Wednesday, 30 July 2014
Last updated 1 hour 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…