Breaking News

Tweet TWEET

Cinven Said to Have Raised 80% of 5 Billion-Euro Buyout Fund

Cinven Ltd., the British private- equity firm that owns Pizza Express, amassed 4 billion euros ($5.2 billion) for its latest fund, bringing it 80 percent of the way to its target, two people briefed on the matter said.

The firm, headed by managing partner Hugh Langmuir, is scheduled to tell investors formally at a meeting in New York tomorrow, said the people who asked not to be identified because the terms are private.

Cinven, which is seeking 5 billion euros for the fund, has already started investing the pool since reaching a so-called first close in March. The London-based firm today announced the fund’s fourth investment, the acquisition of family-owned pharmaceuticals company Amdipharm Group for 367 million pounds ($589 million).

Officials at Cinven declined to comment.

To contact the reporter on this story: Anne-Sylvaine Chassany in Paris at achassany@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.