About This Fund
AlpInvest Secondaries Programme VIII (ASP VIII) is the eighth generation of AlpInvest Partners' flagship secondaries strategy, raising a total of USD 20 billion across the programme — consisting of the flagship fund at its USD 15 billion hard cap, USD 3.2 billion in co-investment commitments, and USD 2 billion allocated to private wealth vehicles investing alongside the central fund. The programme closed in September 2025, making it one of the largest secondary market fundraises ever completed, and nearly double the size of its predecessor programme. More than 325 global investors committed capital, spanning pension funds, insurance companies, asset managers, and other institutional LPs.
The fund pursues AlpInvest's established global secondaries strategy, acquiring LP interests and GP-led positions in private equity portfolios at a discount to net asset value. AlpInvest's secondaries platform has a 25-year track record and accesses deal flow through its deep relationships with more than 380 private equity managers worldwide, giving it privileged access to both LP-led and GP-led transactions. The programme is managed by Chris Perriello, Partner and Global Head of Secondaries at Carlyle AlpInvest, supported by a global team across New York, Amsterdam, Hong Kong, London, and Singapore.
ASP VIII reflects the dramatic growth in secondary market volumes driven by record private equity inventory, slowing exit activity, and increasing GP-led complexity. The programme's scale allows AlpInvest to participate in the largest complex transactions while maintaining the diversification and vintage-year spread that characterise its secondaries approach. AlpInvest Partners manages approximately $89 billion in total assets under management across primaries, co-investments, secondaries, and portfolio financing, and has committed over $100 billion in total since inception. ASP VIII cements AlpInvest's position as one of the world's leading secondaries investors.