CVC closes latest debt fund on €650m
CVC Credit Partners has held a final close for its latest special situations fund on тЌ650m, targeting stressed and distressed corporate credit.
The firm's Global Special Situations Fund, which will have a particular focus on Europe, exceeded its €600m target, receiving commitments from new and existing LPs.
The vehicle raised capital from investors across North America, Latin America, Asia, Europe and the Middle East.
The fundraising brings the total amount committed to CVC's credit opportunities and special situations funds to around €2.5bn.
Global Special Situations Fund is the latest in a series of recent debt funds raised by private equity houses. Earlier in June, AnaCap Financial Partners held a €595m final close for its third such fund. This year has also seen EQT hold a €530m final close for its mid-market direct lending vehicle and Park Square Capital Partners close its third subordinated debt fund on €1.2bn.
CVC's latest fund close comes four months after the GP raised €1bn for its growth fund focusing on European and US mid-market businesses with a technology angle.
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