AlpInvest Partners

AlpInvest Partners

Type	Subsidiary
Industry	Private Equity
Predecessor	NIB Capital
Founded	1999
Headquarters	New York, New York, U.S. Amsterdam, Netherlands Hong Kong
Key people	Volkert Doeksen, Chairman Paul de Klerk, CFO/COO
Products	Fund investments, Secondaries, Co-Investments, Mezzanine
Total assets	$48 billion (June 30, 2013)[1]
Number of employees	130+ (2013)
Parent	The Carlyle Group
Website	www.AlpInvest.com

AlpInvest Partners is a private equity asset manager with $48 billion of assets under management as of June 30, 2013. AlpInvest's global investor base includes two large Dutch pension funds (ABP and PFZW), which were previous shareholders of the company, as well as institutional investors from North America, Asia, Europe, South America and Africa.

AlpInvest operates three investment teams focused on private equity: Fund Investments, Secondary investments and Co-Investments.

AlpInvest pursues investment opportunities across the entire spectrum of private equity including: large buyout, middle-market buyout, venture capital, growth capital, mezzanine, distressed and sustainable energy investments.

In 2011, the firm was acquired by a joint venture between AlpInvest management and The Carlyle Group and since August 2013, AlpInvest has operated as a subsidiary of Carlyle.

Founded in 1999, AlpInvest has offices in New York, Amsterdam, Hong Kong and Indianapolis with over 75 investment professionals and over 130 employees.

Investment Programs

The company flag outside its office in Amsterdam

With over $48 billion of funds under management, AlpInvest is one of the largest investors in the private equity asset class globally.^[2][3][4][5] AlpInvest pursues investment opportunities across the entire spectrum of private equity including: large buyout, middle-market buyout, venture capital, growth capital, mezzanine, distressed and sustainable energy investments. AlpInvest also invests across the range of private equity investment channels:

• Primary fund investments
• Secondary investments
• Co-investments

AlpInvest invests primarily in private equity limited partnerships and effectively acts as a fund investor, making commitments to private equity funds globally. Among the most notable firms with which AlpInvest is invested include: Kohlberg Kravis Roberts, Blackstone Group, Providence Equity Partners and TPG Capital as well as many of the leading middle-market private equity firms and venture capital firms.^[6]

AlpInvest will invest with these firms either by making commitments to new investment funds or by purchasing funds through the private equity secondary market. AlpInvest is one of the largest private equity fund investors and is also among the largest and most active and experienced investors in private equity secondaries.

AlpInvest also invests directly alongside some of the largest private equity investors through an active co-investment program and will make mezzanine debt investments into companies owned by financial sponsors.^[7]

Following this spin-off of its European middle market leveraged buyout platform, which was subsequently renamed Taros Capital^[8] AlpInvest, by itself, no longer makes control investments directly in privately held companies, but rather invests alongside selected private equity managers.

Investors and beneficiaries

AlpInvest's primary beneficiaries are the 4.8 million participants in the pension funds Stichting Pensioenfonds ABP (ABP) and Stichting Pensioenfonds Zorg en Welzijn (PFZW, formerly PGGM), both based in the Netherlands.

ABP and PFZW collectively had assets of over $500 billion as of December 31, 2012 and are among the largest pension funds in the world.

Prior to 2011, AlpInvest had not historically solicited capital from other investors or institutions. Following its spinout from the Dutch pension funds, AlpInvest has been actively raising capital from institutional investors in North America, Europe, Asia, South America and Africa.

Among AlpInvest's most notable U.S. clients are Municipal Employees' Retirement System of Michigan (MERS)^[9] and Indiana Public Retirement System (INPRS).^[10][11]

History

The logo used by Alpinvest N.V., a publicly quoted investment vehicle and predecessor of AlpInvest Partners

The logo used by NIB Capital Private Equity, the direct predecessor of AlpInvest Partners

AlpInvest as it is currently known, was established in 1999 as an initiative by its two sponsors, the Dutch pension funds ABP and PFZW (then PGGM), to create an independent and professional manager for their private equity allocations.^[12]

AlpInvest's predecessor, NIB Capital Private Equity, originally operated as one integrated investment firm with distinct teams focusing on fund investments as well as lead buyout investments in mid-sized companies located in the Benelux and Germany. As the firm evolved, AlpInvest shifted its focus toward an expansion of its investment management business.

