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.
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