AlpInvest Partners has agreed its first direct buy-out since becoming the world's largest private equity investor with the purchase of Novem, a German car interiors company, from CVC and Goldman Sachs funds for €200m ($250m).

Goldman Sachs advised on the disposal to AlpInvest, the firm that changed its name from NIB Capital Private Equity earlier this month when ABP and PGGM, the Dutch pension schemes, took over direct ownership from NIB Capital, the bank they also own. AlpInvest became the world's largest investor in private equity last week when ABP and PGGM increased their allocation to private equity and took the firm's funds under management to €20bn.