In 2000, AlpInvest expanded its investment platform, by creating a dedicated equity co-investment team to invest in transactions alongside its core private equity managers. The following year, in 2001, the firm began a formal effort to make mezzanine investments. A year later, in 2002, AlpInvest launched a secondary investment platform, which has emerged as one of the largest buyers of private equity assets in the secondaries market.

Milestones

The headquarters of AlpInvest in Amsterdam

The following is a timeline of significant milestones:

• 1980s - Both ABP and PGGM begin separate in-house private equity investment programs, investing primarily in private equity funds.
• 1990s - Alpinvest Holding N.V., an evergreen investment fund, is founded and Stan Vermeulen is named CEO in 1993. Alpinvest Holding N.V. provided private equity and mezzanine capital to middle market companies in Benelux and Germany until its acquisition by ABP and PGGM in 2000.
• 1997 - Alpinvest Holding N.V. begins trading on the Amsterdam Stock Exchange on 11 June 1997. Major shareholders in Alpinvest Holding N.V. included the Dutch government and ABN Amro Bank NV.
• 1999 - ABP and PGGM form NIB Capital Private Equity, the predecessor of AlpInvest under the leadership of Volkert Doeksen, in order to increase position in the private equity market. NIB Capital is formed from several separate teams from NIB Bank NV and Parnib Holding NV.
• 2000 - Alpinvest Holding N.V. is acquired by ABP and PGGM, and integrated into Parnib Holding N.V. and NIB Capital Private Equity to form what would become AlpInvest Partners. ABP and PGGM topped a bid from GIMV to acquire the listed investment fund.^[13] NIB Capital receives its first mandate of €13 billion from ABP and PGGM of which close to €7 billion is designated for new investments in the period 2000–2002. The remainder comprised existing investments made by ABP, PGGM and NIB Capital’s predecessors.
• 2000 - AlpInvest begins a dedicated equity co-investment group.
• 2001 - NIB Capital opens New York office.
• 2002 - NIB Capital begins a dedicated secondary investment effort with a €1 billion mandate.
• 2003 - NIB Capital receives a new €7 billion mandate from ABP and PGGM, covering the period 2003–2005, for fund investments, secondary investments, co-investments and lead investments in the Benelux/German mid-market.

Press conference announcing the creation of a joint venture with The Carlyle Group.

• 2004 - NIB Capital Private Equity spun out to ABP and PGGM and renamed "AlpInvest Partners".^[14][15]
• 2006 - AlpInvest receives a new investment mandate from ABP and PGGM initially amounting to €11 billion, covering the period 2006–2008 (the mandate size increased over time). This represented one of the largest mandates ever granted in the international private equity markets.^[16]
• 2006 - AlpInvest spins off its European middle market buyout business, which is subsequently renamed Taros Capital^[8][17] in order to focus exclusively on investments in private equity funds and alongside relationship financial sponsors.
• 2006 - AlpInvest opens its first Asian office in Hong Kong.
• 2007 - AlpInvest receives a €2 billion mandate to invest in global mezzanine debt transactions^[18] and a €500 million Cleantech investment covering the period 2007–2009.
• 2008 - AlpInvest opens London office.^[19]
• 2011 - AlpInvest acquired by a joint venture between management and The Carlyle Group
• 2013 - AlpInvest raises $4.2 billion of investor commitments for its AlpInvest Secondaries Program, focused on secondary investments^[20]
• 2013 - The Carlyle Group acquires 100% ownership interest in AlpInvest^[21]

Awards

In recent years, AlpInvest has won several industry awards as a limited partner.

