Wouter Moerel has been appointed as principal within the secondary fund investments team at AlpInvest Partners’ Amsterdam office.
Moerel joins from the European arm of The Carlyle Group, where he was a director of the €730 million ($972 million) Carlyle European Venture Partners (CEVP) fund, focussing on the telecommunications services sector.
At AlpInvest, Moerel joins the eight strong secondary fund investments team led by New York-based principal Tjarko Hektor. Moerel joins Niels Kok as partner in the Amsterdam office, which earlier this year recruited Benjamin Rouillard-Revillon as an associate.
Moerel, a Dutch national, joined Carlyle’s London office in February 2001 to bring his telco experience to bear on its CEVP fund. Previously, he had been a vice president at JP Morgan and prior to that vice president of the European telecommunications, media and technology group for Lehman Brothers.
AlpInvest typically acquires secondary interests in the €5 – €250 million range, although it can go higher. In February, alongside Lexington Partners, the firm’s US secondaries arm acquired the private equity interests of Ohio-based utility DPL in a deal valued at approximately $1.2 billion. The transaction involved the transfer of interests in 46 funds managed by 27 private equity firms, including both funded and unfunded commitments.
In February 2003, together with a syndicate of private equity investors, the European team acquired a private equity investment portfolio from Deutsche Bank worth approximately €1.5 billion, comprising over 80 sectorally and geographically diversified companies.