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CVC cancels €2bn infrastructure fundraise

9 Jul 2013

infrastruc_lrgPrivate equity firm CVC Capital Partners reportedly has abandoned plans to raise a €2bn infrastructure fund amid lack of interest among LPs.

The firm has secured commitments from three investors, which will now lapse, said Bloomberg, citing two people with knowledge of the talks.

CVC has recently raised €351m through its debt affiliate for its latest credit fund and is currently raising a massive €10bn buyout fund. Last month it was reported that the the firm had received commitments exceeding the fund’s €10.5bn hard cap.

LPs are increasingly scrutinising the fees charged by the funds for returns that are less than traditional leveraged buyout funds, Campbell Lutyens managing partner Andrew Sealey told Bloomberg.

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