Year	Award	Publication	Ref.
2012	#1 Largest Private Equity Fund of Funds	Towers Watson, Financial Times	[22]
2008	Limited Partner of the Year	Private Equity International	[23]
2008	Most Influential European Limited Partner	Private Equity News	[24]
2007	Limited Partner of the Year	Private Equity International	[25]
2007	Most Influential European Limited Partner	Private Equity News	[26][27]
2007	Buyout of the Year: VNU (Co-Investment)	Thomson Financial's Acquisitions Monthly	[28]
2006	Limited Partner of the Year	Private Equity International	[25]
2006	Large investment of the year: NXP (Co-Investment)	Financial News	[29]
2005	Limited Partner of the Year*	Private Equity International	[30]

* This award was initiated in 2005. AlpInvest was the first recipient.

Private equity fund investments

AlpInvest is among the largest investors in private equity funds, globally, historically allocating as much as €4 billion per year to leveraged buyout (large-cap, middle-market, lower middle market), venture capital and special situations funds, among other strategies. AlpInvest maintains relationships with many of the leading managers in difficult to access segments of private equity. In many cases, AlpInvest is a strategic investor and tends to be among the largest investors in each fund in which it invests. AlpInvest's funds team is made up of more than 25 professionals based globally in Europe, North America and Asia.

Secondary investments

AlpInvest's secondary investments group focuses on the purchase of existing portfolios of private equity assets.

In the secondary market, AlpInvest operates as an independent investment group with a large dedicated team, comparable to other secondary firms and is one of the largest buyers of private equity assets in the secondaries market.^[31] AlpInvest's secondary investments include purchases of limited partnership interests, spin-outs of captive private equity groups, stapled secondary transactions, securitizations, joint ventures and secondary direct transactions.

Although most secondary transactions are kept confidential, the following transactions have been disclosed:^[32]

Date	Deal Description	Ref.
2008	AlpInvest, together with Goldman Sachs Capital Partners and CPP, purchased a portfolio of interests in 32 European companies managed by AAC Capital Partners from ABN AMRO for $1.5 billion.	[33][34]
2008	AlpInvest, together with Goldman Sachs, purchased $400 million of interests in legacy investment funds managed by Court Square Capital Partners from Citigroup.	[35][36]
2008	AlpInvest, together with HarbourVest Partners, Pantheon Ventures, Partners Group, Paul Capital Partners, Portfolio Advisors and Procific completed a takeover of Macquarie Capital Alliance Group in one of the first public to private transactions of a publicly traded private equity company completed by secondary market investors.	[37][38]
2006	AlpInvest underwrote the equity of a $500 million newly formed vintage fund-of-funds consisting of approximately 40 underlying private equity partnerships in a joint venture with Swiss Re and Horizon 21, a fund manager.	[32][39]
2006	AlpInvest, together with Coller Capital and Goldman Sachs underwrote the equity tranche of Astrea, an $800 million securitization, of 46 private equity fund interests owned by Temasek, a Singapore-based sovereign wealth fund.	[32][39][40]
2006	AlpInvest, together with HarbourVest Partners, completed a secondary transaction involving the establishment of a new fund, Paragon Partners. As a result of the transaction, Paragon Partners acquired an existing portfolio of three European companies providing an exit to German private equity fund manager Afinum.	[32][41]
2005	AlpInvest, together with AXA Private Equity, purchased a cornerstone interest in West Private Equity, subsequently renamed Lyceum Capital, and simultaneously made a new commitment to Lyceum Capital's second fund.	[32][42]
2005	AlpInvest, together with Lexington Partners purchased a $1.2 billion private equity portfolio from Dayton Power & Light, consisting of 46 fund interests. At the time of its completion, the DPL transaction represented one of the largest private equity funds portfolios acquired in the secondary market.	[32][43][44][45]
2003	AlpInvest was a lead investor in the €1.5 billion divestiture by Deutsche Bank of its direct and co-investment portfolio of private equity interests, consisting of over 100 underlying companies. The sale was part of a spin-out of what would become the private equity firm, MidOcean Partners. At the time of its completion, the MidOcean transaction was the largest secondary market completed.	[32][46]

Private equity and mezzanine co-investments

AlpInvest traditionally invests alongside leading financial sponsors in leveraged buyouts and growth capital transactions. Since inception, AlpInvest has invested more than €3 billion in over 100 transactions and is among the most active co-investors in private equity transactions. The firm's dedicated co-investment team is made up of more than 25 professionals across its equity and mezzanine products operating in Europe, North America and Asia.

