Alpha will hire after €900m fundraise

The Luxembourg-domiciled fund was hit by uncertainty over Brexit during the capital raise.

The UK’s vote to leave the EU impacted fundraising for the €900 million Alpha Private Equity Fund 7, with appetite from US investors falling following the referendum result, the firm said.

“We noticed that US investors’ appetite was bigger at the beginning of the fundraising process, but Brexit slowed this with the return of uncertainty in Europe,” a spokeswoman said.

Alpha is planning additions to its current 32-strong team, following the raise, the spokeswoman confirmed.

Investors in the Luxembourg-domiciled fund are 90 percent European, 9 percent US and 1 percent from the rest of the world. The fund is structured as a SICAR, which is supervised by the national regulator, the CSSF.

Legal and tax advisers to the fund included Willkie Farr & Gallagher, Arendt & Medernach, Reed Smith and Baker & McKenzie.

Alpha’s previous fund raised €700 million. The firm declined to comment on fees and performance.