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AlpInvest eyes distressed companies

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NETHERLANDS - AlpInvest Partners, the private equity vehicle of the two largest Dutch funds, ABP and PFZW, is looking for an almost eightfold increase of its investments in distressed companies.

Michel Meijs, a spokesman for the €193bn civil service fund ABP, told IPE today the investments currently have "an upward potential".

According to Dutch media reports. AlpInvest intends to scale back its general private equity investments in favour of investment funds which specialise in distressed companies - firms in financial difficulty.

The firm intends to increase its allocation to such investment funds from its current 1%-2% to between 10% and 15% in the coming 12 to 24 months.

AlpInvest's current distressed companies portfolio is part of its leveraged buy-outs investments, between 75% and 80% of its entire assets under management.

The company currently has around €40bn in assets under management for the two pension funds.

Elsewhere, it has appeared that ABP has increased its stake in Dutch private bank Van Lanschot Bankiers increased from 7.38% to 12.06%.

ABP had to announce its stake following a new law, obliging shareholders to make it know publicly once a change in a stake in a company surpasses 5%.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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