On Thursday, July 20, Luxembourg-based private equity and investment advisory firm, CVC, made an announcement confirming the successful closure of CVC Capital Partners IX (“Fund IX”) at an impressive €26B, surpassing its initial €25B target.
Achieving this milestone signifies a remarkable accomplishment for CVC Capital Partners IX, solidifying its position as the largest-ever private equity fundraising venture. Surpassing Blackstone’s Capital Partners VIII, which raised $26.2 billion in 2019, further highlights the magnitude of this achievement.
CVC Capital Partners VIII, the predecessor of the new fund, successfully raised €22.3 billion in 2020.
Rob Lucas, the Managing Partner, expresses gratitude to the investors for their unwavering support during the Fund IX fundraising process. The firm’s consistent outperformance across multiple cycles has established enduring relationships with top-tier institutional investors.
CVC has cultivated a global network of 25 local offices and a team of over 850 professionals over the past three decades, providing them with a competitive advantage for making exceptional investments and delivering sustainable value to their investors.
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With Fund IX and their broader family of funds, CVC eagerly anticipates partnering with entrepreneurs and management teams to foster the growth of remarkable businesses worldwide.
This announcement coincides with Pitchbook’s report, which highlights a significant drop in European VC dealmaking during the first half of 2023. Deal value decreased by 60.8% compared to H1 2022 and was 34.2% lower than H2 2022.
About CVC
CVC is a renowned private equity and investment advisory firm, boasting an extensive network of 25 offices spanning Europe, Asia, and the US, overseeing assets worth approximately €140B.
The firm’s portfolio comprises investments in over 125 companies worldwide, collectively generating an impressive annual sales figure of around €100B and providing employment opportunities for over 550,000 individuals.
