CVC Said to Secure $5 Billion for Fund With Longer Lifespan
- Strategic opportunities fund will have a 15-year lifespan
- Joins firms such as Carlyle trying to raise similar funds
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CVC Capital Partners, Europe’s largest private equity firm, is set to close on $5 billion in new funds for its strategic opportunities vehicle, people familiar with the matter said.
The new pool is designed for long-term investments and is expected to produce annual returns of 12 percent to 14 percent, said the people, who asked not to be identified because the information is private. Backers include the Government of Singapore Investment Corp., a part-owner of CVC, said the people. The fund will have a 15-year lifespan, one of the people said.