AlpInvest’s fund investing group gets sole head after Hanno leaves

AlpInvest Partners’ fund investing group is being run by a single executive, Wendy Zhu, after Eric Hanno left the firm earlier this year, sources told Buyouts.

AlpInvest is owned by Carlyle Group and makes primary commitments, co-investments and secondaries investments. The fund investing group within AlpInvest is small but influential as backing by the group is a big vote of confidence for a fundraising GP.

Zhu, managing director and global head of primary fund investments, joined AlpInvest in 2007 from Macquarie Funds Management. Other leaders in primary fund commitments include managing directors Jeffrey Gruccio, Marleen Dijkstra, Joseph O’Connor and Piet-Hein den Blanken.

Hanno left in February, a source said. His LinkedIn profile said he left the firm in March. It’s not clear why he left or if he is taking on a role at another firm. A Carlyle spokesperson declined to comment and Hanno didn’t respond to a comment request Thursday.

Carlyle’s global investment solutions, which includes the AlpInvest platform, reported $67 billion of assets under management in its first-quarter earnings. The AUM comprises $26 billion in primary fund commitments, $22 billion in secondaries and $18 billion in co-investments, the report said. Carlyle’s investment solutions business is led by Ruulke Bagijn.