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Laxman Pai, Opalesque Asia: European private equity major Cinven has hauled in €13.2bn ($14.5 billion) for the hard cap final close of its eighth flagship fund, the Eighth Cinven Fund (Fund 8).
The fund is almost 30% larger than its 2019 vintage predecessor fund, Seventh Cinven Fund, for which Cinven also reached the hard cap of €10 billion ($11 billion), said a media release from the U.K.-headquartered firm.
As per media reports, the new vehicle comes amid a tricky fundraising environment for buyout firms, with investors becoming pickier about where they allocate their cash. While some are flocking to multi-strategy asset managers, others are doubling down on specialized offerings.
The fund focuses on healthcare, business services, industrials, financial services, and consumer sectors, primarily in Western Europe, the release said.
Alexandra Hess, Partner of Cinven and Head of Investor Relations, said: "We greatly appreciate the support for Fund 8 that we have received from both longstanding and new investors. With their support, we have been able to complete another successful fundraise despite the difficult market backdrop. We believe market environments such as these support successful fund vintages for investors; particularly given Cinven's experience identifying attractive opportunities across sectors and geographies in periods of volatility."
In October 2022, the Ohio School Employees Retirement System, Columbus, approved a $49 million commi...................... To view our full article Click here
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