AlpInvest Partners closes a $2b continuation fund

AlpInvest Partners, a subsidiary of Carlyle, has successfully closed a $2.2 billion Continuation Fund sponsored by Leonard Green & Partners, L.P. (LGP). This fund aims to acquire four portfolio companies from Green Equity Investors VI and VII, offering liquidity to existing investors while presenting investment opportunities for AlpInvest and other stakeholders.

The portfolio comprises market-leading businesses in various sectors, reflecting LGP's focus on services, consumer, healthcare, and business services, along with retail, distribution, and industrials. Established in 1989, LGP has a robust track record, having invested in over 120 companies since its inception. This strategic move aligns with AlpInvest's commitment to fostering growth and maximizing returns for its investors.