The following is a list of selected notable companies that AlpInvest has invested in alongside other private equity general partners, either as an equity co-investor or as a mezzanine debt provider:

Investment	Date	Financial Sponsor(s)	Company Description	Ref.
Alliance Boots	Apr 2007	KKR	A British-based pharmacist and retailer	[47]
Alltel	May 2007	TPG Capital, GS Capital Partners	A mobile telecommunications company	[48]
AMC Theatres	Dec 2004	J.P. Morgan Partners, Apollo Global Management	The second largest movie theatre chain in North America.	[49]
Avago Technologies	Dec 2005	KKR; Silver Lake Partners	The former semiconductor products division of Hewlett Packard and later Agilent Technologies
Avaya	Oct 2007	Silver Lake Partners	A telecommunications company specializing in enterprise telephony and call center technology	[50]
Biomet	June 2007	KKR	A medical device manufacturer of artificial joints	[51]
Bushnell Corporation	2007	MidOcean Partners	Leading manufacturer of binoculars, spotting scopes, telescopes, night vision equipment, GPS and other optics and imaging products
Capio	Nov 2006	Apax Partners	A leading European healthcare provider
CEVA Logistics	Aug 2006	Apollo Global Management	A logistics company, formerly known as TNT Logistics	[52]
Dollar General	Mar 2007	KKR, GS Capital Partners	A chain of discount stores operating in the U.S.	[53]
Education Management Corporation	Oct 2006	Providence Equity Partners, GS Capital Partners, Leeds Equity Partners	A private operator of post-secondary educational institutions in North America
Expro	June 2008	Candover, Goldman Sachs	A leading British-based oil and gas well management business	[54][54][55]
Fairmount Food Group	May 2003	GTCR Golder Rauner	A food products supplier	[56]
Ferretti Motors	October 2006	Candover, Permira	An Italian yacht-building conglomerate (originally acquired in 1995 and taken private again in 2001)	[57][58][59]
Gala Coral Group	Aug 2005	Candover, Cinven, Permira	A British betting shop, bingo and casino operator
Gemplus International	Dec 2005	TPG Capital	A vendor of smart cards and other digital security products
Grupo ONO	Nov 2005	Providence Equity Partners, CCMP Capital, THL Partners, Quadrangle	A Spanish broadband company, providing telephone, television and Internet services
Harrah's Entertainment	Jan 2008	Apollo Global Management, TPG Capital	A gaming company that owns and operates casinos, hotels, and six golf courses	[60]
Iasis Healthcare	May 2004	TPG Capital	A hospital operating company
IMS Health	Nov 2009	TPG Capital	Supplier of sales data and consulting services to the pharmaceutical industry	[61]
Jostens	July 2003	DLJ Merchant Banking Partners, Investcorp, MidOcean Partners	A producer of high school and college class rings and publisher of school yearbooks
LA Fitness	May 2007	Madison Dearborn, CIVC Partners	An American health club chain
Masonite International	Dec 2004	KKR	A producer of doors, door components and door entry systems, door components and door entry systems	[62]
Nielsen Company	Jan 2006	Blackstone Group, KKR	A global information and media company (formerly known as VNU)	[63][64]
Nuveen investments	June 2007	Madison Dearborn	An investment management company that provides a suite of mutual funds, particularly in municipal securities	[65]
NXP Semiconductors	Aug 2006	KKR, Silver Lake Partners	A semiconductor company formerly part of Philips	[66]
Nycomed	Mar 2005	Nordic Capital	A European pharmaceutical company	[67]
Roundy's	Jun 2002	Willis Stein & Partners	A supermarket chain based in the midwestern U.S.	[68]
SBS Broadcasting Group	June 2007	Permira, KKR	A European broadcasting group, operating television, premium pay channels, radio stations and print businesses	[69]
Seven Media Group	Dec 2006	KKR	A media joint venture between with Australian Seven Network Limited formed in December 2006	[70][71]
Sports Authority	Jan 2006	Leonard Green & Partners	A leading retailer of sporting goods in the U.S.	[72]
Spyder Active Sports	July 2004	Apax Partners	A manufacturer of branded ski apparel and the largest ski-specialty brand
SunGard	Mar 2005	Silver Lake Partners, Bain Capital, the Blackstone Group, Goldman Sachs Capital Partners, KKR, Providence Equity Partners, Texas Pacific Group	A provider of software and services to education, financial services and public sector organizations, acquired by one of the largest consortia of private equity investment firms	[73]
TXU (renamed Energy Future Holdings)	Feb 2007	KKR, TPG Capital, Goldman Sachs	An energy company based in Texas, acquired in a $45 billion leveraged buyout, which at the time of its announcement, was the largest buyout in history	[74]
Univision Communications	Mar 2007	Madison Dearborn, Providence Equity Partners, TPG Capital, L.P., THL Partners, Saban Capital Group	A Spanish language television broadcaster in the U.S.	[75]
Vendex (renamed Maxeda)	Mar 2004	KKR	A Netherlands-based retail group that operates: Brico, de Bijenkorf, Claudia Sträter, M&S, Praxis and Vroom & Dreesmann and formerly operated HEMA, Hunkemöller, and Praxis	[76]
Visma	May 2006	HgCapital (Engel Holding AS)	A Norwegian company providing enterprise resource planning and customer relationship management software and services	[77][78]
Warner Chilcott	Oct 2004	CCMP Capital, Bain Capital, DLJ Merchant Banking Partners, THL Partners	A specialty pharmaceutical company producing branded prescription products in women's healthcare and dermatology in the U.S.	[79]
Weather Channel	Sep 2008	Blackstone Group, Bain Capital, NBC Universal	A media company operating The Weather Channel cable network	[80]

