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CVC Capital raises $29 billion for world's biggest-ever buyout fund

CVC only began raising its ninth buyout fund in January and initially targeted €25 bn

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Bloomberg

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CVC Capital Partners has raised €26 billion ($29.2 billion) for the world’s biggest-ever buyout fund, people with knowledge of the matter said, defying a challenging fundraising environment.
 
The European private equity firm secured commitments from global investors including US and Canadian pension funds, according to the people, who asked not to be identified discussing confidential information. A representative for CVC declined to comment. 
 
CVC only began raising its ninth buyout fund in January and initially targeted €25 billion. Demand was strong enough to take it past that figure, showing how the more established private equity firms can have an edge at a time when investors are becoming more selective about where to park their money. Private equity firms have seen their traditional model of leveraged buyouts hampered by higher interest rates.

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First Published: Jul 21 2023 | 10:39 PM IST

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