Carlyle-backed AlpInvest to invest $100m in Kinderhook Capital Fund III.

AlpInvest, a unit of The Carlyle Group, agreed to acquired an undisclosed minority stake in Kinderhook Capital Fund III, a New York City-based private equity fund, a unit of Kinderhook Industries, for a total $100m, in a privately negotiated transaction. "Kinderhook has a proven track record of success over nearly two decades and we are excited to partner with the team as they focus on maximizing the long-term value of the Fund III portfolio companies. We are particularly pleased that this transaction will benefit all parties involved, with Kinderhook’s original limited partners receiving a premium return, while also recapitalizing the Fund to fully support the continued growth strategies of the portfolio," Michael Hacker, AlpInvest Managing Director.