Private equity firm Cinven raises €10bn for latest buyout fund
Cinven, the private equity owner of fashion giant Kurt Geiger, has raised €10bn (£8.59bn) for its latest buyout fund in less than four months.
More than 180 investors from 30 countries took part in the fundraise, and the launch saw “significant support” from long-term investors.
Read more: Shoe fits for Cinven as it takes home Kurt Geiger
The Seventh Cinven Fund, which reached its hard cap in less than four months and was oversubscribed, followed a successful €7bn fundraise in 2016.
Cinven head of investor relations Alexandra Hess said: “It is a significant milestone for Cinven to have successfully concluded another fundraise in record time.
“It is testament to our longstanding investment performance through economic cycles, the strength of the Cinven team and the longstanding relationship Cinven has with its investors.
“Importantly, the continued partnership with existing investors, coupled with the support of select new investors, demonstrates their confidence in the fund’s investment strategy and expertise in our defined sectors.”
Read more: Private equity firm Inflexion raises £1bn in two buyout funds
Cinven has raised €37bn of funds to date and has invested in 135 companies across Europe and North America since it became independent from the British Coal pension scheme in 1995.
Recent successful exits include the sales of Ceramtec, Medpace and Ufinet Group.