This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Carlyle Group And AlpInvest Assume Management Of Two Indiana Life Sciences Funds Of Funds Totaling $130 Million

Global alternative asset manager The Carlyle Group (NASDAQ: CG) and AlpInvest Partners today announced that they have assumed management of two funds of funds with a focus on Indiana life sciences companies: the Indiana Future Fund (IFF), a $72.6 million fund of funds, and its $58.0 million successor, the INext Program (INext). The transfer from a third party was approved October 1 st by the funds’ limited partners, and brings assets managed by Carlyle and AlpInvest in the state to approximately $438 million.

The Indiana Future Fund was raised in 2003 to invest in venture capital funds that in turn would consider investments in life sciences companies in Indiana. Investors in the IFF include Eli Lilly and Company, the Indiana Public Retirement System, the Indiana University Foundation, Indiana University, Purdue University, Indiana State University, Ball State University Foundation, American United Life Insurance and WellPoint Inc. INext, raised in 2009, invests in private equity firms considering investments in Indiana life sciences companies. Investors include Eli Lilly and Company, the Indiana Public Retirement System, the Indiana State University Foundation, University of Notre Dame, Purdue Research Foundation, Purdue University and the Richard M. Fairbanks Foundation.

Darren Carroll, Lilly’s vice president of corporate business development and chairman of the advisory committees of the two funds, said, “Carlyle and AlpInvest have shown a real commitment to our investment goals and to the state of Indiana with their establishment of an office and on-the-ground team as well as their stewardship of two other state-focused investment vehicles. We are excited to also have them managing IFF and INext, which together have brought the expertise of the venture capital firms to bear in the state.”

Jacques Chappuis, Managing Director and Head of Carlyle Solutions, said, “We are pleased to take on IFF and INext with the goal of achieving superior risk-adjusted returns, and being part of Indiana’s innovative approach to supporting the development of life sciences businesses in the state. We look forward to supporting venture capital firms’ efforts to consider potential investment opportunities in Indiana life sciences companies, and as a consequence create lasting economic benefits for the Hoosier state.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs