CVC closes fifth Asia-Pacific fund on $4.5bn

The fund had a target of $4bn, while the fund's predecessor closed on $3.5bn. Both new and returning institutional investors participated in the fundraise, according to a statement.

Investors in the fund's predecessor, Asia IV, was made up 32% by LPs from the Asia-Pacific region and 30% by LPs from North America. By investor type, 43% were sovereign wealth funds and 27.5% were public pension funds.

CVC operates eight offices across the region. Investments from the firm's range of Asia funds include Asia Commercial Bank, online accommodation booking company Good Choice and consumer broadband company Link Net.

The firm is also currently raising for its CVC Capital Partners VIII, which has a target of €20bn and will invest in European and North American companies.

LPs in the firm's flagships funds include the California Public Employees Retirement System, the Canada Pension Plan Investment Board, the Los Angeles Fire and Police Pension System, and the Massachusetts Pension Reserves Investment Management Board.

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• Topics
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• Buyout
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• CVC Capital Partners