Friday, 26 December 2014
Last updated 2 days ago
Jun 28 2013 | 12:16pm ET
CVC Capital Partners has raised so much for its latest private-equity fund in just six months it will have to turn down some investors.
The firm had sought €9 billion for CVC European Equity Partners VI with a hard-cap of €10.5 billion. It attracted pledges in excess of €14 billion, the Financial Times reports.
London-based CVC can only accept more money if it gets consent from the fund's existing investors.
But even having to turn away more than €3.5 billion, CVC European VI is the second-largest p.e. fund raised since the financial crisis. The Blackstone Group raised US$16 billion last year—but took four long years of fundraising to do it.
CVC did sweeten the pot for early investors in the fund, offering to waive fees on the first 5% of commitments received before its first close.
CVC raised €10.8 billion for its last fund, in 2008.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.