CVC Nears Target For Asia Fund

Feb 25 2014 | 11:34am ET

Private-equity firm CVC Capital Partners has garnered US$3 billion for its latest fund, which will focus on Asia.

The London-based firm expects to finish fundraising for the vehicle, its fourth Asian fund, in the first half of this year, The Wall Street Journal reports. CVC expects to net a total of US$3.5 billion for the fund.

The firm began raising the new fund last year, five years after attracting US$4.1 billion for its last Asia fund. Fundraising efforts do not appear to have been hampered by CVC's high-profile loss of US$1.4 billion on Australian media company Nine Entertainment last year, leading it to quit Australia and India to focus on Southeast Asia and greater China.

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