CVC forced to turn investors away

According to reports, CVC European Equity Partners VI, which was launched in January this year, attracted more than €14bn of pledges from investors. With its hard-cap set at €10.5bn the private equity house will be forced to turn down commitments, or request to increase its hard-cap with existing investors.

The success of the fund has been attributed to incentives offered to investors such as an earlybird discount, where by it offered not to charge fees on 5% of commitments received before its first close.

The success of the fundraise is more than impressive after several years of a brutal fundraising environment. However, concerns are also growing over capital overhang as dealflow continues to be weak.

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• Topics
• Fundraising
• CVC Capital Partners