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Private equity giant AlpInvest returns 20% on back of improving sentiment

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AlpInvest, the €61bn private equity investor, has reported a net return on investments of almost 20% for 2013, and said it based its positive outlook for all its investment activities on “continuing improving economic sentiment”.

The company – one of the largest private equity investors in the world – added in its annual report that its net life-to-date internal rate of return was 11.1% last year.

AlpInvest saw its aggregated capital commitments increase by €3.9bn to almost €61bn during the first four months of 2014, following a €4.5bn rise to 56.8bn last year.

Currently, committed capital to investment funds and secondary investments amount to €38.6bn and €9.5bn, respectively, while assets committed to co-investments, mezzanine investments and direct investments were €7.9bn, €3.5bn and €1.1bn, respectively.

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Over the first four months of 2014, investors committed a further €2.3bn to fund investments, €1.1bn to secondary investments, €400m to co-investments and €200m to mezzanine investments.

AlpInvest’s management board said growth reflected the increasing importance of private equity in developed economies, including many Asian countries.

AlpInvest pursues opportunities across a range of private equity investment channels, such as primary, secondary and co-investments, covering buyouts, growth capital, ventures and mezzanine.

In August 2013, the Carlyle Group acquired full control of AlpInvest through the purchase of the 40% stake held by the company’s management.

Two years’ previous, the Carlyle Group and AlpInvest management bought the company from the large asset managers APG and PGGM, which signed substantial mandates to be committed for the period 2011-15.

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