Wednesday, 6 May 2015
Last updated 5 hours 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…