Alpine Investors racks up $4.5bn for ninth fund

• Fund IX has a diversified investor base of returning and new investors from the U.S., Europe, Asia, and the Middle East
• Alpine plans to invest the capital for Fund IX in control buyouts of software and services businesses with total enterprise values of up to $1 billion
• Evercore Inc. served as placement agent for the fund

Alpine Investors has closed its ninth fund at a hard cap of $4.5 billion.

Fund IX is double the size of Alpine’s previous fund, Alpine Investors VIII, which was similarly oversubscribed and closed at its hard cap of $2.25 billion in August 2021.

Fund IX has a diversified investor base of returning and new investors from the U.S., Europe, Asia, and the Middle East. Alpine plans to invest the capital for Fund IX in control buyouts of software and services businesses with total enterprise values of up to $1 billion.

“We are thrilled with this outcome, particularly in a very challenging fundraising environment,” said Graham Weaver, founder and CEO of Alpine Investors in a statement. “We started Alpine 22 years ago with the thesis that the secret to building companies was hiring and training world-class leaders. It is incredibly satisfying to think that treating people well and giving them opportunities to be their best selves at work has been the formula for our investing success.”

Evercore Inc. served as placement agent for the fund and Kirkland & Ellis served as legal counsel to Alpine.

Founded in 2001, Alpine Investors has over $15 billion in assets under management as of March 31, 2023.