West Spins into Lyceum

West Private Equity is spinning out of WestLB into an independent firm named Lyceum Capital. As part of the deal, AlpInvest Partners and AXA Private Equity have agreed to acquire all portfolio companies owned by WestLB in West Private Equity’s first fund, and also to fulfill all remaining commitments to the fund.

In addition, AlpInvest and AXA have made commitments to a new West Private Equity fund that is being raised. In related news, West Private Equity has named David Harland to operations director.