Cinven Raises 7 Billion Euros for Europe-Focused Sixth Fund

  • Firm amassed the funds in four months with previous investors
  • Buyout firm’s fifth fund had raised 5.3 billion euros in 2013

Buyout firm Cinven Ltd. has raised 7 billion euros ($7.8 billion) for its sixth fund, which will focus on investments in Europe.

The firm amassed the pool in four months, with more than 90 percent of previous investors participating, it said in a statement Wednesday.

“Cinven’s 7 billion euro sixth fund is well positioned to provide an important source of committed, long term capital to businesses in order to achieve sustainable growth and generate attractive returns for investors and their beneficiaries,” said Managing Partner Stuart McAlpine.

Cinven’s fifth fund had attracted 5.3 billion euros in 2013, investing in 17 companies and making more than 40 acquisitions, the company said.

Latin American investors, who participated in the previous global fund for the first time, increased their contributions while investment from the Middle East decreased, the firm said. U.S., Asian and European investors made up the majority of the pool, and pension funds accounted for almost half of investors.

Since January 2015, Cinven has exited six of its businesses including the sale of Guardian Holdings Europe Ltd. to Swiss Re AG at a return of 4.2 times its original investment, and a holding in French telecommunications business Numericable-SFR to Altice NV, getting back nearly five-fold what it paid.

Cinven’s funds have invested in 117 companies with proceeds of about 30 billion euros since 1998. Cinven currently has 11 billion euros in assets under management.

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