AlpInvest Partners

It was great to connect with peers and clients at last week's Investors Forum 2025 hosted by Invest Europe in Geneva.? ? I enjoyed discussing the state of capital allocations today and the outlook for flows over the next decade with Eleanor Mountain, Carolina E., and Albrecht von Alvensleben. ? Generally at AlpInvest Partners we recommend steady deployment over time, but as I discussed we believe there are areas for alpha opportunities in today's market - such as: ? ? The lower mid-market, and the emerging manager space in particular, offers better alignment and opportunities for nearer term appreciation by participating in seeded primaries ? In the secondary market, we see high quality fund interests traded that are otherwise not available, and at what we believe to be attractive pricing; investors who have meaningful exposure to secondaries can benefit from this ? Thank you to Invest Europe for hosting another great event and I look forward to next year! #InvForum25

AlpInvest was pleased to attend this week's #SuperReturn Europe conference in London and engage with investors across the Secondaries and Private Credit summits. Michael Hacker, our Investment Committee Chair, gave a keynote address exploring the convergence of Secondaries and Portfolio Finance, highlighting the rapid rise of portfolio finance which could hit $100 billion of volume over the next three years. Continuing the theme of convergence, Mike also joined a panel discussion on Credit Secondaries where rapidly growing activity is creating new paths for liquidity in private credit. We wrapped up with a great breakfast session for European LPs, hosted jointly by AlpInvest and Carlyle Global Credit, covering key market themes across direct lending and portfolio finance. #SRSecondariesEurope #SRPCEurope #Secondaries #PortfolioFinance

At the Fund Finance Association14th Annual Global Symposium, Michael Hacker, Global Head of Portfolio Finance at AlpInvest, participated on the “Fund Finance 101” panel, which provided a crash course for market participants on this rapidly growing space. Mike shared insights on the key aspects of Fund Finance and its broader ecosystem, as well as the expanding range of solutions available to borrowers and investors that go beyond the traditional #FundFinancing market. Panelists also explored the underwriting considerations involved in evaluating various financing opportunities, important success factors for lenders, and predictions for the future of the fund finance market.

??? Ruulke Bagijn, Global Head of Investment Solutions, spoke to the LSE Focal Point #podcast to discuss her career, tips for those starting out in finance, and how AlpInvest remains at the forefront of innovation in secondaries today. Her best piece of advice for listeners: “My last tip is to trust yourself and aim high – don’t let others hold you back.” Listen via Apple Podcasts: https://spr.ly/6048ITaKO Listen via Spotify: https://spr.ly/6049ITaKP

AlpInvest's Michael Hacker recently had the pleasure of guest lecturing at Harvard Business School’s Short Intensive Program (SIP) on Private Credit, discussing “Beyond Direct Lending: NAV Lending and Developing Trends in the Broader Private Credit Space.” It was an opportunity to dive into the emerging Portfolio Finance opportunity—where it fits into the evolving private equity landscape, how it ties together with developments in the secondaries market and how it bridges the gap between direct lending and asset-based lending in the private credit asset class. A huge thank you to Professor Victoria Ivashina and Professor David Scharfstein for the invitation and for putting together such a dynamic and insightful course on this rapidly growing sector. #PrivateCredit #PortfolioFinance #HarvardBusinessSchool #NAVLending #PrivateEquity

We are pleased to share that Chris Perriello, Global Head of Secondaries at AlpInvest Partners, has been recognized by Private Equity News as one of the Twenty Most Influential in Secondaries 2025. This inaugural list celebrates senior professionals shaping the private equity #Secondaries landscape. Since joining AlpInvest 18 years ago, Chris has helped lead the growth of the secondaries business and fundraising efforts. He manages a team of 50 and is a member of AlpInvest’s investment and management committees. Congratulations, Chris! See the full list here: https://spr.ly/6043aHyXL This award was announced on January 6, 2025, from Private Equity News. No compensation was paid by Carlyle for the award. No award should be relied upon as predictor of future results.

AlpInvest is pleased to have led a €600m single-asset Continuation Fund in partnership with Gyrus Capital to support the continued growth of Essential Pharma. The transaction, which was supported by a high-quality syndicate of new and existing investors, and a meaningful reinvestment from both Gyrus and Essential management, provides Essential with additional capital to build on its diversified portfolio across established and rare disease medicines. Read more here: https://spr.ly/6047Q083B

Carlyle’s AlpInvest is pleased to announce a new strategic partnership with Mubadala Investment Company (Mubadala), focused exclusively on providing portfolio senior fund financing to private equity funds on a global basis. The partnership builds on Mubadala and Carlyle’s long-standing relationship and represents a key advancement in AlpInvest’s portfolio finance strategy. We look forward to expanding our partnership with Mubadala and working together to increase our reach and capacity to meet the evolving needs of our partners within the private equity community. Read more here: https://spr.ly/6043QXN0x

Last week, AlpInvest’s Head of Responsible Investment Maaike van der Schoot participated in a dynamic panel discussion at Private Equity International’s Responsible Investment Forum on ESG reporting and driving long-term value through sustainable investing. For AlpInvest, convergence on ESG reporting is essential to uncover meaningful #sustainability insights across our portfolios. Maaike emphasized how the ESG Data Convergence Initiative (EDCI) framework has not only driven transparency, but also opens doors to identify how sustainability can drive value creation for investors. #RIFEurope #RIFEurope24

Over 60 AlpInvest colleagues from our Amsterdam office came together recently for a volunteer project, cleaning up waste from Amsterdam’s famously picturesque canals in collaboration with Plastic Whale. Using electric boats and fishing nets, our team braved the cold weather and successfully collected a substantial amount of waste material, including: three scooter helmets, a vacuum cleaner, shoes, and numerous plastic bottles. This experience not only contributed to the environment, but also showcased the strength of AlpInvest’s team and community spirit. A big thank you to everyone involved for their hard work and commitment!