Source: AlpInvest website^[81]

See also

Distressed investments Equity co-investment Fund of funds Growth capital Leveraged buyout Limited partner

Mezzanine capital Private Equity Private equity secondary market Sustainable energy Venture capital

Notes

1. Source: Carlye Group website
2. AlpInvest reaches investment peak (DowJones PE News, 2008)
3. AlpInvest Top Euro PE Investor (Euromoney Institutional Investor, 2008)
4. AlpInvest Reaches Summit (Financial Times, 2004)
5. AlpInvest raises a mountain of money (TheDeal.com, 2004)
6. "AlpInvest Investment Portfolio". Alpinvest.com. 2012-12-31. Retrieved 2014-07-16.
7. LPs Seeking Co-investment Opportunities in Emerging Markets (Emerging Markets Private Equity, Quarterly Review Q4 2006). Page 13.
8. taroscapital.com
9. Michigan To Put $750M In Carlyle, AlpInvest. Institutional Investor, July 13, 2011
10. Indiana Public Retirement System picks Carlyle, AlpInvest for state-focused strategy. Pension & Investments, March 4, 2013
11. The Carlyle Group and AlpInvest Assume Management of Two Indiana Life Sciences Funds of Funds Totaling $130 Million. Business Wire, October 17, 2013
12. Superfund ABP takes the crown for fourth year running DowJones Financial News, 13 Nov 2007.
13. European ABP-PGGM Tops GIMV Alpinvest Bid. Buyouts, 24 January 2000
14. William Hutchings (2004-02-01). "AlpInvest Partners comes out of NIB Capital Private Equity". DowJones Financial News. Retrieved 2008-04-27.
15. In 2005, ABP and PGGM sold their interests in NIB Capital Bank to JC Flowers.
16. Dutch AlpInvest receives €11bn investment mandate from ABP and PGGM Archived October 16, 2006, at the Wayback Machine.
17. "AlpInvest spins off mid-market buy-out business. Unquote: 26th October 2005". Unquote.com. 2006-01-01. Retrieved 2014-07-16.
18. AlpInvest receives €2bn mezzanine mandate from ABP, PGGM Archived June 12, 2008, at the Wayback Machine.
19. "AlpInvest targets UK mezzanine with office launch". Penews.com. 2007-07-23. Retrieved 2014-07-16.
20. The Carlyle Group's AlpInvest Partners Reaches $4.2 Billion for Secondaries Program. October 16, 2013
21. Carlyle Buys Remaining 40% of AlpInvest as It Diversifies. Bloomberg, Jun 3, 2013
22. Top 50 Private Equity FoF Ranking. Towers Watson Global Alternatives Survey 2012, July 2012
23. Private Equity International Awards 2008 Archived July 15, 2011, at the Wayback Machine.
24. "eFinancial News". eFinancial News. 2009-03-23. Retrieved 2014-07-16.
25. "Global firms dominate the PEI Awards". Peimedia.com. Retrieved 2014-07-16.
26. "eFinancial News". eFinancial News. 2008-03-10. Retrieved 2014-07-16.
27. Europeans step up to global battlefield Private Equity News, p. 13-16
28. "Acquisitions Monthly 2007 Award Winners". Acquisitions-monthly-awards.com. Retrieved 2014-07-16.
29. "KKR dominates at awards ceremony". Efinancialnews.com. Retrieved 2014-07-16.
30. Engineering Success, p. 20
