Wednesday, 27 July 2016
Last updated 16 hours ago
Jul 22 2013 | 8:22am ET
European buyout firm CVC Capital Partners has reached its goal of raising €10.5 billion for its flagship fund.
The vehicle—CVC Capital Fund VI—which debuted in January, is the largest launch of a private equity fund by a European firm since 2008. Ninety percent of the capital raised came from investors in previous CVC funds.
Steve Koltes, CVC co-chairman, said, "We are pleased and honored that the investment community has shown so much interest in our latest flagship fund. It is a vote of confidence in Europe and in CVC's deeply-rooted and highly qualified professionals across the region."
CVC—which is the private equity owner of Formula One racing—manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East.