CVC to launch mega fundraising

CVC Capital Partners, a European buyout firm, is looking to raise a €11bn (US$16bn) private equity fund next year.

According to the Financial Times, the credit squeeze has not dampened enthusiasm for large private equity funds and CVC is reportedly currently in the process of canvassing potential investors.

A fund of more than €11bn would put CVC in pole position in Europe, following fund closings of just over €11bn earlier in the year by Apax Partners and Permira.