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Laxman Pai, Opalesque Asia: European private markets manager CVC raised $6.8 billion for its sixth Asia fund, its largest to date, showcasing strong investor demand in a challenging fundraising environment.
The Asia VI fund, exceeding its $6 billion target, is 50% larger than its fifth Asia fund, the global manager focused on private equity, secondaries, credit, and infrastructure said in a statement. That fund raised $4.5 billion in 2020.
The fund lifts CVC's Asia platform to one of the leading players in the region, having now raised over $21 billion of commitments across its Asia-focused funds. CVC has a total of $199 billion in assets under management globally.
The latest fund will focus on control, co-control, and partnership investments in high-quality businesses in core consumer and services sectors across Asia, the news release said.
"CVC Asia also works closely with CVC's other private equity strategies, both complementing and utilizing the relationships and knowledge of the broader CVC Network, to enhance origination capabilities and create sustainable value in the businesses it backs," it said.
Investors in the new fund include Texas Teacher Retirement System, Austin, and Canada Pension Plan Investment Board, Toronto.
Sigit Prasetya, Managing Partner and Head of CVC Asia said: "We are delighted to welcome our new investors and are grateful for the trust and continued support of our returning investors. With the successful close of Asia VI, we w...................... To view our full article Click here
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