Surplus Invest

CEO and Founder S.A. Lüdke leads investment decisions, supported by a partnership group that includes M. Büschl (COO and Head of Corporate Growth), C. Stransky-Greifensfels, Dr. F. Closset, and A. Caretti. The firm has not disclosed a separate investment committee. Mr. Lüdke's background includes Partners Group and BCG's Principal Investors & Private Equity practice.

ALP.X sources opportunities through three integrated verticals — real estate, infrastructure, and corporate growth — each of which offers advisory, development, and asset management services. These service mandates create visibility into off-market projects. The firm's partners also co-founded OMUNITI, a German real estate project developer, providing a direct pipeline of development-stage deals in the Berlin and Frankfurt regions.

ALP.X is neither. The firm operates as a development, holding, and advisory company in the real assets space. It does not aggregate third-party capital into closed-end funds or report AUM. The model generates returns through service fees, direct project development, and selectively held long-term assets, without a venture capital or family office mandate.

The firm has not publicized any fund-of-funds or LP commitments. Its disclosed activities are all direct — joint ventures with institutional partners like PineBridge Benson Elliot, advisory mandates such as Timehouse Munich, and development projects like the Cloud One Hotel & Residences in Miami. There is no evidence of GP staking or blind-pool fund investments.

The Altss research record originally flagged early-stage and growth venture, but the firm's own public materials describe a real-asset developer and advisor with no stated venture-stage framework. Portfolio evidence points to development and repositioning projects — such as condominiumization of a monument-protected Munich residential block and mixed-use neighborhood ground-up developments — rather than startup equity rounds.

The firm's website identifies three active verticals and acquisition profiles limited to hospitality, residential, office, parking, renewable energy infrastructure, and mixed-use. There is no mention of operating-company buyouts, biotech, software, or consumer brands. ALP.X appears to focus exclusively on real estate and infrastructure development, with its Corporate Growth vertical reserved for advisory services related to corporate venture capital portfolios, not direct operating-company investing.

Partners C. Stransky-Greifensfels and Dr. F. Closset co-founded OMUNITI, a Germany-based real estate and infrastructure project developer. OMUNITI co-invests with ALP.X in projects such as the mixed-use neighborhood development in Frankfurt, where it appears alongside Marco Polo Capital. This gives ALP.X a direct development execution arm without fully consolidating it under the parent brand.