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LP interest exceeds hard cap for CVC’s flagship fund

28 Jun 2013

euro 7_sqPrivate equity firm CVC Capital Partners has been offered commitments covering more than the €10.5bn hard cap of its latest flagship fund in just six months.

This means that the London-based firm will have to turn down money, said Reuters, citing a person familiar with the matter.

The Financial Times previously said that CVC had received more than €14bn from investors after kicking off the fundraise with a €9bn target in January.

Last month it was reported that CVC aimed to hold a €7bn first close before July 22, which would enable it to qualify for exemptions from the EU’s Alternative Investment Fund Managers Directive.

Earlier in June CVC raised more than €350m through its debt affiliate for its latest credit fund.

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