CVC Capital Partners (“CVC”), the European Private Equity Group, today announces the first and final closing of CVC European Equity Partners IV, Europe’s largest private equity fund to date. CVC has raised €6 billion (US$7.2 billion) from a broad range of international institutional investors and high net worth individuals with particularly strong demand from new and existing European investors.
The CVC European Equity Partners IV fund will seek to invest in a diverse range of companies across Europe, with CVC continuing its focus on long-term investments, working in partnership with management.
Since 1996, CVC has been the most active private equity firm in Europe, with CVC funds investing some US$7 billion in buyout transactions. During this time, CVC funds have also achieved top quartile performance based on independent benchmark analysis undertaken by Cambridge Associates.
CVC’s European network is the most extensive and longest established team of any private equity group in Europe – with its network of 12 offices and 53 investment professionals, and an Industrial Advisory Board of 32 members across 13 countries. This gives CVC a strong competitive advantage in originating investment opportunities.
CVC will continue to target companies with a talented, experienced and committed management team, a strong market position and product portfolio, a diversified customer base in growing markets and the opportunity for cash flow and profit growth to be achieved organically or through alliances or acquisitions.
Michael Smith, Chairman of CVC commented: “The significant demand from both existing Limited Partners as well as new investors reflects the solid investor confidence in CVC and a recognition of our strong performance record and competitive strength in Europe; as well as the increasing recognition of private equity as an asset class.
Through our broad and long-standing network of pan-European offices, our cross-border team of investment professionals and our pool of experienced chief executives from current and former portfolio companies, CVC is well positioned to operate successfully in a highly competitive marketplace.
The continuing challenge will be to identify attractive deals early on and then develop sustainable, long-term value in close partnership with management teams. Our track record combined with the extensive experience and resources that we can bring to bear a significant role in the continued restructuring and strengthening of European business.
We value the long term relationships we have built with the investors in our European and Asian funds, and we are pleased to report that all the funds raised by CVC to date have achieved top quartile performance.”