Carlyle Group LP, the world’s second-biggest private-equity firm, agreed to buy the remaining 40 percent of AlpInvest Partners NV, a Dutch investment manager in which it took a 60 percent stake in 2011.
Carlyle will pay for the deal using 2.8 million shares and 4 million euros ($5.2 million) in cash, the Washington-based firm said in a regulatory filing today. That would translate into about $88 million based on Carlyle’s closing share price of $29.16 on May 31. Carlyle bought the initial stake in AlpInvest, which invests money in private-equity vehicles through funds-of-funds, for an undisclosed price.
Carlyle is taking full control of AlpInvest as part of its broader effort to diversify beyond leveraged buyouts, which produce volatile earnings. AlpInvest, which oversees 37 billion euros ($48 billion) invested in private-equity funds and other deals, is part of Carlyle’s Solutions business, run by Jacques Chappuis, who joined last month.
AlpInvest has about 150 employees, who will continue to make investment decisions independently of Carlyle, according to the filing. The deal is expected to close next month.