Fund, a $72.6 million fund of funds, and its $58 million successor, the INext Program. The transfer from a third party brings assets managed by Carlyle and AlpInvest in the state to approximately $438 million.

Carlyle’s AlpInvest Partners reaches $4.2bln for secondaries program

AlpInvest PartnersAlpInvest Secondaries Program has reached $4.2 billion, including AlpInvest Secondaries Fund V closing at its hard cap of $750 million. The ASP is a dedicated secondaries program that has acquired positions in existing private equity funds and interests in privately held companies since 2012.

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