CVC Secondary Partners, the dedicated secondaries investment strategy of leading global private markets manager CVC, is pleased to announce the final close of its sixth global secondary private equity fund Secondary Opportunities Fund VI ("SOF VI"), with aggregate capital commitments of $10 billion1.
The fundraise represents a significant increase over prior Secondary Opportunities Funds (“SOF Funds”), which raised $5.8 billion1 in 2023 and $2.7 billion1 in 2019, underscoring the strong momentum behind CVC Secondary Partners and the continued expansion of the global private equity secondaries market.
The fundraise attracted investment from a diversified and global institutional investor base of over 200 returning and new limited partners, with approximately 50% contributed by new investors to the SOF Funds.
SOF VI continues to operate in the growing private equity secondaries mid-market, targeting buyout fund investments managed by high-quality GPs. SOF VI pursues a two-pronged strategy investing in LP fund portfolios and GP-led transactions, with the goal of building a balanced and highly diversified global portfolio of private equity assets across its investment period.
Rob Lucas, CEO at CVC said: “This is a very positive outcome for CVC Secondary Partners, reflecting the strength of our investment team, our 20-year track record in Secondaries markets and the confidence of our global institutional investor base.
“Secondaries is an important and growing part of CVC’s leading global private markets platform, with €20 billion of assets under management and a clear runway for further growth. As demand for secondaries solutions continues to grow, CVC Secondary Partners is extremely well-positioned to continue to scale its private equity focused funds as well as expanding into newer attractive adjacencies such as Credit and Infrastructure Secondaries.”
Secondaries is an important and growing part of CVC’s leading global private markets platform, with €20 billion of assets under management and a clear runway for further growth
Rob Lucas CEO at CVC
Carlo Pirzio-Biroli, Managing Partner and Head of CVC Secondary Partners, said: “We are grateful for the support of our existing investors and pleased to welcome many new participants to the platform through this fundraise. The successful close of our sixth private equity Secondary Opportunities fund, at $10 billion, marks a significant milestone for CVC Secondary Partners as we continue our mission to be the secondaries partner of choice for LPs and GPs globally.
“The opportunity for our balanced private equity secondaries strategy has never been greater. We continue to operate in a highly attractive market environment, where CVC’s global network and deep private equity investment expertise provide us with valuable advantages. We look forward to deploying the remaining capital with discipline and focus to capture compelling opportunities.”
CVC Secondary Partners today manages €20 billion in AUM across its private equity and credit secondary funds with a team of 60 dedicated investment professionals. CVC manages €212 billion of AUM globally across its seven complementary strategies, which in addition to secondaries comprises private equity, credit and infrastructure.
1 Expressed in US Dollars. Taken together with parallel investment funds and accounts. Inclusive of the CVC house and employee commitments.