Alpine Investors Raises $4.5 Billion Fund IX to Support Software and Services Companies

Alpine Investors, a private equity firm dedicated to developing long-lasting software and services companies, has successfully closed its Fund IX at the hard cap of $4.5 billion in capital commitments. The fund initially targeted $3.75 billion but was oversubscribed due to strong investor demand. This ninth fund is double the size of its predecessor, Fund VIII, which closed at its hard cap of $2.25 billion in August 2021. Alpine's Fund IX received commitments from a diverse range of investors globally, including those from the U.S., Europe, Asia, and the Middle East.

The firm intends to utilize the capital from Fund IX to acquire and take control of software and services businesses with enterprise values of up to $1 billion. Additionally, Alpine plans to focus on making add-on acquisitions for its high-performing platform investments.

Graham Weaver, the Founder and CEO of Alpine Investors, expressed his satisfaction with the outcome, particularly given the challenging fundraising environment. He emphasized that Alpine's success is rooted in its philosophy of treating people well and giving them opportunities to excel at work. Weaver also expressed gratitude towards the investors and partners who have supported the firm's journey.

In recent years, Alpine Investors has been active in its software and services specialties, making notable investments and launching several prominent platforms. Some of its recent investments include ASG, Axcel Learning, Axia Water, predictis, the Trilon Group, FEV Tutor, Medusind, and Ascend.

April Smith, Head of Investor Relations and Fundraising at Alpine Investors, highlighted the significant presence of new partners from across the globe who chose to participate in Fund IX. She emphasized that the composition of Fund IX is the most diverse among all of Alpine's funds to date, demonstrating the firm's expanding reach and the growing market interest in their value proposition for investors.

Since its establishment in 2001, Alpine Investors has managed over $15 billion in assets and has more than 20,000 employees within its portfolio companies. The firm is renowned for its PeopleFirst operating philosophy and its executive talent programs, which recruit and develop future leaders for CEO and other executive-level roles.

Evercore Inc. served as the placement agent for Fund IX, while Kirkland & Ellis provided legal counsel to Alpine during the fundraising process.

Alpine Investors is a people-driven private equity firm that focuses on building enduring companies by working with exceptional individuals in the software and services industries. The firm has three offices in San Francisco, New York, and Salt Lake City.

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