CVC's new Asia Pacific fund exceeds USD4 billion target

Asia

CVC Capital Partners has raised USD4.5 billion for its fifth Asia Pacific fund, CVC Capital Partners Asia Pacific V L.P, surpassing the fund’s USD 4 billion target.

Strong demand from a diversified global investor base of new and returning institutional investors allowed CVC’s Fund V to exceed its target, according to the international private equity group with 24 offices worldwide.

The increased fund size from the USD3.5 billion predecessor (fourth) fund, CVC Capital Partners Asia Pacific IV LP, reflects the expanded investment capability of CVC's network of eight offices across Asia, CVC said in a statement.

CVC's Asia Pacific strategy is focused on control and partnership investments in high quality businesses in core consumer and services sectors across Asia. To date, CVC has raised USD15 billion of commitments across its Asia Pacific funds, and those funds have completed more than 65 investments in a range of different industries.

"We would like to welcome our first time investors and thank our returning investors for their continued support of CVC's Asia Pacific strategy,” said Sigit Prasetya, managing partner and head of CVC's private equity activities in Asia.

Prasetya continued: ”Our investors can be confident that our deep experience of Asia's markets and broad local office network puts us in a good position to navigate safely through these volatile times, while our strong capital position gives us the ability to take advantage of attractive investment opportunities as they arise."