31. AlpInvest hires secondary investment specialists (AltAssets, 2007)
32. AlpInvest Secondary Investments : Case Studies Archived January 24, 2010, at the Wayback Machine.
33. Secondary investment: "Goldman group snags ABN AMRO unit." Pensions&Investments, August 12, 2008.
34. Secondary investment: Discount offered to offload ABN Amro's Secondaries
35. Secondary investment: Kreutzer, Laura. "Citigroup shutting down VC arm after Metalmark buy." DowJones Private Equity News, May 29, 2008
36. Secondary investment: Secondaries players wait on the sidelines
37. "Macquarie Capital will spend $836m to go private". The Australian, June 17, 2008
38. "Macquarie Capital soars on buyout plan". The Sydney Morning Herald, June 16, 2008
39. Secondary investment: Structured secondaries increase risk and reward. Private Equity News, 5 Feb 2007
40. Secondary investment: Credit boom and leverage spark revolution in secondaries. Private Equity News, 5 Feb 2007
41. Secondary investment: HarbourVest and AlpInvest complete secondary transaction in Germany AltAssets, 22 February 2006.
42. Secondary investment: West Private Equity to re-brand as Lyceum Capital as the firm goes independent (AltAssets, 2006)
43. Secondary investment: DPL selling portfolio for $850M (Dayton Business Journal, 2005)M
44. Secondary investment: DPL to sell PE stakes for $850M (TheDeal.com, 2005)
45. Secondary investment: DPL, Inc. SEC Form 8-K Dated Feb. 18, 2005
46. Secondary investment: MidOcean Partners hits the fundraising trail Private Equity News, 9 January 2006
47. Co-Investment: Equity Firm Wins Bidding for a Retailer, Alliance Boots
48. Co-Investment: Seattle Times
49. Co-Investment: Acquisition of AMC Entertainment by Affiliates of J.P. Morgan Partners and Apollo Management is Completed - amctheatres.com - December 23, 2004
50. Co-Investment: Investment Firms Pick Up Avaya For $8.2 Billion
51. Co-Investment: Biomet Accepts Sweetened Takeover Offer
52. Co-Investment: Press Release: TNT Reaches Agreement to Sell its Logistics Division to Apollo Management
53. Co-Investment: "Dollar General being acquired for $6.87B by equity firm". The Tennessean. 2007-03-12. Retrieved 2007-03-12.
54. Co-Investment: Jenny Wiggins (2008-04-16). "Expro accepts £1.6bn acquisition". FinancialTimes. Retrieved 2008-04-27.
55. Co-Investment: Higher Offer For Maker Of Well Gear
56. Co-Investment: "GTCR Provides $200 Million Equity Commitment to Start Fairmount Food Group, LLC", Business Wire, May 8, 2003
57. Co-Investment: Judge, Elizabeth (October 28, 2006). "Times on line". Candover boards Ferretti in deal worth €1.7 billion. London. Retrieved November 15, 2006.
58. Co-Investment: "MSNBC". Bidding war set off for Ferretti yachts. Retrieved November 9, 2006.
59. Co-Investment: Permira had a 54 times return of its original investment from the company's brief listing on the Italian Stock Exchange from 2000 to 2001. "Business Week". Ferretti: That's Italian for Yacht. Archived from the original on 16 November 2006. Retrieved November 15, 2006.
