AlpInvest Partners raised $3.5 billion for its latest co-investment fund, which focuses on private equity buyouts and growth capital transactions.
The fund, AlpInvest Co-Investment Fund VIII, exceeded its $3 billion target, a news release said.
The fund will invest alongside general partners in private equity buyouts and growth capital transactions across industry sectors and on a global basis. Further details on the fund, including the hard-cap, how much has already been committed and the size of the predecessor, were not available.
"This latest fundraise underlines AlpInvest's strong performance, and the appetite for our differentiated co-sponsored approach acting as a partner in active deal settings, which is built on long-standing relationships with buyout fund managers. We believe that we are well-positioned to provide investors with the type of high-quality co-sponsor opportunities and diversification that they are seeking," Rob de Jong, managing director and co-head of co-investments, said in the release.
Investors include Border to Coast Pensions Partnership, Leeds, England, with a $125 million commitment to the fund. The pool's pension fund members have about £46 billion ($63.6 billion) in assets.
AlpInvest has more than $55 billion in assets under management and is a subsidiary of The Carlyle Group.
A spokesman could not immediately be reached for comment.