CVC Capital Partners has announced the first and final closing of CVC European Equity Partners IV, Europe’s largest private equity fund to date. CVC has raised E6bn (US$7.2bn) from a broad range of international institutional investors and high net worth individuals with particularly strong demand from new and existing European investors.
The CVC European Equity Partners IV fund will seek to invest in a diverse range of companies across Europe, with CVC continuing its focus on long-term investments, working in partnership with management.
Since 1996, CVC has invested some US$7bn in buyout transactions. During this time, CVC funds have also achieved top quartile performance based on independent benchmark analysis undertaken by Cambridge Associates.
Michael Smith, chairman of CVC, said: “The significant demand from both existing Limited Partners as well as new investors reflects the solid investor confidence in CVC and a recognition of our strong performance record and competitive strength in Europe; as well as the increasing recognition of private equity as an asset class.”
CVC’s fund raising follows BC Partners’ mega E5.5bn efforts for its eight fund, which closed in May this year, see EVCJ July/August, page 21.