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APG, PGGM Sell AlpInvest To Carlyle

Dutch pension funds, APG and PGGM, will sell the €32 billion Dutch private equity fund of funds, AlpInvest Partners, to the Carlyle Group.

Dutch pension funds, APG and PGGM, will sell the €32 billion Dutch private equity fund of funds, AlpInvest Partners, to the Carlyle Group, Financial Times reports. As per the deal, APG and PGGM will invest about €10 billion in AlpInvest over the next five years.

AlpInvest’s managers are investing their own money to obtain a 40% stake.The managers will divide voting rights 50:50 with Carlyle. Credit Suisse and Catalyst Advisors advised APG and PGGM on the deal.

Click here for the story from Financial Times.

Click here for the additional coverage from Global Pensions.

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