AlpInvest and Leonard Green Close $2 Billion Continuation Fund

AlpInvest Partners (“AlpInvest”), a subsidiary of global investment firm Carlyle (NASDAQ: CG), today announced the closing of its lead investment in a $2.2 billion Continuation Fund sponsored by Leonard Green & Partners, L.P. (“LGP”).

The Continuation Fund was established to acquire four portfolio companies across Green Equity Investors VI (“GEI VI”) and Green Equity Investors VII (“GEI VII”). The transaction provides liquidity to existing investors seeking to monetize performance to-date, while providing AlpInvest and other existing investors the opportunity to invest in among four market-leading businesses. The portfolio includes:

• SRS Distribution (“SRS”), a national leading specialty distributor of roof, landscape, and pool products to the U.S. construction market
• ExamWorks, a global leader in independent medical examinations, peer reviews, and other related services to the worker’s compensation, auto, and group health markets
• Veritext, a leading pre-trial deposition services provider for law firms and corporations in the U.S.
• Troon Golf, a global leader in third-party management for golf and club-related leisure and hospitality services

Founded in 1989, LGP is a leading private equity investment firm primarily focusing on companies that provide services, including consumer, healthcare, and business services, as well as retail, distribution, and industrials. Since its inception, LGP has invested in over 120 companies.

Jonathan Sokoloff, Managing Partner of LGP, said, “We are excited to partner with AlpInvest and to continue our partnership with the management teams of SRS, ExamWorks, Veritext, and Troon. These companies have performed exceptionally well to-date, and we are strong believers in their future growth potential.”