60. Co-Investment: Knightly, Arnold (2008-01-29). "MERGERS AND ACQUISITIONS: Deal closes: Harrah's now private". Archived from the original on 5 February 2008. Retrieved 2008-01-29.
61. Co-Investment: IMS Gets $4 Billion Leveraged Buyout
62. Co-Investment: Masonite International Corporation to be Acquired by KKR
63. Co-Investment: Bloomberg.com: Europe
64. Co-Investment: Buyout Bid For Parent Of Nielsen
65. Co-Investment: Nuveen Investments to Be Acquired By Private Equity Group Led By Madison Dearborn Partners, LLC
66. Co-Investment: BLOOMBERG NEWS (2006-08-04). "TECHNOLOGY; Royal Philips Sells Unit for $4.4 Billion". New York Times. Retrieved 2008-04-27.
67. Co-Investment: Press Release: Nordic Capital acquires a major shareholding in Nycomed from DLJ Merchant Banking and Blackstone in 2005.
68. Co-Investment: Willis Stein picks up Roundy's
69. Co-Investment: 2 Equity Firms Paying $7.6 Billion for Largest German TV Broadcaster
70. Co-Investment: "Seven to form $4 billion media joint venture with KKR" (PDF) (Press release). Seven Network. 2006-11-20. Retrieved 2007-02-01.
71. Co-Investment: "Seven shareholders approve media spin off". Melbourne: The Age. December 22, 2006. Retrieved 2007-02-04.
72. Co-Investment: Leonard Green buying Sports Authority for $1.3B
73. Co-Investment: "Capital Firms Agree to Buy SunGard Data in Cash Deal." Bloomberg L.P., March 29, 2005
74. Co-Investment: Lonkevich, Dan and Klump, Edward. KKR, Texas Pacific Will Acquire TXU for $45 Billion Bloomberg, February 26, 2007.
75. Co-Investment: F.C.C. Approves $12 Billion Sale of Univision Communications
76. Co-Investment: Kohlberg Kravis cancels $1.4 billion debt sale for Dutch retailer
77. Co-Investment: Offer by Engel Holding for Visma (PDF)
78. Co-Investment: Condition regarding antitrust clearance is satisfied.
79. Co-Investment: Warner Chilcott files $1 bln IPO
80. Co-Investment: NBC, Bain and Blackstone buy Weather Channel
81. AlpInvest Investment Portfolio: Co-Investments and AlpInvest Investment Portfolio: Mezzanine

References

• AlpInvest Partners N.V.: Private Company Information (BusinessWeek)
• Volkert Doeksen: Financial News 100 Most influential people 2006 (#56)
• AlpInvest Partners Presentation for Netspar 12 June 2007
• Firms seek a better class of investor(eFinancialNews, 2008)
• AlpInvest receives €2bn mezzanine mandate from ABP, PGGM (AltAssets, 2007)
• AlpInvest cuts support for buyout firms (DowJones Financial News, 2007)
• Dutch Treat (TheDeal.com, 2003)
• Speech:Volkert Doeksen, The French Senate. AFIC’s Annual Conference on Private Equity, Monday April 3, 2006.
• Europeans step up to global battlefield Private Equity News, p. 13-16
• AlpInvest 2008 Annual Review, 2008 Annual Report
• AlpInvest 2009 Annual Review, 2009 Annual Report

External links

• AlpInvest Partners (official website)