Netherlands-based private equity and pension fund investor AlpInvest Partners has spun off its mid-market buy-out business, which will be renamed Taros Capital. The new firm will be independent from the start of January 2006.

The separation of the two businesses will allow AlpInvest, which was originally set up to administer the investments of the Dutch pension funds ABP and PGGM, will to focus on primary and secondary fund investments, co- investments and mezzanine investments, the company said in a press release.

Taros Capital will continue the management of AlpInvest’s lead buy-out investments in the Benelux region and Germany. Taros Capital will also be able to raise money from third-party investors. The entire buy-out team will move to the new firm, which will have offices in Amsterdam, Antwerp and Frankfurt.

Taros Capital’s managing partner Alexander Van Wassenaer commented: Over the past few years, the German and Benelux buy-out market has become more mature resulting in an increasing deal flow. We are in an excellent position to pursue these opportunities pro-actively, jointly with company owners and managers.