Fifth Cinven fund holds first close at €3bn

The fund has a target of €5bn and aims for a final close later this year, according to reports

The fund is thought to have a management fee of 1.5%, and will give early investors a 5% discount on fees.

Although initial reports date back to March 2011, Cinven is believed to have been formally fundraising for six months. It had a similar €5bn target for its fourth fund, which closed at €6.5bn in 2006.

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• Topics
• Fundraising
• UK / Ireland
• United Kingdom
• Cinven