Private equity firm CVC Capital raises USD 6.8 billion

Private equity and investment advisory firm CVC Capital Partners on Wednesday said it has mopped up USD 6.8 billion (around Rs 56,366 crore).

The Luxembourg-based company has over USD 1 billion investments in four domestic companies -- the Indian Premier League franchise Gujarat Titans, Healthcare Global, Sajjan India and United Lex, according to a statement. It plans to invest some of the new money being raised into more domestic companies.

In the statement, CVC, which is focused on private markets, private equity, secondaries, credit and infrastructure, said the fund closure is 50 per cent larger than its predecessor fund, that raised USD 4.5 billion in 2020.

The funds raised in the latest round saw a strong demand from new and returning blue chip investors enabling it to exceed the USD 6 billion target and original hard cap of USD 6.5 billion. This makes CVC one of the leading PE players in the region, having raised over USD 21 billion across its Asia-focused funds.

The new fund will focus on control, co-control and partnership investments in high quality businesses in core consumer and services sectors across Asia. CVC has been active in Asia since 1999 and has made more than 80 acquisitions in the region.

The company manages USD 199 billion AUM (asset under management) globally across seven complementary investment strategies comprising CVC Europe/Americas, CVC Asia, strategic opportunities, growth, secondaries, credit and infrastructure.

Funds managed/advised by it are invested in over 125 companies worldwide, which have combined annual sales of around 166 billion euros.