CVC Capital Partners held its first private equity fund final close in three years for its ninth fund focused on Europe and Americas with €26 billion ($29 billion).
CVC Capital Partners IX was launched only in January and has had strong demand from returning and new institutional investors. Investors include: Massachusetts Pension Reserves Investment Management Board; Rhode Island Employees’ Retirement System; New Jersey Division of Investment; and Louisiana Teachers’ Retirement System.
“We are extremely grateful to our investors for their support during the Fund IX fundraising,” CVC Managing Partner Rob Lucas said. “Our consistent outperformance across multiple cycles has allowed us to build long-term relationships with the highest quality institutional investors.”
The preceding fund, CVC Capital Partners VIII, closed at €22.3 billion in 2020. At approximately €64 billion, CVC’s European and the Americas private equity strategy is focused on control or co-control investments in market-leading businesses across these regions.
CVC manages more than €140 billion of AUM globally across six complementary investment strategies comprising CVC Europe/Americas, CVC Asia, CVC Strategic Opportunities, CVC Growth, CVC Credit and CVC Secondaries (Glendower).
“Over the last 30 years, CVC has developed an international network of 25 local offices and a global team of over 850 professionals,” Lucas said. “This provides us with a real competitive advantage in making the best investments and creating sustainable value for our investors.”
The private equity fund launch follows the record raise for CVC Credit’s European Direct Lending Fund at the end of 2022.