Alfaparf, an Italian specialist in the professional hair care market, completed the acquisition of Tricobiotos, a company that specializes in the production and marketing of cosmetic products for hair care and beauty, from Alto Partners, a private equity firm, for $33m. This is the third exit for Alto Capital IV after OFI (nutraceuticals, sold to Farmaceutici Procemsa in December 2020) and CEI Group (heavy trucks spare parts, sold to White Bridge Investments in June 2022). The average gross IRR for the first three exits is over 40% with a Fund DPI ratio of 73%.